KXNM Policy on Documenting Donated Goods or In-Kind Professional Services
Definition of Professional Services
The term donated professional service is defined as a service that is the same of similar to one the donor provides to paying customers for a fee. In-kind Professional Services are limited only to donors who are actively engaged in selling the same or similar services to other organizations and include the following services:
How to Value Donated or In-kind Professional Services
The value of In-Kind Professional Services is limited to the donor’s usual and customary fee charged to paying customers for equivalent services (e.g. What does lawyer charge other stations for the same services provided to KXNM?).
Documentation Required for Donated Professional Services
KXNM uses a standardized form to document In-Kind Professional Services, which must
include the following information:
KXNM Policy on Documenting Donated Goods or In-Kind Professional Services
Definition of Professional Services
The term donated professional service is defined as a service that is the same of similar to one the donor provides to paying customers for a fee. In-kind Professional Services are limited only to donors who are actively engaged in selling the same or similar services to other organizations and include the following services:
- Engineering
- Accounting, Financial, Legal
- Station Management
- Programming Management
- Underwriting Sales
- Trades (e.g. Construction, Electrical, Internet, etc.)
- Grant Writing
- Website Design and Maintenance
How to Value Donated or In-kind Professional Services
The value of In-Kind Professional Services is limited to the donor’s usual and customary fee charged to paying customers for equivalent services (e.g. What does lawyer charge other stations for the same services provided to KXNM?).
Documentation Required for Donated Professional Services
KXNM uses a standardized form to document In-Kind Professional Services, which must
include the following information:
- Donors name, address and other identifying characteristics
- A description of the services provided
- Date(s) of the services provided between July 1, 2015 – June 30, 2016)
- Value of the services provided (e.g. lawyers hourly rate X hours worked)
- Statement of the donors intent to donate services
- Signature, name and title of donor