XYZ Company donated some equipment to our PSU department. How should we proceed?
Complete the Report of Gift or Grant form and submit it to the Property Control Clerk at PSU. A written appraisal or qualified outside source should be used to determine fair value of donated items and a letter of acknowledgement should be sent to the donor. If gift value exceeds $2,500 (per item), then equipment will be added to Fixed Assets inventory for Minor Equipment.