OSU Extension Service – 4-H Youth Development Club Financial Form Series

Information for 4-H Clubs and Committees

Receipt of a Gift or Financial Donation

Guidelines

ð  Every donor (for a gift or donation of any value) should receive a receipt and Thank You note.

ð  A receipt should be sent or delivered to the donor very soon following receipt of the gift. IRS regulations state that acknowledgement of a contribution needs to be “contemporaneous,” meaning, received by the donor no later than the date that (s)he files taxes.

ð  To be claimed as a tax deduction, a donor needs a written receipt from 4-H (a non-profit organization) in particular, if the donation is (or has the value of) $250 or more.

ð  If a gift/donation is valued at $75 or more, then a ‘good faith estimate of value’ must be written on the receipt.

ð  If the donor received goods or products in exchange for the donation, then a ‘good faith estimate of the value’ is required to be noted on the receipt.

ð  If the club receives property of $5,000 or more, and/or sells that property within 3 years, contact the 4-H Foundation. The 4-H Foundation, County Association, committee, or club may be required to sign addition forms for the IRS.

ð  Contact the OSU 4-H Foundation, if a donation is received from a Canadian resident or business. Special guidelines will apply.

ð  Attached is a receipt for 4-H clubs to use for gifts, financial donations and in memoriam. The receipt was developed in conjunction with the Oregon 4-H Foundation.

Summarized by: M. Lesmeister & S. Elmshaeuser. June 2016

Reviewed by: S. Busler, S. Hunt & J. Baggott

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