Term. A voluntary transfer of items of value from a person or organization where no material amount of goods or services is expected, implied or provided to the donor. Gifts normally take the form of cash, checks, securities, real property, or personal property and may be restricted or unrestricted to a general area of use that benefits the organization or one of its components. After the organization has accepted the gift, it becomes their property, and the donor has no direct decision-making power regarding the gift.