Gift processing and receipting policies and procedures are important for maintaining compliance with the various revenue collection agencies and for good donor relations.
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Sample of process for creating acknowledgement letters. It's a useful exercise to keep these processes well documented in any organization.
A contribution is a conditional gift if it depends on a future act or event that may not take place, or if the contribution would be undone by a later act or event. The donor cannot take a deduction. But if there is only a negligible chance that the act or event will not take place, they can take a deduction.
Sample conditional gift policy.
Diagram of donor benefits decision tree to help in calculating benefits.
Flow of check through all of the gift processing steps.
Note: No goods or services have been offered or received by you in consideration of your gift. The [Organization] calculates the fair market value of stock gifts based on the stock’s mean value on the date received, in accordance with IRS regulations (IRS Pub. 561). The stock was received in our account on 8/5/2010, and the mean value of XXXX on that date was $63.73 (high of $64.20; low of $63.26) for a total of $50,028.05.
For the most part, cash gifts are easy. You deposit them in your account and spend them for whatever purpose the donor intended.
With respect to non-cash gifts, it gets a little more complicated. “Gifts in Kind” and “Gifts of Property” are terms that we may use more or less interchangeably, but which may mean slightly different things to different people.
Fortunately, if you limit the conversation to deductible gifts, the differences mostly sort themselves out. Contributed by Alan S. Hejnal.
Occasionally the Foundation receives gifts that are not accompanied by any instructions for the designation of that gift in the form of a solicitation response card, correspondence from the donor or their agent, or indication on the check itself. In those cases, the following steps will be followed, where practical, to ensure that the donor’s intent is discovered and honored as mandated by the Donor Bill of Rights.