Re: [TheThinkTank] How do you keep track of your in kind donations?
For clarification (particularly on balance sheets) "in-kind" is not a
blanket term to use whenever there is something exchanged in w/o cash.
There is a critical distinction between donations coming in to your
org, and donations going out that your org makes.
"In-kind expenses" represent donations coming in to your shop (i.e.,
they are assets you've received that you would have otherwise had to
pay for).
"In-kind donations/contributions" represent donations your shop is
making out into the world.
Also, importantly, you can't consider trades to be donations because
you have the same on-paper asset value at the end of the transaction.
Cheers, Clifford McCarten Co-Director, B!KE: The Peterborough Community Bike Shop communitybikeshop.org 400 Wolfe St, Peterborough ON K9J 2P3 (705) 748-6681
Thanks, everyone! All of your perspectives and advice help a lot!
-rachael
On Fri, Jul 17, 2009 at 10:54 AM, Clifford McCarten < director@communitybikeshop.org> wrote:
For clarification (particularly on balance sheets) "in-kind" is not a blanket term to use whenever there is something exchanged in w/o cash. There is a critical distinction between donations coming *in *to your org, and donations going *out* that your org makes. "In-kind expenses" represent donations coming in to your shop (i.e., they are assets you've received that you would have otherwise had to pay for).
"In-kind donations/contributions" represent donations your shop is making out into the world. Also, importantly, you can't consider trades to be donations because you have the same on-paper asset value at the end of the transaction.
Cheers, Clifford McCarten Co-Director, B!KE: The Peterborough Community Bike Shop communitybikeshop.org 400 Wolfe St, Peterborough ON K9J 2P3 (705) 748-6681
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participants (2)
-
Clifford McCarten -
rachael spiewak