Donation of Motor Vehicle

Dana Marinin

We have a donor looking to donate a car to our hospital as an in-kind donation. The hospital is looking to sell the car after taking ownership.  Does anyone have any experience with this and how to record in Raiser's Edge? We have only begun the process; the car is being appraised shortly.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Joshua Bekerman bCLO bCRE

Dana Marinin:
We have a donor looking to donate a car to our hospital as an in-kind donation. The hospital is looking to sell the car after taking ownership.  Does anyone have any experience with this and how to record in Raiser's Edge? We have only begun the process; the car is being appraised shortly.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Are you working with a car donation service or is the hospital taking direct ownership?  If it's direct ownership, we would record record it with a gift type of gift-in-kind.  For the receipt/acknowledgment letter, it should only include a description of the donation (car) and not a value.

JoAnn Strommen

Dana Marinin:
We have a donor looking to donate a car to our hospital as an in-kind donation. The hospital is looking to sell the car after taking ownership.  Does anyone have any experience with this and how to record in Raiser's Edge? We have only begun the process; the car is being appraised shortly.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

We would record it in RE as gift type of stock/property like we do for any donations that we plan to sell and use the proceeds.  (For us a GIK is something we plan to keep and use.)   On gift record we would record any and all details related to vehicle for future reference.

Just an aside - there's other paperwork required related to donation of a vehicle.  Believe it's form 1098(C)

If you haven't already,  I'd also look at IRS pub 4302 - A Charities Guide to Vehicle Donation.  - Has all the details on what to include in acknowledgements, too.

Donor may want to look at Pub 4303 - A Donor's Guide to Vehicle Donations.  There's also paperwork they need to complete, if I remember correctly,

JoAnn Strommen

JoAnn Strommen:

We would record it in RE as gift type of stock/property like we do for any donations that we plan to sell and use the proceeds.  (For us a GIK is something we plan to keep and use.)   On gift record we would record any and all details related to vehicle for future reference.

Just an aside - there's other paperwork required related to donation of a vehicle.  Believe it's form 1098(C)

If you haven't already,  I'd also look at IRS pub 4302 - A Charities Guide to Vehicle Donation.  - Has all the details on what to include in acknowledgements, too.

Donor may want to look at Pub 4303 - A Donor's Guide to Vehicle Donations.  There's also paperwork they need to complete, if I remember correctly,

Dana, 

Another note - not specific to RE but just want to be sure you have all the info you need.

Was just looking for something on fundsvcs.org and saw recent post about vehicle donation. (If you haven't heard of it - the website deals with questions on fundraising from many software users besides RE.  Have always found it quite helpful.)  Here's link: http://listserv.fundsvcs.org/cgi-bin/wa?A2=ind1406&L=FUNDSVCS&F=&S=&P=91223

Be sure to read the reply post - John's reply regarding the donor's tax deduction.