Gifts-in-Kind valued at less than $4,999 may be accepted by University Development staff including, but not limited to, Development Officers, Major Gift Officers and their supervisors. A GIK with a value of less than $5,000 will be recorded at $1, unless independent verification of the fair market value of the gift is provided to Advancement Services.
GIK’s with a value exceeding $5,000 must be reviewed for acceptance by the Gift Review Committee to ensure values are captured based on independent verification of the fair market value of the gift. Independent appraisals provided for the gift in accordance with IRS standards are preferred. Gifts with fair market values exceeding $5,000 should be recorded at the values placed on them by qualified independent appraisers, as required by the IRS for valuing non charitable contributions.
Gifts of $5,000 and under may be reported at the value declared by the donor or placed on them by a qualified expert on Pacific’s faculty or staff.