If you are considering a non-cash gift such as real estate or a gift-in-kind, please call us at (585) 475-5500 or email us at email@example.com.
Gifts-in-kind are generally defined as non-cash donations of materials or long-lived assets, other than real and personal property. Gifts of materials or long-lived assets that are directly related to the mission of the institution will be evaluated internally prior to acceptance.
Gifts-in-kind might include such items as equipment, printed materials, food, beverages, or other items used for hosting an event, etc. Gifts-in-kind usually (although not always) come from companies, corporations or vendors, in contrast to individuals, who typically give personal property.
Real Estate and Personal Property Donations
All gifts of real estate require prior approval by the university. A gift of real estate may be a principal residence or vacation home, a farm, a commercial building, a subdivision lot, or unimproved land. The gift may be the entire property or a fractional interest in the property. RIT's Office of Gift Planning can walk you through the approval process.
Personal property is anything other than real property that is subject to personal ownership.
Real or personal property becomes a gift to the institution when a transfer of ownership has taken place. This occurs when the item(s) of property or clear title to the property has been delivered to the institution or the institution's legal agent.