Gifts In Kind
Over the years, Holy Cross Prep has been fortunate to receive goods and services from alumni and friends - FOR FREE. These goods included whiteboards, reams of paper, furniture, laptop cases, etc. Some of the services rendered included carpentry work, landscaping, entertainment (DJ, band) and irrigation work on our athletic fields.
Holy Cross Preparatory Academy encourages and appreciates these types of donations - materials and services that our school would otherwise need to purchase. These donations are defined as a Gift In Kind.
A Gift In Kind (also referred to as an in-kind donation) is a type of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given. These tangible goods can include things like equipment, books, cars, clothing, furniture and supplies.
Through gifts-in-kind, supporters help the school strengthen programs and improve facilities to provide the best possible educational experience to our students. Unlike contributions of cash or securities, in-kind gifts allow donors to receive the benefit of a charitable contribution without drawing on their cash reserves.
All gifts-in-kind are reviewed, accepted and officially acknowledged. Prior to acceptance, the gift is reviewed to see if it meets school needs. Holy Cross Prep reserves the right to decline any gift that does not further the school's goals or may involve special maintenance or other conditions the school would be unable to satisfy. In most cases, the donor is responsible for making arrangements to deliver the gift.
Holy Cross Prep does not provide gift valuation. In accordance with Internal Revenue Service regulations, the donor is responsible for determining the value of an accepted gift. Federal regulations do not permit the school to give appraisals or estimates of value.
Additional information about appraisal requirements can be found in IRS Publication 561 available here (PDF).
Making A Gift In Kind Donation
Please have the following information ready:
An accurate description of the goods or services.
Quantities and costs to help determine a monetary value of what the school would have spent to purchase the goods or services.
Complete donor contact information - Company name (if applicable), Contact name, Address, Phone, Email, Connection to Holy Cross, etc.
Any other information you think is relevant to the transaction
For information about the Gift In Kind contributions, please contact:
Director of Institutional Advancement
856-461-5400 Ext 3006