Gifts to Associations

by Mel

We send monthly support to our associations, both local and others like BGCT. Is there any paperwork we need to issue or anything to substantiate our monthly gifts? Do you have to verify that they are also 501(c)(3)?

Comments for Gifts to Associations

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by: Anonymous

Good booking practice would be having documentation on all checks written. Do you have policies in place on how you decide who gets the gifts?
The IRS requires some things:
"The following documentation should be recorded for accurate record-keeping:
1. A complete description of the assistance
2. The purpose for which the aid was given
3. The objective criteria for disbursement
4. How the recipients were selected
5. The name, address and amount distributed to each recipient
6. Any relationship between recipient and officers, or key employees or substantial contributors to the church."


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