In-kind donations, also referred to as gifts in kind, is a type of charitable giving, in which, instead of giving money to buy needed goods and services, the goods and services themselves are given. In short, in-kind donations are donations of goods, services or time—instead of cash.
The BeatHeart Foundation is always in need of in-kind donations for our events, whether it be facilities or venue space, bottled water, food products, auction or drawing prize items, photography services, gift baskets, etc. The BeatHeart Foundation welcomes donations of any goods you may have. If you're unsure about something you have being useful or not, drop us an email via our Contact Form below, and we'll let you know!
Examples of in-kind gifts include:
copying/printing services (for flyers, posters, paper, etc.)
framing or mounting services
legal services (advice, consultation, etc.)
gift baskets/auction items
food products (pizza, sandwiches, bags of chips, packaged foods, etc.)
beverages/beverages (bottled water, coffee, soda, etc.)
art pieces (paintings, drawings ceramics, sculptures, etc.)
guitars and other musical instruments
venues for events
venues for meetings
Small items, such as gift cards, can be mailed to our mailing address:
The BeatHeart Foundation
4 Ridge Road
Revere, MA 02151
ATTN: In-Kind Donation To arrange a pick-up time with us please reach out to email@example.com
Establishing the Value of In-Kind Contributions
Many in-kind donations are tax deductible. Although there’s no single formula that can determine the value of donated goods, the IRS’s Publication 561 is a guide to determining the fair market value (FMV) of donated property. Fair Market Value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts. If you put a restriction on the use of property you donate, the FMV must reflect that restriction. By law, non-profit organizations cannot provide a donor with the dollar value of an In-kind gift. Such valuations, comparative to “fair market value” of in-kind gifts, need to be professionally assessed and certified—and that is the responsibility of the donor. Appraisals are not necessary for items of property for which you claim a deduction of $5,000 or less. Howver, you generally will need an appraisal for donated property for which you claim a deduction of more than $5,000.
NOTE: Keep in mind that not every in-kind donation is tax-deductible; donated services are generally not recognized by the IRS.
Additional References and Notes
IRS Form 8283: Noncash Charitable Contribution Form
Individuals, partnerships, and corporations must file Form 8283 to report information
about noncash charitable contributions when the amount of their deduction for all
noncash gifts is more than $500.
NOTE: Do not use Form 8283 to figure your charitable contribution deduction. For
detains on how to figure the amount of the deduction, reference your tax return
instructions as well as Publication 526: Charitable Contributions
Instructions for IRS Form 8283
Information and separate instructions for IRS Form 8283
IRS Publication 561: Determining the Value of Donated Property
This publication is designed to help donors and appraisers determine the value of
property (other than cash) that is given to qualified organizations. It also explains what
kind of information you much have to support the charitable contribution deduction you
claim on your return.
This publication does not discuss how to figure the amount of your deduction for
charitable contributions or written records and substantiation required. See Publication
526: Charitable Contributions, for this information.
IRS Publication 526: Charitable Contributions
This publication explains how to claim a deduction for your charitable contributions. It
discusses the types of organizations to which you can make deductible charitable
contributions and the types of contributions you can deduct. It also discusses how much
you can deduct, what records you must keep, and how to report charitable contributions.
Notes:Under IRS regulations, the valuation of any gift-in-kind is the responsibility of the
donor and/or authorized appraiser. The BeatHeart Foundation is not authorized to give a
value on any property to a donor for tax purposes.
Regardless of how you give, we would like to thank you for your support. The BeatHeart Foundation is a private,
501(c)(3) tax exempt nonprofit organization. We do not receive government funding and rely solely on the contributions
of individuals who support addiction awareness and creative expression. We could not do the work we do
without your generous contributions. Thank you for all you do to help fuel our mission.
We want to hear your voice!
Any questions about in-kind donations?
Any comments on how to make the BeatHeartFoundation.org experience better?
Reach out to us and let us know!