Doug Donovan and Caroline Preston in the Chronicle of Philanthropy have written another article on inflated gift in kind valuations. Here is an interesting quote “Accounting principles may be applied differently by different groups to similar facts, but at some point this matter of how in-kind contributions are valued becomes much more significant than mere reasonable differences of interpretation among nonprofit accountants,” Mr. Tighe said in an e-mail. “It goes to the matter of public trust.”
You can read the full article at:
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Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.