Gift in Kind Policy

Please read our policy statement before completing our Gift in Kind Donation Form.

GIFT IN KIND POLICY STATEMENT:

Home Run Hitters International, Inc. actively seeks and welcomes non-cash gifts for support of its programs. Gifts-in-kind (non-cash gifts) are primarily given for direct use by the organization, or for sale at one of the organization's various fund raising auctions held throughout the year.

Upon receiving a gift-in-kind, Home Run Hitters International, Inc. will officially acknowledge the gift by providing the donor with a letter that includes a full description of the gift-in-kind, and the purpose for which it is given to the organization. The appraisal of a gift-in-kind to the organization, however, is the responsibility of the donor since it is the donor, not the organization, who benefits from any tax deduction associated with the gift. To protect both its donors and itself, Home Run Hitters International, Inc. is not able to assign values to gifts given, nor is it able to pay for appraisals of gifts-in-kind.

For gifts-in-kind valued at less that $250:

It is the responsibility of the DONOR to provide the fair market value of the donated item and a reasonably detailed description of the item.

It is the responsibility of HOME RUN HITTERS INTERNATIONAL, INC. to provide a letter or other written communication acknowledging receipt of the contribution including the name of the organization, the date and location of the contribution, and a reasonably detailed description of the item. This acknowledgement WILL NOT state a value.

For gifts-in-kind valued at $250 to $500:

It is the responsibility of the DONOR to provide the fair market value of the donated item and a reasonably detailed description of the item.

It is the responsibility of HOME RUN HITTERS INTERNATIONAL, INC. to provide a letter or other written communication acknowledging receipt of the contribution, including the name of the organization, the date and location of the contribution, a reasonably detailed description of the item, and a statement of any benefits to the donor in a return for the donation. This acknowledgement WILL NOT state a value.

For gifts-in-kind valued at $500 to $5,000:

Same as for $250 to $500.

For gifts-in-kind valued at over $5,000:

It is the responsibility of the DONOR to provide a reasonably detailed description of the item and a qualified written appraisal of the donated property from a qualified appraiser and attach IRS Form 8283 with section B completed.

It is the responsibility of HOME RUN HITTERS INTERNATIONAL, INC. to provide a letter or other written communication acknowledging receipt of the contribution, including the name of the organization, the date and location of the contribution, a reasonably detailed description of the item, and a statement of any benefits to the donor in return for the donation. This acknowledgement WILL NOT state a value. The organization will also sign and return IRS Form 8283 to the donor. If the property is sold within 2 years after the date of receipt of a contribution requiring Form 8283, the organization must file an information return with the IRS on Form 8282, Donee Information Return.

For gifts-in-kind valued at $10,000 or more, HOME RUN HITTERS INTERNATIONAL, INC. must obtain the permission of the Board of Directors to accept the donation.

The responsibilities of the donor are the same as for gifts-in-kind valued at over $5000.

The responsibilities of the organization are the same as for gifts-in-kind valued at over $5,000.

FOR FUND-RAISING AUCTIONS:

Before the auction is held, HOME RUN HITTERS INTERNATIONAL, INC. requires the receipt of all information pertaining to donated items that will be needed to acknowledge the donations (see information above). At the time of the auction, the fair market value of each item must be available to bidders, whether listed on bid sheets or in a catalog provided to the participants.

After auctions are over, the organization will require a list of the items sold, the amount for which the items were sold, the fair market value of the items, as well as the names and addresses of the purchasers.

Regarding donated items used for fund raising auctions, if a bidder pays more than the amount stated at the fair market value of the item, the amount paid over that value is a tax-deductible gift to the organization. Otherwise, a bid amount at or below the stated fair market value of the item IS NOT considered a tax-deductible gift TO THE DONOR. It can be included in totals reported for fundraising efforts of the organization.

For further information please contact our Financial Director - 281-413-5254

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