Free Course: Sign Up For Our Free In-Kind Donations Course
Nonprofit organizations often rely on in-kind donations to help support their mission and reduce expenses. However, effectively managing and utilizing these types of gifts requires a clear understanding of the risks, benefits, and procedures involved.
In this course, individuals will gain a comprehensive understanding of in-kind donations and learn best practices for managing and valuing these gifts. The course covers the following topics:
- What in-kind donations are and the different types that nonprofits might receive
- The importance of in-kind donations for nonprofits, as well as the potential risks involved, such as liability issues of managing donated goods.
- Strategies for establishing acceptance policies and procedures for in-kind donations, including criteria for what types of donations will be accepted and the process for evaluating the value and condition of donated goods.
- Best practices for recording and tracking donated goods, services, and property
- The tax implications related to in-kind donations, such as how to determine the value of donated items and the different tax forms that may need to be filed.
By the end of this course, students will have a comprehensive understanding of in-kind donations and be equipped with the knowledge and tools needed to manage them effectively.
Here are some additional resources you can look into for more guidance:
Working With a Nonprofit Accountant: What to Expect
Working with an accountant can help your organization develop an effective budget. Read more about what an accountant can do for you in this comprehensive article.Nonprofit Accountants
Bookkeeping and Accounting for Nonprofits
Looking to hire or outsource a finance team? Learn more about both bookkeeping and accounting for nonprofits, specifically about the difference between them.Bookkeeping & Accounting
Top 10+ Outsourced Nonprofit Accounting Firms
Working with an accountant specifically dedicated to nonprofits is important for developing a well-informed nonprofit budget. Learn more about Fundly’s top ten picks for outsourced firms.Outsourced Accounting Firms
For bookkeeping and accounting support beyond these courses, get in touch with the Jitasa team.