As December dawns, many nonprofit organizations with a calendar year-end are hard at work calculating the value of the Gift-in-Kind donations they received. This includes the value of all airtime television and radio stations provided when they aired their Public Service Announcements (PSA) for free. That is because when a station airs a PSA for free it is donating the income it could have earned had it sold the time to a paying advertiser. Typically this can amount to many millions of dollars of donated media time over the course of a year.
Because the earned media is considered a Gift-in-Kind contribution that must be reported on an organization’s financial statements, we understand the importance of providing reliable values. We provide a meticulously- prepared Fiscal Year Report that meet the needs of nonprofit CFOs. Our report includes not just the dollar amount, but details on how the media valuations are calculated. This last part is important because starting in 2020, nonprofit CFOs following Generally Accepted Accounting Principles (GAAP) will be required to provide enhanced information that explains methodology used to calculate the value of free media received along with other forms of Gift-In-Kind donations they receive.
For more information, please contact Annette Minkalis, firstname.lastname@example.org or 212-624-9182.