SCHOLASTIC BOOK GRANTS IN-KIND DONATION APPLICATION 2025

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This includes our 30-year corporate partnership with Save the Children through which we provide millions of children access to quality books through literacy and early education programs, and ongoing partnerships with organizations such as Reach Out and Read, Book Harvest, Book Trust, The National Book Foundation, and
Record the in-kind donation. As mentioned above, youll record your in-kind donation in a separate revenue account within your chart of accounts. In general, in-kind donations will have no impact on your entitys net income because youll record the value of the donation as both a revenue and expense item.
Recording In-Kind Donations of Goods: Record the fair market value of the donated items on the day that they were received (or pledged, if not delivered immediately). Classify the revenue as in-kind revenue or the appropriate revenue account on your chart of accounts.
Submit via the Correct Method: Scholastic may accept submissions via email, postal mail, or an online submission portal. Make sure to follow their specified method for submission. Wait for a Response: After submitting, be prepared for a waiting period.
In-kind contributions from party committees are reported on Line 11(b), and in-kind contributions from PACs are reported on Line 11(c). When determining whether to itemize an in-kind contribution, treat it the same as a monetary contribution.
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You can skip this step and proceed to step 3. Go to Settings ⚙, then select Chart of accounts (Take me there). Select New. In the Account name field, enter In-kind donations. In the Account type ▼ dropdown, select Income. In the Detail type ▼ dropdown, select Non-Profit Income. Select Save.

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