2 Outline Understanding Gifts What is, and what is not, a gift, according to the IRS Key characteristics Common activities that are not gifts Identifying the legal donor The name on the check rule of thumb Donor-advised & Donor-directed funds
3 Outline Understanding Gifts When is a gift complete, and why is that important? Being careful about Deductible Deductible for whom? as what? Providing the donor something in return (Quid Pro Quo transactions)
4 Outline Gift receipts Responsibilities related to substantiating a charitable gift The donor s responsibilities The donee s responsibilities Acknowledgment and disclosure requirements Why are there 2 sets of requirements? When is a receipt required? What has to be included on the receipt?
5 Outline Gift receipts Special Cases Non-cash gifts Payroll Deduction Planned Gifts Auctions Unreimbursed Expenses When not to send a receipt
6 Outline Record keeping requirements IRS Forms and Publications
7 The Ever Necessary Disclaimer... What I am NOT: An attorney A tax advisor An accountant Your attorney, tax advisor, or accountant Providing legal, tax, or financial advice
8 The Ever Necessary Disclaimer... What I AM: An Advancement Services professional with more than 15 years of experience Providing general information
9 Understanding Gifts October 2005 CASE Gift Processing Workshop 9
10 Understanding Gifts What is, and is not, a gift (according to the IRS) October 2005 CASE Gift Processing Workshop 10
11 What is a gift, anyway? The IRS uses the term charitable contribution A charitable contribution is a donation or gift to, or for the use of, a qualified organization. It is voluntary and is made without getting, or expecting to get, anything of equal value. IRS Publication 526
12 What is a gift, anyway? to a qualified organization Most, if not all, of your organizations are qualified organizations! IRS Pub. 526 lists examples IRS Pub. 78 lists all the qualified organizations
13 What is a gift, anyway? to a qualified organization Most organizations have to apply to the IRS to become a qualified organization (churches don t) IRS sends a letter affirming tax-exempt status under 501(c)(3) if the Internal Revenue Code Some donors request a copy of the 501(c)(3) letter It s a good idea to locate this letter, have copies on hand
14 What is a gift, anyway? voluntary Not a contractual obligation Not under a court order
15 What is a gift, anyway? without getting, or expecting to get, anything of equal value. Not an exchange transaction Not like a sale in a bookstore, where you get something for its fair market value Donative intent must intend to make a gift
16 What is a gift, anyway? The IRS talks about being able to deduct contributions of money or property Generally, you can deduct your contributions of money or property that you make to, or for the use of, a qualified organization. IRS Publication 526
17 What is a gift, anyway? Donors can also deduct out-of-pocket expenses incurred while doing volunteer work for a qualified organization You may be able to deduct some amounts you pay in giving services to a qualified organization. IRS Publication 526 Certain conditions apply Unreimbursed Directly connected with the services Arise only because of providing the services
18 What is a gift, anyway? That s it Cash Property other than cash Out-of-pocket expenses incurred while doing volunteer work for a qualified organization
19 What isn t a gift? Some common activities are specifically excluded Value of your time or services General volunteer service Services of attorney, portfolio manager, etc. (accounting treatment might be different) Expenses incurred while providing the service might be deductible, but not the value of the service itself
20 What isn t a gift? Some common activities are specifically excluded Partial interest Use of someone s home, auto, rent-free office space, etc. In general, donor must transfer their entire interest in property (26CFR1.170A-7) If an auto dealership gives you a new car, that could be a gift If an auto dealership lets you use a new car for a year, that s not a gift
21 What isn t a gift? Specifically excluded (cont d.) Gifts to, or for the benefit of, an individual For example, tuition payments, or scholarships for donor-specified students The underlying issue is whether the effect of the gift is to benefit the charitable purpose of the qualified organization, or to benefit the individual To preserve deductibility, the organization must control the selection If funds come with a name attached, almost certainly not a gift to the organization
