Do we need to offer a written letter or some sort of receipt for donations to our organization?If we are hosting a parent event and door prizes have been donated, how is that handled?Do we need for the donor to give us a receipt or some sort of written statement stating the value of an item that has been donated?Is there a particular format or template for receipts given to donors?Thanks so much!Darlene
Darlene,
Yes, you should give a receipt for donations. The IRS Publication 4221-PC p. 26 explains it all. Be sure to include a note about “No goods or services were given in exchange for this donation.”The value of donated goods is determined by the donor, not your organization as the charity. You can give a thank you letter to the donor and fill in a description of the item donated, but not its value.
Sort of like Goodwill does when you drop off stuff. They have a stack of cards at the drop off counter. Goodwill fills in the date, but the value of the donation is filled in by the donor.
No, there are no official donation receipt forms.
Just follow the example of Goodwill or your church.
Carol Topp, CPA
