A gift acceptance policy is a very important aspect of Best Practices. It is even considered so by the IRS who will want to know if such a policy is in place at the organization. The IRS will also want to know about things like non-cash, non-standard, and in-kind gifts. All of this is reported on the Schedule M (form 990). Therefore, it is important to decide, as an organization, what will be worth the time and effort to receive, manage, allocate and subsequently report.
A useful resource that some of the Catholic Radio apostolates are using is a vehicle donation program. This is a relatively simple way to convert potentially unwieldy donations into cash for the apostolate.
For more information about valuation of in kind donations, this article provides several good examples.