Do you receive contributions of $250 or more?
Have you provided an event ticket, dinner, or other goods or services in return for a donation?
Do you accept non-monetary items (such as cars, property, stock)?
Do your volunteers incur expenses while donating their services to you?
Our hope for our nonprofit clients is that these holiday months bring in many charitable donations to support your missions. Now is also a great time for you to ensure you are aware of and following Internal Revenue Service requirements regarding written acknowledgements to your donors.
For best practices and information on IRS requirements for acknowledging monetary and other types of donations, as well as other important considerations for staying compliant, read the full article.