Gifts in kind are another important way in which you can make your gift to RIT. Gifts in kind include donations of property other than cash and marketable securities such as real estate, works of art, books, equipment, furnishings, software and licensing.
A gift in kind requires a transfer of ownership of property from the donor to the university. RIT's gift office can assist in helping the donor account for the value as well as any stipulations as to how the gift will be used by RIT. The IRS requires the donor to determine the fair market value of the gift for individual, foundation, or corporate tax reporting purposes. The university will issue a gift in kind receipt consisting of a simple description of the donated property.
Acceptance of a gift in kind is made by the administration of RIT. Further, gifts in kind that involve unique provisions may require a written agreement between the donor and the university.
If you have questions or would like additional information on making a gift in kind to RIT, please contact Gift Services at 1.800.477.0376 (Monday through Friday, 8:30 a.m. to 5:00 p.m. EST)