Invoice Donated Goods - PowerPoint

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					Match

        Section 5
    Finding Match
           Cash:                  In-kind contributions:
   Donations                  Value of donated services
   Non-Federal income           and/or donated goods
   Local governments                     
   State appropriations      Labor  space  vehicles 
                                  training  supplies 
   Foundation grants or                 equipment
    corporate contributions



       Government-wide, with few rare exceptions,
    Grantees cannot use other Federal funds as match
      Recording In-kind
      Contributions
   Maintain adequate documentation to support
    amounts claimed as match
   Maintain same documentation for both CNCS
    Federal share and for grantee’s share
   Documentation must meet same standards as
    other expenditures
   Record donation and valuation of item in detail
   Enter into the general ledger as income and
    expenditure
   Failure to enter match contributions into general
    ledger requires a formal explanatory policy and
    separate spread sheet accountability of receipt and
    use
Acceptable Sources of In-
Kind Contributions


   Equipment   Space   Utilities
Acceptable Sources of In-Kind
Contributions (Continued)



Airfare

                     Member
                     Supervision
Acceptable Sources of In-Kind
Contributions (Continued)

   Professional Services
     Documenting In-Kind
     Contributions
1. Document the basis for determining value of personal
   services, material equipment, building, and land
2. Obtain written acknowledgement of the contribution
   including:
         Name and signature of donor
         Date and location of donation
         Detailed description of item/service
         Estimated value of contribution, how value was
          determined, who made the determination
       Was the contribution obtained with Federal funds


      *** Keep a copy of the receipt in your files ***
Valuation of In-Kind
Contributions

 Contributed Service                    Valued                Documentation
Professional or specialized   Normal rates consistent      Invoice denoting rate,
service                       with fair market value       hours and total cost


Employee of corporate         Hourly or daily rate, plus   Timesheet, payroll with pay
sponsor or related            fringe benefit rate          rate and time sheet with
organization                  multiplied by hours          hours and rate


Volunteer service that        Minimum wage or              Timesheet, payroll record
enhances the entire           volunteer rate if known      with pay rate and time
organization (not directly                                 sheet with hours and rate
related to the program)
    Financial Statements
    In-Kind Contributions Examples

   The following were donated to a grantee during
    the fiscal year:
      Training services valued at $3,544

      Office space valued at $12,000

      Office supplies valued at $6,000

      Services of volunteers working side-by-side
       with AmeriCorps members valued at $10,000
   The following pages show the financial statement
    presentation
                      Teach Tech
                    Statement of Activities                          6,000
                      March 31, 2002
                                                                   12,000
Revenues and Other Support                                          3,544
                                                                   21,544
AmeriCorps Grant                                     $    56,000
Contributions                                             21,544

Total Revenues and Support                                77,544

Expenses
 Salaries and Living Expenses                             39,400
 Benefits                                                  7,000
 Consultants                                               1,000
 Staff travel                                              1,000
 Supplies                                                  6,000
 Communications                                            1,050
 Rent                                                     12,000
 Donated Services                                          3,544
 Depreciation expenses                                     4,000
 Other expenses                                            1,590
Total Expenses                                            76,584
Excess of Revenues and Other Support Over Expenses          960
Beginning Net Assets                                     300,416
Ending Net Assets                                    $   301,376
                                                     FINANCIAL STATEMENT
                      Teach Tech                       WITHOUT IN-KIND
                    Statement of Activities             CONTRIBUTIONS
                        March 31, 2002

Revenues and Other Support

AmeriCorps Grant                                        $    56,000


Total Revenues and Support                                   56,000

Expenses
 Salaries and Living Expenses                                39,400
 Benefits                                                     7,000
 Consultants                                                  1,000
 Staff travel                                                 1,000
 Communications                                               1,050
 Depreciation expenses                                        4,000
 Other expenses                                               1,590
Total Expenses                                               55,040
Excess of Revenues and Other Support Over Expenses             960
Beginning Net Assets                                        300,416
Ending Net Assets                                       $   301,376

				
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