Guidelines for Accepting Donations

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

Donations In Kind Recording in-kind donations of goods and certain professional services provides a means of recognizing and valuing contributed services and property at their fair market values at the time of contribution.  Recordable transactions must have a verifiable fair market value.   According to GAAP, donated professional services are recorded only if the service provided requires specialized skills and is …