Policies & Procedures

Policy 7.4: Gifts In-Kind Donations

Gifts in-kind refer to contributions of products, inventory or services to the college.

This policy establishes the conditions under which gifts in-kind may be accepted by the college and assigns authority for such acceptance.

Authority to accept gifts in-kind is provided under Minnesota Statute 136F.80 and outlined inMinnesota StateBoard Policy 8.1 (Gifts and Grants). Under that policy, 澳门网上博彩nical College is authorized to accept all gifts valued under $50,000 with the exception of real property, on behalf of the Board of Trustees.

All gifts of real property must be formally accepted by the Minnesota StateBoard of Trustees as well as gifts in- kind valued at over $50,000. All donations of equipment to the College shall be approved by the appropriate administrators prior to being accepted.

Gifts in-kind should enhance either the college's day-to-day operations or its mission and goals. Therefore, the college should not accept gifts that are obsolete, damaged or unrelated to its mission/operations.

As outlined in Minnesota StateBoard Policy 8.1, the following must also be considered before accepting gifts in- kind:

 Any potential tort liability

 Any conflicts of interest

 The cost of altering, operating or maintaining the gift property

 Any cost associated with hazardous waste

 Any taxes or special assessments that must be paid prior to the transfer of the gift title

The appropriate administrator will deem the gift appropriate for acceptance by signing documentation as described in the corresponding ATC Procedure 7.4.1. All paperwork related to a gift in-kind will be forwarded to the ATC President's Office for acknowledgement of the gift.

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