The system of policies and procedures for valuing, documenting, recording, processing, and reporting in-kind match is similar to the process used for tracking all organizational expenditures.  The first step in establishing a match tracking system is the development of a match budget. This projected budget outlines how much is cash and how much is in-kind. Creating cost centers to report cash match provides a straightforward tracking method.

Grant recipients must maintain records that clearly show the source, the amount, and the period during which the match was allocated. In-kind contributions are determined at their fair market value. The basis for determining the value of personal services, materials, and equipment must be documented and to the extent feasible, supported by the same methods used by the grantee for its own paid employees.  Volunteer services used as in-kind match are allowable and recommended. Volunteer services may be professional or technical services, consultants, or skilled/unskilled labor assisting on the project. Records must be maintained documenting all volunteer services used as in-kind match.

For additional guidance on the value of volunteer time, go to www.independentsector.org/volunteer_time.  Non-compliance with documenting in-kind match amounts may result in a requirement to provide cash match, a reduction to the grant award, and/or other grant conditions.