Gifts-in-Kind

It sounds like your question is two-fold: how to handle the accounting end (reporting the gifts) and what to do with leftovers.

We report in-kind gifts in the year in which they were given. We pull a list for our auditors, and nothing has ever been required beyond that point. If you have a large gift, such as an automobile, then I suppose you would want to involve an accountant with regards to depreciation - but, as it has not been purchased by your org, depreciating it out may not provide much benefit.

As to what to do with leftovers, if we think we can use it the following year, we save it, tucked away in a storeroom. If we don't really have a use for it, we donate it to some worthy community charity.

Hope that helps!