How detailed are you getting with Donations/Gifts In-Kind?

We're a smaller nonprofit that's audited, aligns with GAAP, and files a full 990.

The team previously contracted with an accounting firm specializing in nonprofits until they hired me this year. In reviewing the firm's previously completed audits, they only tracked approximately $30K-40K/year in in-kind services and had not tracked any in-kind goods; being off-site, the firm didn't see the physical goods donations and hadn't implemented an in-kind policy. This would typically be a year-end JE that would account for free legal and marketing services.

If I were to track all volunteered skilled labor, all nonprofit specific discounts, and all donated goods, I'd estimate the in-kind value to increase to around $150K-$200K/year. Additionally, tracking with this level of detail requires a lot of education, enforcement, and review which I currently have time to do, but it may be a burden on the rest of the small team.

How detailed does your in-kind tracking and financial reporting get? Do you track discounts provided specifically to non-profits (e.g. TechSoup, Google, Microsoft licenses)? Do you have an auditor approved In-Kind policy you could share?

For such a small team, I don't want to overburden anyone by doing more than the industry standard/requirement. We haven't had any in-kind related audit findings the last two years so the old firm must have been compliant enough?

Thank you!

submitted by /u/NewNonprofitManager
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