Contribution revenue is the lifeblood of most not-for-profits, yet many are unaware of the related regulatory requirements.
Contributions matter: A primer on best practices for NFPs (part 2)
While not-for-profits (NFPs) actively solicit donations, doing so without fully understanding the associated laws and regulations can be detrimental. This multi-part article series covers the following important topics:
Providing donors with gift acknowledgement letters that comply with substantiation requirements for charitable contributions (part 1)
Tax Court cases regarding insufficient written acknowledgements and recommended best practices (part 2)
Complying with laws and regulations for