Gifts to Associations

by Mel
(Texas)

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

Click here to add your own comments

Feb 01, 2013
tracking
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."

Prayers

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Church Accounting FAQs.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)



Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.