This procedure describes the role of the Lane Community College Foundation (LCC Foundation) in administering gifts, and the role of the donor in valuing donations. The LCC Foundation is a separate legal entity from Lane Community College and is a 501(c)(3) nonprofit organization whose policies and procedures are governed by its Board of Trustees.
The LCC Foundation administers gifts and private grants in strict compliance with the instructions of the donor and IRS regulations. If a gift is not accompanied by instructions, its use is determined by the Foundation Board of Trustees.
Gift Acceptance Policy
Gift acceptance is governed by the LCC Foundation’s board-approved gift acceptance policy. View the Gift Acceptance Policy in full.
Guidelines for Requesting Disbursements
View the Guidelines for LCC Foundation disbursements to or on behalf of Lane Community College.
Gifts of Equipment & Materials: Any donation of equipment or materials to Lane Community College for use in college programs must be approved by the appropriate department head. After approval, the department receiving the gift will complete an LCC Foundation Gift-In-Kind Acceptance Form, following the directions on the back of the form provided by the LCC Foundation, and inform LCC Purchasing Department and/or LCC Facilities Management.
Gifts of Motor Vehicles, Boats and Airplanes: In addition to the completed Gift-in-Kind Form (including donor's Tax ID Number and/or Social Security Number), please provide the LCC Foundation with a copy of the Vehicle Certificate of Title (front and back), copy of the Bill of Sale, IRS authorized appraisal (if value is over $5,000.00), IRS Form 1098-C and IRS Form 8283.When an in-kind gift of a vehicle, boat or airplane has been received by the department, please inform the LCC Purchasing Department for assignment of a fixed asset number. The department representative shall also contact Facilities Management & Planning and complete a separate process for title transfer (Oregon Department of Motor Vehicle). If the gift requires a transfer of title, it is the responsibility of the department accepting the gift to make sure the title transfer is accomplished.
Valuation: The valuation of a gift-in-kind is the responsibility of the donor. The donor may give an estimate of the fair market value, provide copies of internet research, receipts showing what they paid for the item (if it is relatively new), or provide an appraisal (if value is over $5,000.00). As the recipient of a gift, Lane Community College and its employees are not considered authorized appraisers and shall not suggest a value to the donor for tax purposes.
In-Kind Donations of $5,000 and above: If the donation is $5,000 or more, the department representative accepting the gift shall inform the donor that an IRS Form 8283, signed by an authorized appraiser, is required by the IRS and the LCC Foundation, in addition to a copy of the appraisal.
Gift Acknowledgement: After the gift-in-kind form is received by the LCC Foundation, a letter of acceptance (tax receipt) will be sent to the donor. This letter will include a full description of the equipment or materials donated and the Foundation's tax identification number.
Sale or Disposition of Donated Equipment & Material: If donated equipment or material is sold or disposed of within three years of its receipt, the LCC department shall notify the LCC Foundation. The LCC Foundation will file Form 8282 with the IRS.