22 What isn t a gift? Specifically excluded (cont d.) Cost of raffle, bingo, or lottery tickets The underlying issue is that the donor has received full value in return, namely the chance to win a valuable prize Any time you enter (only) donors in a drawing, you may well negate the deductibility of all of their gifts! Best practice: allow an easy way for nondonors to also participate in the drawing
23 What isn t a gift? Specifically excluded (cont d.) Gifts to, or for the benefit of, fraternities or sororities Fraternities and sororities may be not-forprofit organizations, but gifts to fraternities and sororities are not deductible as charitable contributions The underlying issue is whether the effect of the gift is to benefit the charitable purpose of the qualified organization, or to benefit the fraternity or sorority
24 What isn t a gift? Specifically excluded (cont d.) Contributions from which the donor benefits You cannot deduct as a charitable contribution the part of a contribution from which you receive or expect to receive a benefit. (IRS Pub. 526)
25 Understanding Gifts Identifying the Legal Donor October 2005 CASE Gift Processing Workshop 25
26 Identifying the Legal Donor Contributor includes individuals, fiduciaries, partnerships, corporations, associations, trusts, and exempt organizations. (IRS Form 990 Instructions) So that s the range of entities, but who is the donor for a specific gift?
27 Identifying the Legal Donor Much more attention in IRS publications to identifying contributions than to identifying contributors Recall that contributions are money, or property other than money The money or property belonged to someone at the time that it was contributed That person, by implication, is the donor!
28 Identifying the Legal Donor In general, the contributor is whoever made the contribution, i.e. whoever transferred their money or other property to you. In those cases where a contribution passes through several entities, the last of the entities through which it passes before being received by the donee should be cited as the donor.
29 So who is the Donor? Whose asset was it immediately before it was transferred to your organization? Not whose hands were on it last, but to whom did it last belong
30 So who is the Donor? A pretty good rule of thumb for checks: whose account was the check drawn on? There are exceptions! trust offices payroll deductions passed on by the employer, acting as the donor s agent Essentially, any person or organization acting as the agent for another person or organization
31 So who is the Donor? Who would you record as the legal donor in the following situation? You send an appeal to John Doe. The check that John sends in return says John Doe, MD Inc. at the top. Who gets the legal credit: John Doe (the person), or John Doe MD Inc. (the corporation)? John Doe, MD Inc. (probably with soft credit to John)
32 So who is the Donor? Who would you record as the legal donor in the following situation? You receive a check from the Fidelity Charitable Gift Fund. An accompanying letter indicates that you should send an acknowledgment to Jane Smith. Who is the legal donor: Jane Smith or the Charitable Gift Fund? Fidelity Charitable Gift Fund More generally, it depends on the details of the fund. Donor Advised Fund vs. Donor Directed Fund
33 So who is the Donor? Donor-Advised Funds (DAF) More commonly encountered than Donor-Directed Funds. Assets irrevocably transferred to the fund
34 So who is the Donor? Donor-Advised Funds (DAF) Donor gets a deduction at the time of the contribution to the fund This is one of the reasons donors use donor-advised funds. Donors get their deduction now, but can decide where to steer contributions over time, once they ve decided, etc.
35 So who is the Donor? Donor-Advised Funds (DAF) Funds subject to rules governing private foundations Gifts/grants/distributions from the fund cannot pay pledges. No one associated with the fund can get any goods or services in consideration of gifts/grants/distributions from the fund.
36 So who is the Donor? Donor-Advised Funds (DAF) Vanguard Charitable Endowment Program, Fidelity Charitable Gift Fund, etc. do only donor-advised funds. If cover letter excludes paying pledges, providing goods & services, almost certainly donoradvised.
37 So who is the Donor? Donor-Directed Funds Donor does not get a deduction at the time of the contribution to the fund. Donor retains control of the assets in the fund.
