• Your Community Awaits

    Gift in Kind

    Posted by Angelica on February 26, 2026 at 11:28 am

    I’m wondering whether any of you take materiality into consideration when determining whether to record Gifts‑in‑Kind in your general ledger for financial statement presentation purposes.

    Angelica replied 3 weeks, 2 days ago 3 Members · 4 Replies
  • 4 Replies

  • Megan

    Member
    February 26, 2026 at 11:43 am

    My rule of thumb is if it’s something the nonprofit would otherwise have needed to purchase, it should be recorded. Whether that’s 1000 pounds of potatoes for a food shelf or a pound of coffee for the break room.

    What specifically are you on the fence about?

    • Angelica

      Member
      February 26, 2026 at 11:46 am

      They are GIK for the use in events and the Foundation hasn’t historically recorded them.

  • Angelica

    Member
    February 26, 2026 at 3:46 pm

    Thank you!

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