Gift-in-Kind Auction Donation Form Lane Community College Foundation 13th Annual Harvest Dinner - October 28, 2015 LCC Foundation Tax ID # 23-7113266 Please return this form and your items no later than September 25, 2015 for inclusion in our auction. Donor is responsible to comply with IRS regulations. If possible, Gift Certificates should be made valid through October 30, 2016 Would you like the Foundation to create your Gift Certificate for you? Yes No Can you deliver your donation? Yes No Date item will be available for delivery or pick up: __________________________________________ Please Mail Gift Certificates To: To Arrange For Item Pickup: Lane Community College Foundation 4000 East 30th Ave, Building 19, Room 270 Eugene, OR 97405-0640 Heather Lee: (541) 463-5777 Event and Stewardship Coordinator Email: [email protected] THANK YOU! Your donation of auction items will make a difference in the life of a student! Event proceeds support scholarships and programs at Lane Community College. Name: _______________________________________________________________________________________ (Please Print Your Name / Business Name As You Prefer It to Appear In the Program) Business Contact: _________________________________________ Title: _______________________________ Address: _____________________________________________________________________________________ City: _______________________________________ State: _____________ Zip: _______________ Phone: _______________________________________ Fax: __________________________________________ Email: Description of Donation (Example: quantity, size, color, # of rooms, price per item, etc.): ______________________________________________________________________________________________ Restrictions / Limitations: _______________________________________________________________________ Expiration Date: _________________________ Estimated Value: $ ____________________________________ Should your item not sell during the 2015 Auction, it will be considered an in-kind donation to the LCC Foundation for other purposes or future events. Foundation Use Only: Date Auction Item Received: _______________________ Located: Storage Binder Other ______________ Entered in GG: ______________ Date:_______________ Entered in RE:_____________ Date: ________________ Sold Value: $____________________________________ Purchased By: ___________________________________ Bidder Number: _________________________________ Notes: _________________________________________ LANE COMMUNITY COLLEGE FOUNDATION GIFT-IN-KIND INSTRUCTIONS Definition: Gifts-in-kind are gifts of property that are voluntarily transferred by a donor to Lane Community College without compensation. These gifts may include equipment, materials, supplies, artwork, and other personal property a donor might give to Lane for use in its educational programs or to the LCC Foundation for use in its annual auction or employee campaign. Gifts of services are not considered to be a taxdeductible contribution. Questions about specific gifts should be directed to the Foundation Director at (541) 463-5804. Donations up to $5,000: The donor and/or department representative completes the department’s portion of the Gift-In-Kind Acceptance Form or the donor and/or Foundation staff completes the Auction Donation Form. It is important to designate the department that the gift is to be credited to. All auction donations will be credited to the LCC Foundation Harvest Dinner & Auction Fund. Send the completed form, signed by the department head, to the Foundation for receipting. If the item(s) donated is over the fixed asset threshold and will remain in the department's possession, a fixed asset number must be assigned by Purchasing. Contact the Purchasing Department for assignment of this number. If the donation is from $500 to $4,999.99, in addition to the above, the donor will need to complete IRS Form 8283 and file with their tax return to claim the deduction. The donor should seek the advice of his/her tax consultant. Copies of Form 8283 are available at http://www.irs.gov/pub/irs-pdf/f8283.pdf. Donations of $5,000 and above: In addition to the steps outlined above, the donor should have the IRS Form 8283 signed by an authorized appraiser, which is required by the IRS and the Foundation, in addition to a copy of the appraisal. The Gift-In-Kind Acceptance Form shall be signed by the department head accepting the gift. For a gift of any such value, the donor should seek the advice of his/her tax consultant. If the item donated to Lane is sold, transferred or disposed of within two years from the date of the gift, the department shall notify Purchasing and the Foundation in writing, within one week of the sale, so the Foundation can comply with IRS regulations in reporting such a transaction. Not applicable to auction donations. Donations of Motor Vehicles: Donor must receive a contemporaneous written acknowledgment from the department (via LCC Foundation) receiving the vehicle. In addition to VIN or other vehicle identifier, the acknowledgement must contain the name and Tax ID # of the donor. Note: Under IRS regulations, the valuation of any gift-in-kind is the responsibility of the donor and/or authorized appraiser. Lane Community College and its employees are not authorized to give a value on any property to a donor for tax purposes. College employees may give a value to the Foundation for gift records only.
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