The basic federal estate-tax exclusion amount for estate of people who die in 2015 is $5,430,000, up from $5,340,000 in 2014.
WHO: One could be excused for thinking that donors of limited means would be the only sort to donate tangible property, but in fact virtually any donor is a prospect for in-kind gifts. Some examples:
Acceptance of an in-kind gift imposes a legal obligation on your organization: You have to comply with the terms established by the donor. As such, it's in your interest to be certain that the nature and extent of all obligations are clearly understood by both parties and are established in writing.
Questions to answer before you accept an in-kind gift:
Early in any conversation with a potential donor about an in-kind gift, make certain the tangible personal property they are considering as a gift is an item that can be used in the course of your organization's business.