What is meant by Category 1 and Category 2 in-kind contributions?
• Individual in-kind contributions less than $100,000 • Individual in-kind contributions between $100,000 and $500,000 that represent 10% or less of total eligible product costs CFI describes Category 2 as: • Individual in-kind contributions between $100,000 and $500,000 that represent more than 10% of total eligible project costs • All individual in-kind contributions larger than $500,000 In order to satisfactorily assess and support the valuation of in-kind contributions, Procurement Services requires that both educational discounts and special discounts are clearly identified on supporting documentation provided by vendors through the purchasing and tendering processes. The only way to ensure fair market value of funds expended, is to compare values quoted by competitors and assess these for reasonableness. This is particularly important for Category 2 in-kind contributions.
