the silver guide to non-monetary transactions

5.2. Donations of goods

When a donation of goods is received by an organization, a charitable donation receipt may be issued in the amount deemed as fair market value (FMV) for those goods. The donor must be able to determine the FMV of the non-cash donation. When the FMV is less than $1,000, the assessment can be made by a member of the charity or someone with sufficient knowledge of the goods in question. If greater than $1,000, the FMV should be assessed by a qualified independent third party. It is important to keep on file any documentation used to determine the FMV of the donated goods.