Gifts In Kind

From donations of personal or corporate contributions, gifts-in-kind ensure that The Compass Fund is able to continue to support our current scholarship recipients with the hope future expansion. Gifts-in-kind are gifts of real property such as tangible personal property such as equipment, materials, company products, or inventory.

In-kind gifts can be gifts of professional services or goods made directly to The Compass Fund. If these goods or services are ones that The Compass Fund would otherwise have to purchase, the gift may be recognized for tax purposes at the fair market value. If you have any questions on making an in-kind gift, contact The Compass Fund Office at ext. 860-659-0050 x11 or Michele Hull at mhull@grovecapital.com.

Gifts of Equipment and Material

The Compass Fund encourages and appreciates gifts-in-kind, such as remote teaching aids, general supplies for classrooms, uniforms, reading materials, musical instruments, and other materials that The Compass Fund would otherwise need to purchase. Through gifts-in-kind, supporters help The Compass Fund strengthen programs and improve facilities to provide the best possible educational experience to our students. Unlike contributions of cash or securities, in-kind gifts allow donors to receive the benefit of a charitable contribution without drawing on their cash reserves.

Acceptance Policy

All gifts-in-kind are reviewed, accepted, and officially acknowledged. Prior to acceptance, the gift is reviewed to see if it meets students' needs. The Compass Fund reserves the right to decline any gift that does not further The Compass Fund's goals or involves special maintenance or other conditions The Compass Fund would be unable to satisfy. The donor is responsible for making arrangements to deliver the gift.

Appraisal Guidelines

In accordance with Internal Revenue Service regulations, the donor is responsible for determining the value of an accepted gift. Before presenting a gift of tangible property to The Compass Fund, donors should first establish the fair market value of the gift with a recognized independent appraiser. A qualified appraisal dated no more than 60 days prior to the date of contribution is required by the IRS to substantiate a donor's charitable deduction for gifts-in-kind. The Compass Fund Board of Directors are not qualified appraisers and federal regulations do not permit The Compass Fund to provide appraisals or estimates of value.