Supporting Cal Poly with Gifts-in-Kind
Gifts-in-kind are gifts of real property such as land or buildings, or tangible personal property such as equipment, materials, company products or inventory.
Gifts of Equipment and Material
Cal Poly encourages and appreciates gifts-in-kind, such as computer hardware and software, industry equipment, agricultural vehicles, expendable supplies for laboratories, library archive collections, musical instruments, works of art, and other materials that the university would otherwise need to purchase. Through gifts-in-kind, supporters help the university strengthen programs and improve facilities to provide the best possible educational experience to our students. Unlike contributions of cash or securities, in-kind gifts allow donors to receive the benefit of a charitable contribution without drawing on their cash reserves.
All gifts-in-kind are reviewed, accepted and officially acknowledged. Prior to acceptance, the gift is reviewed to see if it meets campus needs. Cal Poly reserves the right to decline any gift that does not further the university's goals or involves special maintenance or other conditions the university would be unable to satisfy. The donor is responsible for making arrangements to deliver the gift. Additional approvals may be required for works of art.
Cal Poly does not provide gift valuation. In accordance with Internal Revenue Service regulations, the donor is responsible for determining the value of an accepted gift. If the estimated value of the gift exceeds $5,000, then a qualified appraisal dated no more than 60 days prior to the date of contribution is required by the IRS to substantiate a donor's charitable deduction for gifts-in-kind. University personnel are not qualified appraisers, and federal regulations do not permit the university to give appraisals or estimates of value.
The summary above is based on Internal Revenue Service publications and provides basic guidelines regarding tax deductions for gifts-in-kind. This summary is not intended to serve as a complete account of the requirements or limitations covering tax-deductible gifts. Cal Poly recommends that donors consult their tax advisors when considering gifts-in-kind.
For More Information
To discuss gifts-in-kind, please contact the college or office that is the most likely beneficiary.
For taxation details, see IRS Publication 526.
For more information on Gifts-in-Kind, please contact:
Development Support Services