In-Kind Donation Policy

 

1. Purpose:

This policy outlines the guidelines and procedures for accepting and acknowledging in-kind donations (non-cash contributions of goods, materials, equipment, products, or services) to the "Forged By Valor" Welding Program. This policy aims to ensure ethical, transparent, and compliant practices in receiving and documenting such donations.

 

2. Definition of In-Kind Donations:

In-kind donations are non-monetary contributions that provide value to the Welding Program. These may include, but are not limited to:

  • Welding materials (e.g., steel, aluminum, welding rods, gases)

  • Welding equipment (e.g., welders, cutting torches, safety gear)

  • Tools (hand tools, power tools)

  • Safety equipment (e.g., helmets, gloves, protective clothing)

  • Products relevant to the welding trade

  • Program support items (e.g., branded swag, office supplies)

  • Professional services (e.g., marketing, technical expertise – to be evaluated on a case-by-case basis)

 

3. Acceptance of In-Kind Donations:

  • Relevance to Program Needs: All in-kind donations must be relevant to the needs and objectives of the "Forged By Valor" Welding Program and directly benefit our participants' training and educational experience.

  • Usability and Condition: Donated goods should be in usable condition, safe for their intended purpose, and free from significant defects or hazards. The Program reserves the right to decline donations that are unusable, unsafe, obsolete, or would create an undue burden for storage, maintenance, or disposal.

  • No Obligation to Accept: The "Forged By Valor" Welding Program reserves the right to refuse any in-kind donation at its discretion, without obligation to provide a reason.

  • Review Process (Optional for Certain Items): For significant donations of equipment or materials, a review process involving program staff and potentially technical experts may be conducted to assess suitability, safety, and potential maintenance requirements.

 

4. Donor Responsibilities:

  • Accurate Description: Donors should provide an accurate description of the donated items, including their condition and any relevant specifications.

  • Valuation: Donors are solely responsible for determining the fair market value of their in-kind contribution for tax purposes. The "Forged By Valor" Welding Program will not provide valuations.

  • Documentation for Tax Purposes: Donors should maintain their own records and obtain any necessary appraisals (especially for items valued over $5,000) as required by the Internal Revenue Service (IRS).

 

5. Program Responsibilities (Acknowledgment and Documentation):

  • Formal Acknowledgment: The Program will provide a written acknowledgment letter to the donor for all in-kind donations received. This letter will include:

    • The name and address of the "Forged By Valor" Welding Program.

    • The donor's name and address.

    • A description of the donated item(s) and the date of the donation.

    • A statement that no goods or services were provided by the Program in consideration for the contribution, if applicable.

    • The Program's EIN (if applicable).

    • A statement thanking the donor for their support.

    • The signature of an authorized representative.

  • No Valuation Provided: The acknowledgment letter will explicitly state that no value has been assigned to the donated items by the "Forged By Valor" Welding Program.

  • Internal Record Keeping: The Program will maintain internal records of all in-kind donations received, including donor information, description of items, date received, and a copy of the acknowledgment letter.

  • IRS Form 8283 (Donee Acknowledgment): For donations of property with a claimed value of over $5,000, the Program will complete and sign Part IV (Donee Acknowledgment) of IRS Form 8283, acknowledging receipt of the property but not the donor's valuation.

 

6. Use and Disposal of Donated Items:

  • The "Forged By Valor" Welding Program will have the sole discretion to determine the use and disposition of all in-kind donations. This may include direct use in training, integration into program operations, or disposal if the items are no longer needed or suitable.

 

7. Contact Information:

For inquiries regarding in-kind donations, please contact:  donations@forgedbyvalor.com

 

8. Policy Review:

This policy will be reviewed periodically and may be updated as needed to ensure its effectiveness and compliance with applicable regulations.