Guidelines for Accepting "Gift-In-Kind" and Cash Donations

For gifts to the College for which NO charitable benefits are requested:

1. The gift must be of use to the department accepting the gift.
2. A detailed description of the gift must be prepared by either the donor or the accepting department.
3. Upon recommendation of the Dean, or appropriate Department Head, the appropriate Senior Staff member in conjunction with the Vice President of Institutional Advancement must bring forward to Senior Staff the proposed gift for approval to accept.
4. If the gift requires ongoing expenditures of funds by the college (i.e. operating cost), then before the gift can be officially accepted, it must receive Board of Trustees approval (as per existing Board policy), and have an estimate of operating costs and an identified source of funding.
5. According to existing Board policy, the gift must be reported to the Grants office and an appropriate BOT exhibit prepared.

If the gift meets these requirements, then it is eligible for acceptance.

Appropriate acknowledgements:

The donor should be thanked in writing by the recipient department, the Dean of the Department, the Vice President of Institutional Advancement and, if appropriate, by the President.

For Gifts requiring charitable benefits:

A. The gift must be of use to the department accepting the gift.

B. A detailed description of the gift must be prepared by the donor or the accepting department.

C. Upon recommendation of the Dean or appropriate Department Head, the appropriate Senior Staff member in conjunction with the Vice President of Institutional Advancement must take the proposed donation to Senior Staff for approval in advance of the acceptance of the gift.

D. If the gift requires ongoing expenditures of funds by the college (i.e. operating costs), then before the gift can be officially accepted, it must receive Board of Trustees approval (as per existing Board policy), and have an estimate of the operating costs and an identified source of funding.

For a gift of cash - A receipt must be issued for the exact amount of the gift. That receipt must come from the Vice President of Institutional Advancement on behalf of the Foundation, with appropriate thank you letters from the recipient of the gift,
the Dean/head of the department and the President, as appropriate, according to existing Board policy. The gift must be reported to the Grants office and appropriate BOT exhibit prepared.

For a gift-in-kind - steps A-D (see above) must be employed plus the following as required by the Internal Revenue Service (IRS):

• An evaluation of the current market value of the gift must be made to determine the “value of the gift for charitable purposes” by non college personnel.
• If the gift is a new object purchased by the donor, then the bill of sale or a publicly published retail value (i.e., in a catalog) will suffice.
• If the gift is not new, then an independent appraisal (usually at the donor’s expense) by an individual/company acceptable to the IRS must be performed to determine the “current market value”.

Appropriate acknowledgements:

The “charitable” letter to the donor will be prepared by the Vice President of Institutional Advancement and given to the donor. Thank you letters should also be sent by the recipient of the gift, the Dean, and, as appropriate, the President.

For a gift of service - The above guidelines for a charitable or non-charitable gift apply plus the following:

• The donors must adhere to the insurance and liability guidelines as set forth by the College Counsel.

CHARITABLE GIFT PLANNING

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The Community College of Baltimore County
7200 Sollers Point Road
Baltimore, MD 21222
443.840.3548 | Fax: 443.840.3988