Gift-in-Kind

GIK entry is similar in CRM and RE, but the RE gift attributes for gifts-in-kind have been moved in CRM.

Good to Know!

• In RE some gift-in-kind donations are entered with amounts and some are not.  Generally if the GIK needs to be included in financial totals the amount is entered.  The process will stay the same in CRM.
• Batch Entry:
  • Revenue Amount – 0 or amount as appropriate
  • Recognition Amount – valued amount as appropriate
  • Payment Type – Gift-in-kind
  • Payment Subtype – as appropriate
  • Item Name – 50 character description of the item
  • Usage – Sell or use as appropriate
  • # Units – blank or fill in if you want to count the GIK money in totals
  • FMV of Units – blank or fill in if you want to count the GIK money in totals.  Note that the revenue amount must equal the number of units x the FMV of the units
• After batch additions to the transaction, after the batch is committed you would edit the gift and add this information.
  • Appraisal – add an appraisal for this GIK
    • Appraiser – leave blank
    • Appraised Amount – add the appraised amount, formerly captured in the GIK Valuation gift attribute
    • Appraisal Description – longer description of the time, formerly captured in the GIK Description gift attribute
    • Appraised Date – add as needed, not required
  • Documentation
    • Tax Forms – Choose appropriate tax form type and enter date, other info as needed.  Formerly captured in the gift attribute Tax Form.
• Tax form would be added under documentation for the gift. Create note types for the forms using fields from attribute. Pre conversion would be in notes, post conversion in attachments

  add a data review form for all gik that are missing appraisal amounts