Former athletic club property donated to Gaston County Schools

Former athletic club property donated to Gaston County Schools

GASTONIA — Gaston County Schools is pleased to announce the acquisition of the former Armstrong Athletic Club property located at 3372 Robinwood Road in Gastonia. The property, valued in excess of $2 million, is a generous gift presented to Gaston…

Putting a Value on Tangible Property Donations

If a donor suddenly offered your not-for-profit a residential property, antique jewelry or inventory from a business, would you know how to value it? Perhaps you don’t receive these types of contributions often, but you also don’t want to turn them down. If a property donation relates to your organization’s tax-exempt function, it’s generally valued based on its fair market value (FMV). But there are exceptions to this rule. Let’s take a look. O…