Determining Fair Market Value of Donated Goods & Services

Overview

While fundraising events provide an opportunity for non-profits to secure basic income, an essential aspect of your budget is calculating the donations’ fair market value to comply with Internal Revenue Service (IRS) regulations. 

These regulations regarding substantiation and disclosure requirements for tax-deductible donations to charity have been in place for many years. However, these guidelines can be far from clear when non-profit managers and fundraisers attempt to apply them in the real world. While not legal advice, this course provides a quick overview of how to determine fair market value of donated goods and services. 

LEARNING OUTCOMES

  • Learn how to calculate the fair market value of the goods and services the attendee or organization receives in exchange for attending the event
  • Obtain references for budget and regulatory questions and issues 
  • Gain an understanding of the difference between an event producer and a certified fundraiser

Course Information

Estimated Time: 6 mins

Categories:

CMP Credit Hours:

Michelle French

Michelle French is a storyteller at heart. Every event she produces tells a tale, delivers a message, and has an effect that continues long after the tables are cleared and the last attendee exits the venue.

The insights and skills that go into creating meaningful events had their beginnings when Michelle was a student at the Indiana University Kelly School of Business, where she majored in marketing and international studies. After working for American Airlines as part of the sales team and being present for 9/11, Michelle considered how she might use her talents to make a difference. Heading West, Michelle became the Event Manager for the California Science Center, and within six years, the company experienced rapid growth.

In 2009, Michelle founded Sunday Sol Events, where she applies the principle that her work isn’t complete with just one event but must fit into a client’s long-range plans. As Michelle works on telling the story of each organization, she focuses on the audience. Are we sending a clear message? Is there a call to action? Are we inspiring them? This unique approach is what sets Sunday Sol Events apart.

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