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Cash Donation Receipt Template
What Is a Cash Donation Receipt?
A Cash Donation Receipt acts as confirmation that cash was received as a gift which can be particularly crucial to those individuals who are donating the cash as this document can be presented when filing taxes to make sure that the donated sum is subtracted from the overall income of the person making the donation.
The IRS Cash Donation Receipt requirements state that for donations worth more than two hundred and fifty dollars ($250), a receipt should be taken. This document should be issued by the structure that has accepted the monetary donation and needs to specify the name (of the party accepting the monetary donation), the sum donated along with the date of when this took place. There should also be a short clause confirming that nothing was presented in response to the donation.
A Cash Donation Receipt template can be downloaded by clicking the link below.
How Do I Write a Receipt for Cash Donations?
Writing up this document is relatively straightforward, especially if you have an editable template that gives you the option to customize and tailor the document to your specific organization. Ensure that the following information is present in the document:
- Write down the date that the donation was received on;
- State the name of the party that is receiving the cash donation;
- Provide contact details including an address of the party that has accepted the donation;
- Write down the unique number of the company;
- Provide more details about the donation, particularly the sum that was donated;
- Name the individual that made the donation and state their contact details;
- Provide specific details about the company that is receiving the donation. The type of structure of the company should clearly be explained, particularly whether or not the company meets the standards of the IRS. This will affect the probability of whether or not the donated sum will be classed as tax deductible or not;
- The person that has received the sum of money on behalf of the company must sign the document and print their full name as well outlining their position within the company.
It is important to know that the responsibility of requesting, obtaining, and keeping this receipt lies solely with the individual that is making the donation. The individual should not assume that charities should issue a receipt automatically, not all of them are obliged to do so.
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