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ASUHIC gifts in kind

Posted by nfranz on February 12, 2016 - 10:29pm in Collections

Opportunities for making gifts in kind

The Hasbrouck Insect Collection has established a clear and efficient process for facilitating donations of specimens as "Gifts in Kind". Such gifts are ultimately processed through the ASU Foundation, with an option to utilize the charitable donation to receive tax deductions (see also here).

We work closely and respectfully with prospective donors to ensure a smooth and mutually beneficial donation process. Your specimens are immensely appreciated and of great value to ASUHIC, to science, and to the general public. Such donations have become an important part our growth and impact trajectory.

Please do not hesitate to contact us if you are considering a specimen donation to the Hasbrouck Insect Collection.

According to Internal Revenue Service regulations, the donor is responsible for appraising the value of their donation. Annual donations appraised at more than $5000 require an independent, external appraisal. For donation lower than that threshold, we are able to facilitate a spreadsheet-based "formula" to help assess the value (see downloadable file below). This formula is widely used by public insect research collections in the United States.

Donations are accepted at any time but must be fully processed before December 31 of the current year to be considered for tax/accounting purposes. Once the intention of a donation is transmitted, the ASUHIC team assumes responsibility to handle much of the necessary paperwork. The donation and related forms are reviewed for completeness, and recalculations are performed if necessary. Then a Letter of Acknowledgment is sent out to the donor, typically within two weeks of the date of receipt. 

The following documents provide additional information.

1. Assess the value of your gift in kind:  FSCA Specimen Donation Estimation Form - also as spreadsheet:  FSCA Specimen Donation Estimation Form

2. Download ASU's gift in kind approval form:  ASU Gift in Kind Approval Form

3. Download IRS Form 8283 - Noncash Charitable Donations:  IRS Form 8283

4. Contact for specimen gifts in kind to ASUHIC: Sangmi Lee