Unwrapping the Complexities of In-Kind Gifts
Date Presented: December 2nd, 2024, 10:00 am-11:00 am PT
In this session with Clark Nuber PS, we explore the critical steps for accurately accounting for and valuing non-monetary donations, ensuring proper documentation, and navigating the intricate tax regulations that govern in-kind contributions. Whether you’re a nonprofit professional, an accountant, or a tax advisor, you’ll gain practical insights on how to manage these unique donations effectively. Our expert speakers will guide you through properly recognizing and recording in-kind gifts on your financial statements and highlight strategies to optimize tax advantages for your organization and its donors. We’ll also discuss the latest IRS guidelines and provide valuable tips to help you maintain compliance and avoid common pitfalls. Don’t miss this opportunity to enhance your understanding of in-kind gifts and empower your organization to leverage these donations to their fullest potential.
Learning Objectives
- Understand what qualifies as an in-kind gift and the different types of non-cash contributions an organization may receive
- Learn how to properly value in-kind gifts and the accounting and tax requirements for recordkeeping and reporting
- Gain familiarity with best practices for accepting in-kind gifts
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