What information must be put in a receipt to donors who give cash donations?
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Tagged: receipt of donations
- This topic has 1 reply, 2 voices, and was last updated 6 years, 1 month ago by advisoryboard.
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- 10/25/2018 at 1:51 pm #1204Lori ShecterKeymaster
What information must be put in a receipt to donors who give cash donations?
10/25/2018 at 8:26 pm #1208advisoryboardParticipantIt depends on what type of donation the donor is giving. In accordance with IRS regulations, if someone makes a cash donation and the amount is $250 or more then the organization must provide a written receipt to the donor that states the following:
1. The name of the organization and the date the donation was received
2. The amount of the cash contribution
3. A statement that no goods or services were provided by the organization in return for the contribution.If the donor makes a non-cash donation of goods worth $250 or more than the organization must provide the donor with a written acknowledgement of the donation that contains the following information:
1. The name of the organization and the date the donation was received
2. A statement that no goods or services were provided by the organization in return for the contribution
3. A description of the non-cash goods received (the organization should not provide a value)If the donor makes a cash or non-cash donation and received something in value back from the organization worth more than $75 then the organization must provide the following written information:
1. The name of the organization and the date the donation was received
2. The amount of the cash or a description of the non-cash goods received
3. A description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution. - AuthorPosts
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