Recording Gift-in-Kind Donations
Gift-in-Kind donations are recorded and receipted similarly to regular monetary donations with the following exceptions. When entering a new Gift-in-Kind donation:
- For the Donation Type, choose Gift-in-Kind from the drop-down menu. If this selection is not available, contact your Sumac Administrator to add this entry to the list of donation types (it is important to distinguish a Gift-in-Kind donation from others).
- For the Total Amount, enter 0. The Total Amount field reflects the monetary amount of the gift, and since a Gift-in-Kind donation is non-monetary, 0 is entered into the Total Amount field.
- For the Receiptable Amount, enter the estimated value of the gift, for tax receipt or insurance purposes.
- Use the Notes field to enter the details of the gift: what was donated, and a brief statement of its assessed value.
If you consistently follow the practice of both describing Gift-in-Kind donations in the Notes field, and setting the Total Amount field to zero for these donations, then you should ensure that the Notes field is part of the tax receipt template for this type of donation. Your receipt template can be adjusted to merge this information in automatically.
If the Notes field is not showing in your donation records, contact your Sumac Administrator to turn this field on. You can follow this how-to video to learn how to customize which fields are displayed in Donation records to best suit your organization's needs.