Gift-In-Kind Donation Form - Utah Valley University
This form is used to facilitate gifts-in-kind donations valued under $5,000 to Utah Valley University. It provides details on the donor, item description, and required documentation. Donors should consult with tax professionals regarding the fair market value.
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How do I fill this out?
To fill out the Gift-In-Kind Donation Form, begin by providing the donor's name and contact information. Next, describe the item you wish to donate along with its condition and estimated value. Ensure all required signatures and details are completed before submission.
How to fill out the Gift-In-Kind Donation Form - Utah Valley University?
1
Provide donor name and organization details.
2
Describe the item being donated in detail.
3
Select the condition of the item.
4
State the fair market value of the gift.
5
Sign the form and submit it as instructed.
Who needs the Gift-In-Kind Donation Form - Utah Valley University?
1
Individuals looking to donate items to the university for tax benefits.
2
Organizations wishing to contribute resources to the educational environment.
3
Donors seeking a formal process for non-cash contributions.
4
Community members interested in supporting university programs.
5
Alumni wanting to give back to their alma mater.
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What are the instructions for submitting this form?
To submit the Gift-In-Kind Donation Form, email it to donations@uvu.edu or fax it to (123) 456-7890. You may also physically deliver the form to the Utah Valley University Foundation office at 800 W University Parkway, Orem, UT 84058. Ensure that all sections are completed and signed before submission for processing.
What are the important dates for this form in 2024 and 2025?
Please submit your Gift-In-Kind Donation Form by December 31st for the current tax year. Take note that the university may have specific deadlines for different departments, so check accordingly. Ensure timely submissions to facilitate the processing of your donations.
What is the purpose of this form?
The purpose of this form is to document gifts-in-kind donations to Utah Valley University. It allows the university to properly account for received items and provides essential information for both the donor and the institution. This form also serves as an acknowledgment of the donation for the donor's tax purposes.
Tell me about this form and its components and fields line-by-line.
- 1. Donor Name: Full name of the donor or organization making the donation.
- 2. Contact Person: Individual at the organization responsible for this donation.
- 3. Item Description: Detailed description of the item(s) being donated.
- 4. Condition: Condition of the items (new, used, excellent, good, or poor).
- 5. Fair Market Value: The estimated value of the gift as defined for tax purposes.
- 6. Donor Signature: Signature of the donor to authorize the donation.
What happens if I fail to submit this form?
If you fail to submit the form, your donation may not be processed or recognized. Without proper documentation, you may miss out on potential tax deductions related to your gift. It's essential to ensure all required fields are completed before submission to avoid any issues.
- Incomplete Documentation: Form may be rejected if all required information is not provided.
- Potential Tax Implications: Failure to submit could lead to missing out on tax benefits for your donation.
- Delayed Acknowledgment: Donors may not receive timely acknowledgment of their contributions.
How do I know when to use this form?
- 1. Donation of Goods: To donate physical items, including equipment, supplies, or materials.
- 2. Tax-Deductible Contributions: If you wish to claim a tax deduction for your gift-in-kind donation.
- 3. University Events Sponsorship: When donating items for specific university events or programs.
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