38 So who is the Donor? Donor-Directed Funds The organization is essentially administering the fund for the donor. Donor directs what contributions are made by the fund; fund managers do not have approval/discretion. Uncommon
39 So who is the Donor? Who would you record as the legal donor in the following situation? Your CEO gave a lecture at XYZ Corp., and asked that XYZ send the check to your organization as a gift. Who gets the legal credit: XYZ Corp or your leader? The boss is always right. It Depends! Is XYZ reporting this as income to your CEO? (typically done by issuing an IRS Form 1099)
40 Understanding Gifts When is a Gift Complete? October 2005 CASE Gift Processing Workshop 40
41 When is it a gift? Ultimately, the donor s responsibility The donor decides when to claim the deduction The donor decides on the amount of the deduction (which may depend on time)
42 When is it a gift? So why is this important to you? So you understand the possible impact on your donors, and provide them the best service possible For example, if you don t process a credit card gift until after January 1 st, the donor may not be able to claim the gift in the intended year Also, the rules are very similar to the rules you have to follow for accounting purposes, and for gift management reporting (CASE/CAE/etc.)
43 When is it a gift? In general, a gift is complete when it has left the donor s control Time of making contribution. Usually, you make a contribution at the time of its unconditional delivery. (IRS Pub. 526) Specific rules for contributions of cash, of securities, by credit card, etc.
44 When is it a gift? Cash, checks, etc. Received by mail (USPS) the postmark date (as long as the check clears in due course) Received by FedEx, etc. when it s in your hands Delivered in person when it s in your hands
45 When is it a gift? Credit card charges Not until the charge is made Not when the donor mails you the form authorizing the charge
46 When is it a gift? Securities (paper certificates and signed stock power sent to your organization) Received by mail the postmark date the later of the two postmarks, if sent separately (which is a good idea!) Received by FedEx, etc., or delivered in person when both items are in your hands
47 When is it a gift? Securities (paper certificates sent to the company for re-registration) The date on the certificate issued in your organization s name Donor does not have precise control of date of gift (which determines the value of the gift!)
48 When is it a gift? Securities (electronic transfer via a broker) The date the shares are actually received in your organization s account Not when the donor gives instructions Not when the shares leave the donor s account Donor does not have precise control of date of gift (which determines the value of the gift!)
49 Understanding Gifts Deductible October 2005 CASE Gift Processing Workshop 49
50 Deductible for whom? as what? There are many kinds of deductions besides charitable deductions e.g. deduction of business expenses Deductibility depends on many things, some of them entirely out of your view e.g. limitations related to other gifts the donor made, to other organizations
51 Deductible for whom? as what? Deductibility is complicated (cont d.) That s why you see statements like is deductible as a charitable contribution for federal income tax purposes to the maximum extent allowed by law The best advice I can give you is: don t give tax advice That s why you see statements like please consult your tax advisor
52 Understanding Gifts Providing the Donor Something in Return (Quid Pro Quo Gifts) October 2005 CASE Gift Processing Workshop 52
53 Quid Pro Quo Gifts Remember a contribution is voluntary and is made without getting, or expecting to get, anything of equal value. What if you get, or expect to get, something of lesser value in return?
54 Quid Pro Quo Gifts You cannot deduct as a charitable contribution the part of a contribution from which you receive or expect to receive a benefit. (IRS Pub. 526)
55 Quid Pro Quo Gifts Quid Pro Quo is Latin for something for something something given in return for something else
56 Quid Pro Quo Gifts Examples A donor makes a contribution of $1,000 and is entitled to receive a framed art print, valued at $125, in return A company is a gold sponsor of a charity golf tournament for $5,000, and is entitled to send 4 of its employees who each get to play a round of golf, eat 2 meals, and get an assortment of golf gifts
57 Quid Pro Quo Gifts receives or expects to receive It doesn t matter if the anyone actually attends the show, eats the dinner, or plays golf. All that matters is that there was an expectation that donor, and/or others of their choosing, would do so.
58 Quid Pro Quo Gifts receives or expects to receive Past practices create expectations! If donors at a certain level received a certain benefit this year, that is usually enough to create an expectation that donors at that level this year will receive the benefit (even if you don t tell them that they will receive the benefit).
59 Quid Pro Quo Gifts receives or expects to receive The test of deductibility is not whether the right to admission or privileges is exercised but whether the right was accepted or rejected by the taxpayer. Revenue Ruling
60 Quid Pro Quo Gifts receives or expects to receive To preserve deductibility, the donor must decline any benefits, and do so no later than when the gift is made.
61 Quid Pro Quo Gifts Special Case Right to Purchase Tickets to College Athletic Events Some colleges give certain people priority to buy scarce tickets, or to get better seats If any gifts are part of the ticket priority formula, the deductibility of those gifts is limited to 80% of the amount that would otherwise be deductible
62 Gift Receipts October 2005 CASE Gift Processing Workshop 62
63 Gift Receipts The Donor s Responsibilities and the Donee s Responsibilities October 2005 CASE Gift Processing Workshop 63
64 Gift Receipts The donor has certain responsibilities Determining whether to claim a charitable deduction Determining the period in which to claim a deduction Determining the amount to claim as a deduction Obtaining written substantiation for gifts of $250 or more
65 Gift Receipts The donee has certain responsibilities Stating the name of the organization Verifying what was received from the donor The amount of a cash gift A description of any property other than cash the taxpayer transferred to the donee organization Disclosing any substantial goods or services were provided to the donor in return for the gift Providing written disclosure when receiving more than $75 partly as a contribution and partly in exchange for goods and services
66 Gift Receipts When you think about it The donor is responsible for things that the donor is in the best position to understand The donee is responsible for things that the donee is in the best position to understand
67 Gift Receipts Acknowledgment (Substantiation) and Disclosure Requirements October 2005 CASE Gift Processing Workshop 67
68 Gift Receipts There are actually two sets of requirements Written Acknowledgment (Substantiation) Written Disclosure Both covered in IRS Pub The good news A thoughtfully implemented gift receipt can readily fulfill both the donor s written acknowledgment requirement and the charitable organization s written disclosure requirement
69 Gift Receipts Why would there be two sets of requirements? The IRS is concerned about two different (although related issues)
70 Gift Receipts Written Substantiation (Acknowledgment) Is this payment to a qualified organization actually a voluntary contribution for which the donor is not getting anything of substantial value in return, or is it a tuition payment, or a purchase at a shop, or rental of the church hall for a wedding reception? The donor is responsible for obtaining written substantiation for contributions of $250 or more.
71 Gift Receipts Written Disclosure Is the charitable organization informing donors when the deductibility of contributions is limited by the value of goods or services provided in return? The charitable organization is responsible for providing written disclosure whenever it receives more than $75 partly as a contribution and partly in exchange for goods and services.
72 Written Acknowledgment The donor s responsibility Required for gifts of $250 or more Donor cannot deduct contributions of $250 or more without contemporaneous written acknowledgment substantiating the gift Typically provided as a receipt for each gift, or as an annual statement
73 Written Acknowledgment Written Acknowledgment must include the name of the organization The amount of a cash contribution, or a description (not value!) of a non-cash contribution A statement that no goods and services were provided by the organization in return for the contribution, or a description and good-faith estimate of the value of the goods and services provided (quid pro quo)
74 Written Acknowledgment Token exception insubstantial goods or services need not be included Specific thresholds are adjusted for inflation every year
75 Written Acknowledgment First token exception Low cost articles with the organization s name or logo, which cost the organization no more than $8.30, do not have to be included, as long as the payment is at least $ If the items are donated, the determination is based on what the organization would have had to pay for them had they not been donated. (You can t just say Well, they didn t cost us anything! )
76 Written Acknowledgment Second token exception Goods and services do not have to be included when the value of all benefits is no more than 2% of the amount given and no more than $83
77 Written Acknowledgment Membership benefits exception certain insubstantial recurring privileges do not have to be included either Benefits are received in return for an annual payment of $75 or less Benefits consist of recurring privileges such as discounted admission, free or discounted parking, discounted purchases at the organization s gift shop or book store, etc.
78 Written Disclosure The charitable organization s responsibility Required when more than $75 is received partly as a contribution and partly in exchange for goods and services Disclosure may be part of solicitation materials, or included on receipt
79 Written Disclosure Written Disclosure must Inform the donor that the amount of the contribution that is deductible for federal income tax purposes is the limited to the amount of the contribution that is in excess of the value of the goods and services provided by the organization Provide a good-faith estimate of the fair market value of those goods and services
80 Gift Receipts Check to make sure that you. Receipt contributions of $250 or more (or $75 or more if you provide goods or services in return) Include the name of your organization Include the amount of a cash contribution, or a description (not value!) of a non-cash contribution
81 Gift Receipts Check to make sure that you. Include a statement that no goods and services were provided by the organization in return for the contribution, or a description and goodfaith estimate of the value of the goods and services provided
82 Gift Receipts Check to make sure that you. Include a statement that the amount of the contribution that is deductible for federal income tax purposes is the limited to the amount of the contribution that is in excess of the value of the goods and services provided by the organization
83 Gift Receipts Dating Receipts No IRS requirement that the receipt include a date Determining the date of gift, and when to claim a deduction, is ultimately the donor s responsibility
84 Gift Receipts Dating Receipts If you include a date of gift and the donor relies on that and the IRS disagrees, the donor could come back to you If you include a date, best to use your processing date rather than attempt to show legal gift date
85 Gift Receipts Dating Receipts One Further Thought IRS auditors understand how this works If a donor claims a gift in one year, and has a receipt with your processing date in early/mid-january of the following year, the IRS knows that processing, etc., takes a little time
86 Gift Receipts Special Cases October 2005 CASE Gift Processing Workshop 86
87 Gift Receipts Gifts in Kind Includes a description (but not value) of a non-cash contribution Some organizations elect to include value of a gift of publicly-traded securities If a donor insists that the receipt include a value, resist. Refer the donor to IRS Publication As a last resort, include language like which you have valued at $x.xx
88 Gift Receipts Gifts in Kind Includes a description (but not value) of a non-cash contribution In fact, you may want to extend the last resort language: "... which you have valued at $x.xx. Please seek guidance from your tax preparer before assigning ANY value to your in-kind donations. This document does not serve as verification of the actual deductible amount."
89 Gift Receipts Payroll Deduction Donor can support deduction with 2 items: Pay stub identifying and showing amount of deduction, and A statement that no goods and services were provided by the organization in return for the contribution, or a description and good-faith estimate of the value of the goods and services provided Can be part of solicitation materials, authorization form, or pledge confirmation letter
90 Gift Receipts Planned Gifts Really a special sort of quid pro quo Donor donates something of value, and Gets something of value in return Annual payments (annuity, annuity trust, etc.) Right to live in the house during their lifetime (retained life interest) Etc.
91 Gift Receipts Planned Gifts Typically very complicated Planned Giving Officer is your best resource Typically, the Planned Giving Officer will provide the donor with documentation that also serves as the receipt Specialized software, etc., for this purpose
92 Gift Receipts Auctions Two different transactions Donations of things to auction Auction purchases that include a gift component
93 Gift Receipts Auctions Donations of things to auction Subject to the same rules as other donations Donations of services, partial interest, etc. are not deductible Bicycle tune-up by the board chair Use of a donor s cabin by the lake
94 Gift Receipts Auctions Auction purchases Subject to quid pro quo rules Only the portion, if any, over the fair market value (FMV) of the item, is a contribution Have to establish a fair market value for each item
95 Gift Receipts Auctions Auction purchases (cont d.) Charitable intent Donor has to intend to give more than the item is worth Important to show bidders the FMV Otherwise, standard quid pro quo receipt Includes value and description of items the winning bidder received
96 When Not to Send a Receipt Naming someone other than the donor For example, naming an individual for a gift from their business, or from a donor-advised fund they established For something that s not a gift For example, for contributed services, or purchase of raffle tickets You probably want to express appreciation (preferably not in a format that looks like a receipt!)
97 Unreimbursed Expenses Remember that contributed services are not deductible Out-of-pocket expenses while providing volunteer service are deductible under certain circumstances Organization acknowledges the services, but does not verify the expenses
98 Unreimbursed Expenses Written acknowledgment The donor s responsibility Required for gifts of $250 or more Donor cannot deduct a single contribution of $250 or more in unreimbursed expenses without contemporaneous written acknowledgment substantiating the gift
99 Unreimbursed Expenses Written acknowledgment must include the name of the organization a description of the services provided by the volunteer a statement that no goods and services were provided by the organization in return for the service, or a description and good-faith estimate of the value of the goods and services provided
100 Unreimbursed Expenses Recap Written Acknowledgment for Unreimbursed Expenses you describe the voluntary services you identify what, if any, the organization provided the volunteer in return you do not identify, or substantiate, anything about the expenses; that s the donor s responsibility
101 Record Keeping October 2005 CASE Gift Processing Workshop 101
102 Record-Keeping Recordkeeping. The organization s records should be kept for as long as they may be needed for the administration of any provision of the Internal Revenue Code. Usually, records that support an item of income, deduction, or credit must be kept for 3 years from the date the return is due or filed, whichever is later. (IRS Form 990 Instructions)
103 Record-Keeping Section 501(c) organizations that receive tax-deductible contributions must keep sample copies of their fundraising materials, such as: Dues statements Fundraising solicitations, Tickets, Receipts, Or other evidence of payments received in connection with fundraising activities (IRS Form 990 Instructions)
104 Record-Keeping For each fundraising event, organizations must keep records to show the portion of payment received from patrons that is not deductible; that is, the retail value of the goods or services received by the patrons. (IRS Form 990 Instructions)
105 Resources October 2005 CASE Gift Processing Workshop 105
106 IRS Forms and Publications
107 IRS Forms and Publications Publication 526, Charitable Contributions Publication 1771, Charitable Contributions Substantiation and Disclosure Requirements Publication 561, Determining the Value of Donated Property
108 IRS Forms and Publications Publication 557, Tax-Exempt Status for Your Organization Publication 78, Cumulative List of Organization Publication 17, Your Federal Income Tax
109 IRS Forms and Publications Form 8283, Noncash Charitable Contributions Instructions for Form 8283 Form 8282, Donee Information Return (Sale, Exchange, or Other Disposition of Donated Property)
110 IRS Forms and Publications Form 990 & Form 990-EZ, Return of Organization Exempt From Income Tax Instructions for Form 990 and Form 990-EZ
111 Other Resources The Safe Harbor Rules (value of insubstantial goods and services that can be ignored for Quid Pro Quo gifts) change annually. They are published in the last Internal Revenue Bulletin of each year. Join the Fund Services Listserv!!!
112 Questions (& Answers?)
113 Contact Information Alan S. Hejnal Director, Advancement Services Gettysburg College 300 N. Washington St., Campus Box 423 Gettysburg, Pennsylvania Voice: October 2005 CASE Gift Processing Workshop 113
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Frequently asked Questions By NONPROFITS About Taxes (2014 Revised Edition) ANSWERS* TO QUESTIONS FREQUENTLY ASKED ABOUT - COMPENSATION & BENEFITS We heard that our pastor is both an employee and an independent
Charitable Gifting: Overview and Tax Implications Overview The desire to assist a charitable organization must be a primary motive for making a gift; if a charitable inclination does not exist, charitable
A Donor s Guide to Before you give your car to a charitable organization: check out the charity see if you ll get a tax benefit check the value of your car see what your responsibilities are as a donor
Private foundations Establishing a vehicle for your charitable vision I didn t know where to start. The advice I received on creating a private foundation pointed me in the right direction, and now I m
A Legal Checklist for Not-for-Profit Organizations This 10-point checklist is written to help busy charitable organizations stay on top of today s regulatory compliance requirements. For further information,
Form 990 Questionnaire For All Organizations Core Form Heading & Pt I Summary 1. The organization mission or most significant activities that you wish to highlight this year: 2. Total number of volunteers
Philanthropy as a Family Affair: Using a Private Foundation to Achieve Your Charitable Goals ~ Susan B. Hecker Establishing a private foundation can be a fulfilling way to work with charities, but be prepared
Charitable contribution rules and requirements October 30, 2013 In brief Contributing to charity is an integral component of the American culture. One reason for charitable giving is the income tax benefit
Fidelity Charitable Gift Fund SM Fact Sheet OVERVIEW The Fidelity Charitable Gift Fund ( Gift Fund ) is the nation s #1 grantmaker among donor-advised fund programs 1 and is the sixth largest public charity
GIFT ACCEPTANCE AND SPENDING POLICY For College of Southern Maryland Foundation TABLE OF CONTENTS PAGE INTRODUCTION 1 HONORS AND COMMEMORATIVE RECOGNITION 1 MEMORANDUM OF UNDERSTANDING 1 FINDERS FEES AND
A better way to give. What is Schwab Charitable? A Schwab Charitable donor-advised fund account is a simple, tax-smart investment solution for charitable giving. You can open a Schwab Charitable account
The mission of is to share the love and grace of Jesus Christ with all people and to invite them to fullness of faith in God. 1. Purpose of the Policy a. To create and sustain positive donor relationships
Development Policies and Procedures Purpose: The purpose of this policy is to: Establish procedures for all fundraising on behalf of Habitat for Humanity of Greater Baton Rouge(HFHGBR) Establish guidelines
Internal Revenue Service Tax Exempt and Government Entities Exempt Organizations Compliance Guide for 501(c)(3) Public Charities Covers: Activities that may jeopardize a charity's exempt status Federal
AAMD TAX PRIMER Updated February 2014 AAMD Tax Primer AAMD is not qualified to give legal or accounting advice. While we believe the information below to be correct regarding federal tax law to the best
Event Guidelines 1. Review the event guidelines: We appreciate your desire to support Piedmont Healthcare and want your event to be a success! Based on best practice ideas, we have prepared event guidelines
Finance Page 1 Procedure Title Charitable Donations and Receipts Date of Issue February 4, 2004 Related Policy Revision Dates June 12, 2013 Related Forms Review Date June 1, 2018 Originator Administrative
IRA Charitable Rollover (Revised October 3, 2008) The Pension Protection Act of 2006 (PPA) permitted individuals to roll over up to $100,000 from an individual retirement account (IRA) directly to a qualifying
Fundraising in a nutshell for nonprofit CEOs & development staff: Leveraging charitable giving in the current environment Meg Greene, Esq. Kenleigh Nicoletta, Esq. Amelia Kurtz, Senior Fiduciary Officer
Exhibit 1 SPONSORSHIP MANUAL Updated 2/19/14 Springboard Fiscal Sponsorship Program Manual ABOUT THE PROGRAM... 2 ELIGIBILITY... 2 CREATIVE CONTROL AND INTELLECTUAL PROPERTY... 2 APPLICATION PROCESS...
