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Nonmonetary Gifts

Grantseekers Guide

A nonmonetary gift is also known as an “in-kind gift” and a “non-cash gift.” Common examples are equipment, historical items, art, books, furniture, software, silent auction items, and donors’ expenses to host university events. The IRS does not allow gifts of partial interest (e.g., offering hotel rooms or loaning an item) or services, including advertising, to count as charitable gifts.

Nonmonetary gifts are important to the university; for example, such gifts can substantially increase the value of a collection or provide significant cost-savings on equipment that would otherwise need to be purchased. The donor also receives benefits, including a tax deduction and university recognition of the gift.

Accepting Nonmonetary Gifts at UT Austin

 UT Austin may count gifts of real and personal property (tangible and intangible) that qualify as a charitable deduction for a donor at fair market value regardless of the value the donor may be able to take as a charitable deduction. IRS requirements for gift substantiation note that the donor has the responsibility for independently valuing property for tax deduction purposes.

Nonmonetary Gifts Requiring Special Handling

  • Gifts with a fair market value over $5,000: The donor may ask the university to fill out Part IV of the IRS Form 8283. The 8283 form can only be signed by the University Development Office. An appraisal is also required and must be completed by a qualified appraiser between 60 days before the gift was made and the deadline for income taxes.
  • Gifts of stock are handled separately by UT System.
  • Gifts of software must be approved by Software Licensing (software@austin.utexas.edu). UT System rules do not allow UT Austin to count the value of software gifts in its charitable fundraising totals.

To accept a nonmonetary gift, submit a Nonmonetary Gift Acceptance Form and any supporting documentation to Kerry Fisher at Gift & Data Services in the University Development Office. The Corporate Deed of Gift can be used as a written agreement to accept a donation from a company. Inventory Services will be notified once the gift has been processed.

All gift agreements provided by a donor for signature need to be reviewed by the University Development Office or the Office of Legal Affairs. The acceptance process is important because of the risk to the university if certain gifts are accepted.

For assistance please contact Kerry Fisher at fisher@austin.utexas.edu or 475-9710; campus mail F1000.