This form is a sample letter in Word format covering the subject matter of the title of the form.
Donation Receipt For Specific Purpose In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-0018LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Ing to the IRS, donation tax receipts should include the following information: The name of the organization. A statement confirming that the organization is a registered 501(c)(3) organization, along with its federal tax identification number. The date the donation was made.
If donation is received without a specific purpose, it is a revenue receipt. But if donation is received for a specific purpose, this is considered as capital receipts and all expenses incurred towards the specific purpose should be set off from this receipt.
You can qualify for taking the charitable donation deduction without a receipt; however, you should provide a bank record (like a bank statement, credit card statement, or canceled check) or a payroll deduction record to claim the tax deduction.
Each letter should include the following information: The donor's name. The full legal name of your organization. A declaration of your organization's tax-exempt status. Your organization's employer identification number. The date the gift was received. A description of the gift and the amount received.
Example 2: Individual Acknowledgment Letter Hi donor name, We're super grateful for your contribution of $250 to nonprofit's name on date received. As a thank you, we sent you a T-shirt with an estimated fair market value of $25 in exchange for your contribution.
If donation is received without a specific purpose, it is a revenue receipt. But if donation is received for a specific purpose, this is considered as capital receipts and all expenses incurred towards the specific purpose should be set off from this receipt.
General Donation is the donation in which the donor does not specify any condition for its use. The amount of general donation is an income and we credit it to Income and Expenditure Account. Specific Donation: In case the donor specifies the purpose for which the donation should be used, it is a Specific Donation.
Let's say you received $10,000 worth of legal services, here's how you could record that donation: Record the $10,000 donation to a revenue account (example: “In-Kind Gift Revenue: Service”) Then, record the expense side of the transaction in its appropriate functional expense account (example: “Professional Services”)
Donation receipts, or donation tax receipts, provide official documentation of a gift made by a donor. Often written in the form of an acknowledgment letter, they let the donor know that their donation has been received and allow the nonprofit to express its gratitude.
