Providing a charitable donation receipt is essential for donors to file for charitable contribution deductions in the process of filing income tax returns. Provided here is a sample of such a receipt and what goes into one.
A charitable donation receipt is mandatory if a donor has donated any amount above US $250 (in cash or kind) to a qualified charitable organization, and seeks a deduction from the federal income tax for charitable contributions. This receipt has to be produced when filing income tax returns, without which no deductions will be made. If a monetary donation has been made that is below US $250, a canceled check will suffice as a receipt of charitable donation. Those who have made a donation in kind (clothing items, etc.) should be provided a receipt that states the value of these items. Here, we provide information regarding what exactly goes into a charitable donation receipt along with a sample of such a document.
What is Mentioned in a Charitable Donation Receipt?
The details in such a receipt depend on the kind and the value of the donation made. As such, you may include the following in a donation receipt.
- Name and address of the donor
- Amount of cash donation
- Description of goods provided
- Statement indicating the provision of gifts to the donor in return for the contribution
- Valuation of goods provided (good-faith estimate)
- Date of Donation
- Date of receipt
A receipt should ideally be issued as soon as a donation is made. In all cases, the receipt should be issued before the income tax returns are filed. Any receipts issued thereafter are not considered for tax deductions.
Sample
A charitable donation receipt may be issued on a quarterly, monthly, or yearly basis, though it is ideal for any organization to issue a receipt immediately, irrespective of the value of the donation made. There is no standardized format of a receipt for charitable donation, and even a letter may be acknowledged as a receipt. Given below is a sample of a donation receipt that you may use as is or modify it to suit your requirements. Take a look.
Receipt | ||||||||||||||||||
Name of Charitable Organization
Organization Address • Organization Contact Number • Organization E-Mail Address
Date [of receipt]:
This receipt confirms that no goods or services were provided to the donor in return for the donation. This document is mandatory for any federal income tax deduction for your contribution. Please retain it for your records. [Name of Organization] sincerely thanks you for your generous contribution and support!
In case of any queries, you may contact the organization on any of the aforementioned contact details |
Receipt Letter |
Name of Charitable Organization
Organization Address • Organization Contact Number • Organization E-Mail Address
Date: [Organization Name] would like to thank you for your generous donation of [amount donated] or [products/goods donated] on [date of donation]. The value of the goods donated as estimated by us stands at [total amount]. In accordance with tax laws, this letter confirms that no goods or services were provided to you in return for the donation. This document is mandatory for any federal income tax deduction for your contribution. Please retain it for your records. We look forward to your continual support to our organization and its endeavors. Thank you once again. Sincerely, Signature Name of Concerned Person |
This receipt sample should be able to help you draft a charitable donation receipt effectively for your purpose.