Donation Receipt Template

Monday, November 21st 2022. | Sample

Donation Receipt Template – A 501(c)(3) donation receipt must be completed by the charity when it receives donations of $250 or more. It is used by an individual who has donated cash or payment, personal property or a vehicle and wants to claim the donation as a tax deduction.

A certificate of all donations during the year is often issued, showing the total annual contribution from a single donor, the cost of which can be deducted from their gross income.

Donation Receipt Template

Donation Receipt Template

A 501 (c)(3) is a type of organization or corporation classified as a charity that can accept charitable contributions. Contributions made to a 501(c)(3) are tax-deductible as long as they are made before the end of the tax year. A promise or promise to pay does not count.

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All 501(c)(3) organizations must be approved by the IRS through a rigorous approval process. If the organization is certified as a 501(c)(3), like most well-known charities, you can make a donation safe in the knowledge that it may be tax-deductible.

Donation Receipt Template

No payment for goods or services is taxable to the donor, even if the payment is made to a 501(c)(3) organization.

For example, if a person goes to a charity dinner, the cost of the dinner cannot be used as a tax deduction. However, if a separate monetary donation is made during the dinner, this amount may be deducted.

Donation Receipt Template

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Each individual donation up to $250 does not require confirmation. Under this rule, a person can make ten (10) trips to donate clothing and claim it as a tax deduction without a document or receipt. When any donation reaches $250 or more, confirmation is required. (26 USC § 175(f)(8)(A))

If the value of the gift exceeds $500, it must be fully described. (26 USC § 175(f)(11)(B))

Donation Receipt Template

If the value of the gift exceeds $5,000, the property must be appraised by a “qualified appraiser.” This is not defined, although the donor is encouraged to use best judgment. (26 USC § 175(f)(8)(C))

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An individual can deduct up to 50% of their adjusted gross income (line 36 of IRS Form 1040, Schedule 1). (26 USC § 170(b)(1)(B))

Donation Receipt Template

Before any donor can support a nonprofit organization, the institution receiving funds must be classified by the IRS as a 501(c)(3). Otherwise, the donor may not be required to deduct the amount from the tax return at the end of the year.

Go to the IRS website and click on the dark blue button that says “Find a Tax Exempt Organization” (EOS App).

Donation Receipt Template

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Search by organization name or employer identification number. If the organization is national and has a local association, use the location filters to specify a state or city.

Just because an organization appears in search results does not mean it is a verified 501(c)(3). You need to click on the name of the organization and its status with the IRS will be displayed.

Donation Receipt Template

Sample – 501(c)(3) Donation Acknowledgment DONATION CONFIRMATION Date: March 14, 2019 Nonprofit Name: Goodwill Industries of Northern New England EIN: 01-0284340 DONATION INFORMATION Donor Name: John Roberts Donor Mailing Address: 123 Monroe Way, Apple Valley , CA 92307 Donation Amount: $760.00 Donation Description: 3 winter coats, 42 inch plasma TV (working), 3 chairs and 1 large couch. I, the undersigned, declare (or certify, confirm or represent) under penalty of perjury under the laws of the United States of America that no goods or services were provided as part of this donation. In addition, the above organization is a current and valid 501(c)(3) nonprofit organization under the standards and regulations of the Internal Revenue Service (IRS) as of the date of this confirmation. Thank you so much for your generosity. We appreciate your support! How to write

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(1) Date. It is important that the books clearly show the exact calendar date that determines when the donation was received by the 501(c)(3) organization. In fact, this should be the first information listed on this receipt. Please indicate the date this receipt will be completed, if applicable, at the beginning of this receipt.

Donation Receipt Template

(2) Non-profit organization. A nonprofit organization with 501(c)(3) status must be listed. In the header of the receipt, its full legal name must be indicated. It must be an approved nonprofit name registered with government agencies such as the IRS, the state where it was incorporated, and the federal government.

(3) Mailing address. The 501(c)(3) organization name provided above must be accompanied by its official mailing address. Provide the permanent mailing address of the nonprofit that received the matching donation.

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(4) EIN. This receipt requires an organization identification number that has been assigned to the nonprofit (from the I.R.S.). This header information must be accurate as the reviewers will use this information to identify the recipient of the tax-free gift made.

(5) Donor’s name. In addition to identifying the recipient of the tax-free donation, it is necessary to indicate the donor of this amount by specifying his (legal) name at the beginning of the Donor Information section.

Donation Receipt Template

(6) Address of the donor. The address of the donor is also mandatory for these documents. His residential address (or, if a legal entity, his business address) should be documented as proof of his identity and as a potential requirement for tax forms or inquiries if this donation is investigated.

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(7) Amount donated. The amount that was donated to the non-profit organization or the value of the donation at the time of its receipt by the non-profit organization must be documented. Visualize this dollar value in writing, then report it (numerically) in the space attached to the dollar sign.

Donation Receipt Template

(8) Description of the gift. This confirmation discusses the type of gift provided. Popular methods for donors are to send donations by cash, personal check, wire transfer, or online. Any method used to send the donation amount must be described. Similarly, if the dollar amount above is for a product donation (ie, the current book value of the car), the product must be described. For example, in our example of a car that was donated to a nonprofit organization, the make, make, model, VIN (vehicle identification number), odometer reading, color, and year of the donated vehicle should be used as the description. how the donated amount was received.

(9) Signature of representative. A representative of a 501(c)(3) nonprofit organization who can certify that a donor submission has been received must certify that the information in this certification is true by affixing his signature on behalf of the applicable nonprofit organization.

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(10) Name of representative. After the Representative confirms with his signature the above income information, he must print his name.

(11) Title. Since the Representative is acting on behalf of the Organization, the title held by the 501(c)(3) nonprofit must be documented.

Donation Receipt Template

(12) Date. Finally, the calendar date when the representative of the non-profit organization signed this document is noted. This date must coincide with the date of signature of the representative and therefore must not precede the date of this acceptance.

In Kind Donations

By using the website, you agree to the use of cookies to analyze website traffic and improve your experience on our website. An in-kind gift certificate is used to donate any type of property or goods of little value, such as clothing, furniture, appliances, or related items. For example, a company may decide to donate computers to a school and claim that the donation is a tax deduction. To receive a tax deduction, the donor must receive a receipt for their gift. In addition, the donor is obliged to indicate the value of the donated items. If the value of the donated items exceeds $5,000, an appraisal from the IRS may be required. A donation of services cannot be claimed as a tax-free gift in kind.

Donation Receipt Template

A PDF, Word or ODT version of the Donation Receipt form can be found on the image on this page by clicking the appropriate button in the header area or the link above.

The header of this receipt will need some information about the recipient and the donor. Be sure to enter this information accurately, especially since one or both parties may need to file these tax documents.

Donation Receipt Template

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Enter the full name of the organization receiving the donation in the empty line labeled “Charity Name” in the upper right corner of the page. If it’s an organization such as a charity, be sure to include any identifying suffix that is considered part of its official name.

The recipient’s full address must also be documented. Two blank lines (“Street” and “City, State, Zip”) are provided so that you can provide this information efficiently. Start by filling in the house number, street name, and apartment number at the donor’s address

Donation Receipt Template

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