Contribution Statements

Question regarding annual contribution statements:


I am the Financial secretary at our church. When I took over the position I was told that if a person gives over $250.00 that they should be given a statement within a week's time, that it was the law.

We live in Maine, but I can't find where that is a law. Many say they don't want them every week, it's too much paper work but our Board is trying to comply with the laws.

We lived in California for many years and only received one statement at the end of the year. What is the standard for this. We do send out year end statements as well. The less waste at this time the better.

Thank you for getting back to me.
Tammy

Answer

In the book: Zondervan 2009 Church and Nonprofit Tax and Financial Guide, Dan Busby, CPA, states, "If a donor makes multiple contributions of $250 or more, one acknowledgment that reflects the total amount of the donor’s contributions for the year is sufficient."

I know of no state law that supersedes this, but I am not familiar with Maine’s charity laws, so of I was you...I would contact a knowledgeable local CPA and ask them this question. You could probably have them email you the answer, so you would have it in writing to present to the Board.

Hope this helps.



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