Gift In-Kind Policy

  • Gifts in-kind are donations of property other than cash. They can include donations of land, buildings, marketable securities, equipment, furniture, vehicles promotional items and raffle and auction prizes.
  • Gifts in-kind do not include gifts of services and are not receiptable under Canada Revenue Agency regulations.
  • The acceptance of the gift by Fife House is predicated on proper proof of value and the ability for the organization to use the gift.
  • In accordance with Canada Revenue Agency, the charitable receipt issued to the donor must equal the fair market value of the gift. If this value is not easily determinable, an independent appraiser must be solicited to determine the fair market value.
  • Definition – Fair Market Value (FMV) The highest dollar value, expressed in terms of money, that the property would bring in an open and unrestricted market between a willing buyer and a willing seller who are both knowledgeable, informed, and prudent, and who are acting independently of each other.
  1. For new goods received, Fife House must look at the following (whether or not a tax receipt is being issued):
    •  Identify that the items are a donation, which the receiving unit would like to accept.
    • Obtain written documentation from the donor identifying the item(s) as a donation or gift to Fife House.  
    • If the donor is an individual, obtain either current retail price information from an independent source (ie. catalogue) or a copy of the receipt used to purchase the items by the donor in order to determine fair market value.
    • If the donor is a company and the gift is from their own inventory, obtain an invoice from the company donating the goods indicating that the invoice is not to be paid; and, a copy of an inventory price list that shows the item(s) being donated and what they would normally be sold for. If this information cannot be obtained, an appraisal may be required in order to determine fair market value.
  2. For used goods received, Fife House must look at the following (whether or not a tax receipt is being issued):
    • Identify that the items are a donation, which the receiving unit would like to accept.
    • Obtain written documentation from the donor identifying the item(s) as a donation or gift to Fife House.  
    • Obtain the appropriate independent appraisal, from a qualified appraiser, for items being donated with an estimated value of $1,000 or greater. If the gift is $1,000 or less in value, an appraisal can be made by a qualified member of the organization.
    • All costs of appraisals are the responsibility of the donor.