Q:

What are the components of a standard donation receipt form?

A:

Quick Answer

Standard donation receipt forms include the donor's name, the receiving organization, whether or not the donor received anything in return, and the donation's date, type and value. The acknowledgement also includes the organization's 501(c)3 status and federal identification number, and is signed by a legal representative of the organization.

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Full Answer

Type of donation is either cash, noting the amount, or goods and services, including a description. The donor assigns a reasonable estimated value to any donation of goods or services, not the recipient organization.

Receipts sometimes include information regarding IRS regulations stating that the value of any goods or services received by the donor is deducted from the tax-deductible value of the donation. For example, if a donor contributes $100 to attend a fundraising banquet and the value of the meal is $45, the tax-deductible amount of the donation is $55. Noting that nothing is received in exchange for the donation, when this is the case, is also appropriate.

A reminder that the donor retain the receipt for tax purposes adds legitimacy and is helpful to the donor.

Language that a donation "may be tax-deductible" is also appropriate.

IRS regulations require receipts acknowledging donations of $250 or more in order for the contribution to be tax-deductible.

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