Supporting Falcon Club with Gifts-in-Kind

Gifts-in-kind are gifts of real property such as land or buildings, or tangible personal property such as equipment, materials, company products or inventory. Falcon Club honors our In-Kind donors with complimentary advertising with a banner placed at Scotts Valley High School. 

 

Gifts of Equipment and Material

Falcon Club encourages and appreciates gifts-in-kind that can be auctioned off at any of our fundraising events, such as vacation home rentals, computer hardware and software, industry equipment,  vehicles, athletic collections, and works of art. Falcon Club also accepts expendable supplies for our teams, sound systems, Food service items for our falcon Club Cafe, and other materials that the Falcon Club would otherwise need to purchase to put on our many fundraisers throughout the year. Through gifts-in-kind, supporters help the athletic department at Scotts Valley High School strengthen our programs and improve facilities to provide the best possible experience to our athletes. Unlike contributions of cash or securities, in-kind gifts allow donors to receive the benefit of a charitable contribution without drawing on their cash reserves.

 

Acceptance Policy

All gifts-in-kind are reviewed, accepted and officially acknowledged. Prior to acceptance, the gift is reviewed to see if it meets our needs. Falcon Club reserves the right to decline any gift that does not further the school's goals or involves special maintenance or other conditions the Falcon Club would be unable to satisfy. The donor is responsible for making arrangements to deliver the gift. Additional approvals may be required for works of art.

 

Appraisal Guidelines

Falcon Club does not provide gift valuation. In accordance with Internal Revenue Service regulations, the donor is responsible for determining the value of an accepted gift. If the estimated value of the gift exceeds $5,000, then a qualified appraisal dated no more than 60 days prior to the date of contribution is required by the IRS to substantiate a donor's charitable deduction for gifts-in-kind. Falcon Club volunteers are not qualified appraisers, and federal regulations do not permit Falcon Club to give appraisals or estimates of value.

The summary above is based on Internal Revenue Service publications and provides basic guidelines regarding tax deductions for gifts-in-kind. This summary is not intended to serve as a complete account of the requirements or limitations covering tax-deductible gifts. Falcon Club recommends that donors consult their tax advisors when considering gifts-in-kind.

 

For More Information

To discuss gifts-in-kind, please contact our banner chair.

For taxation details, see IRS Publication 526.

For more information on Gifts-in-Kind, please contact:

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The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

 

Scotts Valley High School Falcon Club qualifies as a public charitable organization and meets the requirements of Internal Revenue Code Section 501(c)(3). Gifts to Falcon Club are deductible at the highest limits allowed for federal income or estate tax purposes.

 

The Foundation's legal/corporate name is Scotts Valley High School Falcon Club and its federal tax identification number is 42-1537478. Download a copy of Falcon Club's IRS determination letter (PDF)