Fair Market Value (As determined by the donor): $__________________________
PBSC Department Contact: ______________________________________________________________
Name (Please Print) Campus Phone Number
1. PBSC Foundation, Inc. Approval:
David A. Rutherford, Vice President, Institutional Advancement & Executive Director, Foundation Date
2. PBSC Risk Management Approval: _________________________________________________
John Garofalo, Manager, Safety & Risk Management Date
3. PBSC Approval: ________________________________________________________________
James E. Duffie, Vice President, Finance and Administration Date
Please expedite the approval of this form within 72 hours. Upon final approvals, the Foundation will
contact the PBSC Department Contact to notify them that the College can take possession of the Item(s)
being donated and a copy of the approved Gift-In-Kind Donation Form with the appropriate signatures.
• A gift-in-kind is a non-cash gift of physical property or service. Examples of gifts-in-kind include,
but are not limited to books, supplies, equipment, artwork, autos and collections.
• All gifts-in-kind must be accompanied by verification of the value of the gift as determined by the
donor (e.g. receipt, documentation, appraisals, etc.) In order to be tax deductible, the IRS
requires gifts of $5000 or more to be accompanied by formal third-party appraisal and the IRS
form 8283 completed by a registered appraiser and signed by the Executive Director. It is the
responsibility of the donor to obtain the appraisal and IRS form.
• Please note: Palm Beach State College and the PBSC Foundation, Inc. are prohibited by IRS
regulations from establishing monetary values for gifts of real or personal property. Donations
are tax deductible in keeping with IRS regulations.
• The Foundation reserves the right to legal review prior to accepting a non-cash gift.