If you haven’t done so already, time is almost up for you to send your members and donors their yearly giving statements. Here’s what your organization needs to know and what you need to communicate to all those who have given to you.
You Are Required to Send a Giving Statement
Per I.R.S. Publication 1771, “Charitable Contributions: Substantiation and Disclosure Requirements,” you are required to send charitable contribution statements by January 31.
Donors must have a bank record or written communication from a charity for any monetary contribution before the donors can claim a charitable contribution on their federal income tax returns.
Donors are responsible for obtaining a written acknowledgment from a charity for any single contribution of $250 or more before the donors can claim a charitable contribution on their federal income tax returns.
Charitable organizations are required to provide a written disclosure to a donor who receives goods or services in exchange for a single payment in excess of $75.
Individual Donor Histories Are No Substitute
Your members and donors can have their individual histories emailed to them at any time from within their Givelify profile. You can feel free to point them to our online support article “How do I get a report of all the donations I’ve made?” for complete instructions.
Keep in mind that these histories are not official charitable contribution statements and are for their record-keeping and reference only. In addition, these reports only reflect donations made through Givelify and do not include any cash, check, or other donation methods. You are still required to send them a yearly giving statement.
How To Run Givelify Donor Reports
For the purpose of preparing yearly giving statements, you will need to run a Donor Report from your Givelify dashboard. You can find instructions and screenshots in our online support article “How do I get a report of the donations made to my organization?”
Need More Help? Sign Up for a Free Webinar
If you’re struggling with generating reports or need help reconciling these statements with your financial or church management software, join us for one of our live instructional webinars. In these sessions we’ll walk you through the process of generating reports and preparing them correctly for giving statements.
This 15-minute webinar is for people who are new to Givelify and need to learn how to run reports, or those who just need a refresher. It is offered the following dates and times:
- Tuesday, January 23, 2018, at 2:00 PM ET
- Wednesday, January 24, 2018, at 12:00 PM ET
- Thursday, January 25, 2018, at 2:00 PM ET