Gift in Kind Procedures
(Please complete the Gift in Kind training in My Learning in Workday)
- Gather Information and Complete the Acceptance Form (Department)
-The department gathers all pertinent information and completes a Gift in Kind Acceptance Form.
- Submit one form for multiple items donated on the same date with an itemized listing attached.
- Complete the form each time items are donated.
- Attach Supporting Documentation and Submit to Division (Department)
-The department sends the completed form with supporting documentation to their divisional Business Services office (SoHE Business Office) for further review.
-Ensure supporting documentation is attached if the donated item meets the definition of capital equipment.
- Submit to Gift Management Team (Division)
-The Gift Acceptance Form and any supplemental information are submitted by divisional Business Services offices (SoHE Business Office) to the Gift Management team for review.
-If a Gift in Kind agreement is requested by the donor (for example, an Agreement for Permanent Transfer of Equipment from another institution), Gift Management will review and sign off on behalf of UW-Madison, consulting with Risk Management or Legal Affairs as needed.
- Coordinate Physical Custody (Department)
-After a Gift in Kind has been approved, unless otherwise notified, the department coordinates taking physical custody of the item.
- Issue Acknowledgement Letter (Department/Division)
-After receiving the item, the department is required to issue a Gift in Kind Acknowledgement Letter to the donor as a thank you.
-Provide a copy of the letter to the SoHE Business Office and they will forward a copy to Gift Management.
-A template for this letter is available from Business Services. It’s very important to use the language included in the template for written acknowledgement and tax purposes for the donor.
-Only a description of the item donated should be included in the letter along with the date the item was received.
-The estimated fair value of the item should not be included.
-The letter can be delivered by email or physical mail delivery.
-This letter serves as a thank you and is the required written acknowledgement to the donor. It includes specific language for tax purposes.
GIFT IN KIND Steps completed in Gift Management
- Record Donation in Workday (Gift Management)
-Gift Management records the donation in Workday as a Gift Worktag, which is subsequently reported to the Board of Regents per UW System Administrative Policy 342.
- Report Capital Equipment (Gift Management)
-If the donated item meets the definition of capital equipment, Gift Management reports it to the Property Control team in the Division of Business Services. The asset is then tagged and added to the Workday for tracking.
Sometimes it might not be practical to complete a Gift in Kind Acknowledgement Form when the item is first donated. This is okay. When these situations occur, the department can complete the Gift in Kind Acceptance Form as soon as possible for divisional review and processing.
Some common examples of when a delay is acceptable:
- Clothes and props are donated to the Department of Theatre and Drama.
- Artwork or pieces are donated to museums, galleries, and/or collections.
- Books or materials are donated to libraries.
High Volume Gift in Kind Activity
If your department accepts Gifts in Kind on a frequent basis and/or in high volume, it is acceptable to report Gifts in Kind over a given period of time (for example, monthly reporting). When reporting by period, remember to:
- Record the name and address of the donors.
- Draft an accurate description of the item(s).
- Complete one (1) Gift In Kind Acceptance Form for that period's donations with the itemized listing attached.
Even when reporting by period, a Gift Acknowledgement Letter will be issued to each donor!
https://businessservices.wisc.edu/documents/3008-2-gift-in-kind-procedure/The date on the Gift in Kind Acceptance Form can be the last day of the month/period if multiple items are included on the form.
Resources: