Charitible Deductions from the RECEIVING organizations point of view?

Question

I am the newly appointed treasurer of a small, 501(c)(3) fitness/health club - our account balance is never over $5K. Where can I read up on what we must do when we receive a donation from one of our members? Typically, it's a $2 or $5 gift. I know that I receive letters from charities when I give money, but now that I am on the receiving side of the donation as treasurer, what do I have to do? Is there an IRS publication that lists the responsibilities from my point of view?

------------------------------------------------------------- Regards -

- Andrew

AES · Accepted Answer

Find a local, much larger nonprofit with similar or encompassing objectives (e.g., local YMCA, local senior center); negotiate a friendly merger/absorption of your activities and group (and donations) into theirs; and let their professionals handle the details?

(hopefully to the mutual benefit of both organizations?)

dpb · Answer

You could start at2670,'m a little surprised the purpose of such an organization by its description would be a 501(c)(3) rather than (4), but assuming you're correct, the reporting requirement for charitable contributions to be documented by the receiving organization for the deduction to be claimed by the donor is only for those cash gifts of $250 or more for individual gifts.  Under that, other than for your internal bookkeeping, there's no reporting requirement.

Andrew · Answer

Thanks to both replies.  I found –102,  that explains it pretty much.(Yes, it's a 501(c)(3) ; we are part of a IRS group exemption and annually get a letter from our 'home' office with the group exemption number listed stating we continue to be covered by the group explicitly citing 501(c)(3) status.) > --

D. Stussy · Answer

Wasn't there a change effective for 2008 that indicates that allcontributions (including those under $250.00) required a receipt to bedeductible?

dpb · Answer

...It wasn't on the links at  when I looked for a pointer the other day, but I didn't look specifically for changes.

Arthur Kamlet · Answer

To deduct the gift less than $250, you can use a receipt from the charity or a copy of your canceled check or a bank card receipt.

The charity is not required to issue a receipt or report the gift but for public relations purposes might wish to do so.

Charitible Deductions from the RECEIVING organizations point of view?

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