On 15-12-24 17:40, Rob Jenson wrote:
My understanding is that the qualified recipient of a non-cash charitable
donation *must not* make any statement or offer advice to the donor on the
Fair Market Value (FMV) of the donation. I've worked for non-profits, and
this was a very serious concern ... not even with a wink and a nod and a
vague "well, I think it might be worth ... bla bla bla." It can mess up
the donor if they are audited, but it can also cause the donee to lose
their "qualified" status.
Here is the IRS guideline
<https://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Charitable-Contributions-Written-Acknowledgments>
on written acknowledgements for charitable organizations. For non-cash
donations, since the donee is not offering advice on the FMV (which would
include assessing whether the donation is worth more or less than $250),
they should offer a written acknowledgment for all non-cash donations.
Some
organizations that receive many donations of various "stuff" (clothes,
furniture, etc.) have a standard form that they provide the donor with a
blank for the donor to fill in and value the items donated. Other
organizations generate a specific letter for each donation. It's up to
your
organization how much administrative overhead you can expend to
acknowledge
donations. Of course, if you provide a standard "fill in the blanks" form
and a donor requests an itemized letter you would have to provide it.
The other thing to be aware of ... more for the donor than the donee, but
I
don't think it hurts anyone to say so: If the claimed FMV for a non-cash
donation is going to exceed $5,000 an appraisal will be required. The
donee
can help facilitate this (i.e., make the items available to an appraiser
chosen by the donor) but must not be involved in the appraisal process or
even recommend a specific appraiser. We (former employer = historical
society) could provide a list of multiple qualified appraisers for the
type
of materials donated, but we could not recommend a specific one.
_rob_
On 15-12-24 15:34, john boris wrote:
Where I coach football we are upgrading our weight room with a Smart TV
and
also an online program that the players can upload their lifting stats
and
we can publish them on the TV. So the alum that is spearheading the
project
asked me about getting some used tables for us to keep in the Weight room
for the players to use to log into the site and enter their data.
It is a great opportunity for our alums to give back to the program and a
great time as people will be getting their new toys. So I was wondering
if
anyone on the list has handled electronic donations for their
organization
and had a way for the person making the donation get a tax write off I
would appreciate some pointers.
--
John J. Boris, Sr.
Head Freshmen Football Coach
Camden Catholic High School
--
Rob Jenson - *nix Systems Administrator [In search of a new gig]
Email: ferthalangur {at) gmail.com or rbj (at} spotch.com
http://www.spotch.com
