Information about Gifts-in-Kind

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Nonprofit organizations receive a variety of cash and noncash donations from the public. The recognition and measurement requirements related to noncash contributions are generally similar to those for cash contributions. That is, noncash items are measured at fair value and recognized as contributions when received. There are, however, accounting issues specific to certain types of noncash contributions, including gifts-in-kind.  Information About Gifts-in-Kind

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Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


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