POLICY: Gifts to the Foundation must align with the Mission, Vision, Values and priorities of the Foundation and the Hospital. The Foundation reserves the right to decline a gift that does not meet these
Terms and Conditions for Component Funds of The Community Foundation for the National Capital Region The Community Foundation has developed the following Terms and Conditions pertaining to the administration
Sales Tax and the Not-for-Profit Organization KLR Not-for-Profit Services Group March 2013 www.kahnlitwin.com Boston Cambridge Newport Providence Waltham 888-KLR-8557 TrustedAdvisors@KahnLitwin.com Sales
Contact: Office of Sponsored Research and Development Office Issued: New Pages: 6 GIFTS, GRANTS, CONTRACTS, and SPONSORSHIPS DETERMINATIONS I. SCOPE The classification of all gifts, grants, research contracts,
Office of the Attorney General Charitable Giving LAWRENCE WASDEN Attorney General 700 West Jefferson Street Boise, ID 83720-0010 www.ag.idaho.gov State of Idaho Office of Attorney General Lawrence Wasden
Dear Friend, Thank you for your interest in supporting Baltimore Washington Medical Center. The generous support of groups and organizations throughout our community and region help BWMC continue to provide
Standard Operating Procedures for Acceptance of Gifts Authority: Vice Chancellor for University Advancement History: First Issued, March 27, 2008. Revised, September 1, 2010 Related Policies: POL03.00.3,
501(c)(3) Nonprofit Status What is it, Do We Need It, and How Do We Get It? Carol Perrotto and Bill Enslen, Team 365 Disclaimer The presenters are not attorneys or IRS representatives, so the general information
Date May 1, 2011 Marsh & McLennan Companies Marsh & McLennan Companies values education as one of its most important investments. The to Education Program is designed to encourage the personal giving of
The Renaissance Charitable Gift Fund Donor-Advised Fund Program 866.803.0389 1 TABLE OF CONTENTS Renaissance Charitable Gift Fund...Page 3 Donor-Advised Funds...Page 3 Definitions...Page 4 Donors and Contributions...Page
CHARITABLE FOUNDATIONS: ANOTHER OPTION TO HELP FINANCE SCHOOL ACTIVITIES Fall 1999 Written for WASB's Legal Services Membership by Lathrop & Clark LLP School districts continue to be faced with the challenge
www.revenue.state.mn.us Nonprofit Organizations and Fundraising 180 Sales Tax Fact Sheet What s New in 2015 The annual fundraising exemption for youth and senior citizen groups increased to $20,000, starting
Q. Do you own control stock? That depends on who you are. Q. Are you aware of your company's trading policies? Q. How can you sell, borrow against and otherwise monetize your shares? Q. How can you use
THE IRS AND APPRAISALS OF GIFTS AND DONATIONS Appraisers are encouraged to keep current on IRS rulings and requirements. All IRS forms and related materials are posted on the IRS web site (http://www.irs.gov).
Charitable Giving 2012 Page 1 of 7, see disclaimer on final page By leaving money to charity when you die, the full amount of your charitable gift may be deducted from the value of your taxable estate.
How to Avoid Ten IRS Land Mines for Nonprofit Charities The drive to increase revenue leads many nonprofit organizations to start up business activities. Easy profits are expected, but tax traps waiting
GIFT REPORTING STANDARDS UA PPS No. 01.03 Issue No. 1 Effective Date: 1/1/2008 Review: 1/1/E3Y 01. PRINCIPLES OF GIFT REPORTING 01.01. Types of Gifts Gifts to Texas State University-San Marcos (Texas State)
charitable contributions Your ability to control when and how you make charitable contributions can lower your income tax bill, effectively reducing the actual cost of any gift you make, while fulfilling
The U.S. Charitable Gift Trust A Tax-Advantaged Charitable Giving Program Sponsored by Eaton Vance. The U.S. Charitable Gift Trust c/o Renaissance Administration LLC, 8910 Purdue Road, Suite 500, Indianapolis,
Recording and Increasing Church Donations CMO December 2012 http://iconcmo.com Contents 1 Preface.......................................................... 1 2 Contributions and the Future of Your Church........................