Gifts-in-kind are non-monetary items of tangible property such as art, books, real estate, animals, equipment, plants, vehicles and other physical assets or materials, which may be of value to the college. Such gifts are used by the college, or may be sold by the SUNY Cobleskill Foundation, with the proceeds used to benefit that area. Donors may designate these gifts as unrestricted, or chose an area they wish their gift to benefit.
When offered a gift-in-kind, the SUNY Cobleskill Foundation will consider if the gift has use within the institution or if it can be sold to benefit the College. Consideration is given to the cost of accepting the gift (i.e., shipping and handling charges), the long-term viability of the gift (i.e., maintenance costs, storage fees, insurance rates, etc.), and the resale market if the gift is to be sold. Some gifts require paperwork documenting ownership (i.e., a signed title for a car or boat).
Income tax charitable deductions are available for a gift-in-kind.