From time to time, University faculty and staff may come across opportunities to obtain donations of personal property or equipment for use in their departments. The UConn Tax & Compliance Office, working in connection with the UConn Foundation, General Counsel's Office and other administrative units, has created guidance to assist the decision making process when determining whether accept such gifts.
The three-page guidance document seeks to share information about various administrative, tax and legal considerations associated with in-kind gifts, and also to address frequently asked questions regarding documentation and accounting procedures. Please feel free to share it with individuals in your department who frequently work with donors or process gifts of property or equipment.
The document is available at the UConn Tax & Compliance website through a link located under "General Information". A direct link to the .pdf document is available here.
For more information, contact: Nicholas Ferron at taxcompliance@uconn.edu