Merchandise, Goods, Services

A gift other than cash or negotiable instrument is referred to as a gift-in-kind. Such a gift can be in the form of merchandise, goods, or services, such as: equipment, supplies, software, meals, plane tickets, printed materials, etc.  Gifts-in-kind are accepted only after the usefulness of the gift has been determined.  If the gift cannot be used in the best interest of Oconomowoc Memorial Hospital, the donor will be notified.

One area in which merchandise, goods, and services can be particularly helpful is with events that the Foundation sponsors in order to raise donations forOconomowoc Memorial Hospital.  Donations help lower the costs of these events and add to the net donation to the program or purpose being sponsored.  Please check out our Foundation Events page for information on upcoming opportunities to make gifts of merchandise, goods or services..

Tax benefits

Your gift may provide you with federal and state income tax benefits:

• If you itemize deductions on your federal income tax return, you may be able to deduct your contribution to the Foundation from your adjusted gross income. In addition, gifts of appreciated property avoid long term capital gains tax. Check with your tax advisor for deduction and capital gains tax requirements and limitations for your situation.
• Your state may also allow a credit or deduction.

The donor is responsible for having the gift appraised.  IRS regulations must be followed and IRS form 8283 completed if the appraised value is $5,000 or more.  IRS regulations do not allow the Foundation to place an amount on a gift in-kind, only to state that the gift was given.

If you believe you have a potential gift-in-kind, please contact us or call 262-569-0222.