Gifts in kind in the context of "Tribute"

⭐ In the context of Tribute, Gifts in kind is considered…

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⭐ Core Definition: Gifts in kind

Gifts in kind, also referred to as in-kind donations, is a kind of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given. Gifts in kind are distinguished from gifts of cash or not measured in monetary terms. Some types of gifts in kind are appropriate, but others are not. Examples of in-kind gifts include goods like food, clothing, medicines, furniture, office equipment, and building materials. Performance of services, providing office space or offering administrative support, may also be counted as in-kind gifts.

While many attest to the benefits of in-kind over cash gifts, others have argued for their disadvantages, particularly in the context of disaster relief.

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👉 Gifts in kind in the context of Tribute

A tribute (/ˈtrɪbjuːt/; from Latin tributum, "contribution") is wealth, often in kind, that a party gives to another as a sign of submission, allegiance or respect. Various ancient states exacted tribute from the rulers of lands which the state conquered. In the case of alliances, lesser parties may pay tribute to more powerful parties as a sign of allegiance. Tributes are different from taxes, as they are not collected in the same regularly routine manner that taxes are. Further, with tributes, a recognition of political submission by the payer to the payee is uniquely required.

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Gifts in kind in the context of Donation

A donation is a gift for charity, humanitarian aid, or to benefit a cause. A donation may take various forms, including money, alms, services, or goods such as clothing, toys, food, or vehicles. A donation may satisfy medical needs such as blood or organs for transplant.

Charitable donations of goods or services are also called gifts in kind.

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