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Archive for July, 2013

Inadequate Receipts for Contributions

Current tax laws require donors to maintain documentation to substantiate their charitable contribution deductions. If audited, donors will be asked to provide the IRS with qualifying receipts or risk having their deduction(s) disallowed. A recent ruling by the U.S. Tax Court, (Durden v. Commissioner of Internal Revenue) illustrates the dangers to donors and charities alike […]

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Gift Acceptance Policies

Today’s tough economic times often mean nonprofit organizations need to be fairly assertive with their fundraising efforts. However, sometimes the gift is not worth the work and potential cost. There are many stories of nonprofit organizations accepting noncash donations that ended up costing them dearly, such as accepting land that was later found to be […]

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