In-Kind Gifts
All non-cash gifts are “in-kind gifts” which are typically classified in three categories: 1) equipment and supplies, 2) service, and 3) other (such as art objects, antiques, jewelry, securities and real estate).
In-kind gifts to GBC must be directed through Great Basin College Foundation. College employees or Board members who receive offers of equipment, property or services must consult the Foundation office at 775.753.2246 or gbcfoundation@gbcnv.edu. Additionally, the donor must complete our In-Kind Gift Form prior to gift acceptance.
Foundation staff considers several issues before accepting an in-kind gift:

• Does the college have a need for the donated item?

• Does the gift obligate the Foundation/College to financial commitments in excess of budgeted items or other obligations disproportionate to the use of the gift? These could include, but are not limited to environmental remediation, upkeep expenses, insurance liabilities, and display, delivery, or space requirements for storage or exhibition.

• At a minimum, the approval of the Executive Director of GBCF is required to accept all in-kind gifts. Further approval may be required from the Finance Committee of GBCF, the Full Board of Trustees of GBCF, the President of GBC, and the NSHE Board of Regents.

Gift Appraisals (Federal Tax Documentation)
Neither the Foundation nor the College places a value on donations for federal tax purposes. When gifts-in-kind are given to the Foundation with the intent of the donor to receive a tax deduction, it is the responsibility of the donor, not the Foundation, to obtain an appraisal of the gift for tax purposes. Internal Revenue Service policy does not allow the charity issuing the receipt to become involved in the appraisal process.