Not-for-Profit Organizations: Tax Receipts for Donations ON DEMAND

Overview

Nonprofit organizations must provide their donors with tax receipt letters (written acknowledgment) to comply with IRS rules and help donors get their tax deductions. Preparing tax letters is a deceptively simple task with many tricky points. In this course, we’ll discuss the elements that should go into each type of tax letter, the mechanics of quid pro quo contributions, how to determine donor benefits, and how donor-advised funds fit in.

Highlights

Tax compliance. Donor relations.

Prerequisites

None.

Designed For

Nonprofit staff and tax professionals.

Objectives

Identify the elements of a donation tax receipt (written acknowledgement). Determine the value of donor benefit. Recognize pure donations vs. quid pro quo contributions.

Preparation

None.

Notice

None.