There is No Free Lunch (or Dinner, for that Matter)

As summer draws to a close and the fall fundraising season approaches, there are a few fundraising reminders and best practices that bear repeating. The most important involves fundraising events at which guests have a reasonable expectation of receiving goods or services in exchange for the price of attendance. In this situation, some portion of the ticket price is not deductible as a charitable contribution because it is considered a quid pro quo amount. Quid pro quo literally means “something for something.” The portion of the ticket price that is not deductible as a charitable contribution is the fair market value of the benefit received.

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9 Best Practices in Responsible Fundraising

By Candi Avery, CPA, CGMA

Charities rely on the generosity of donors to make programs happen, and contributions are often the lifeblood of the organization. Organizations that build responsible fundraising practices are more likely to succeed than those that do not. The following are practical guidelines, policies, and practices that charities soliciting funds should review and address:

1. Abide by the Code of Ethics and Donor Bill of Rights

Without public trust and confidence, fundraising would not be able to exist. Ethical, responsible fundraising practices should be openly talked about and frequently communicated within each organization. The Association of Fundraising Professionals (AFP) has developed the Code of Ethics,

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IRS says Internet Fundraising is Okay, but Beware of Pitfalls

By Karen Dunn, JD, LLM

No prohibition exists against a 501(c)(3) organization using the internet for fundraising, the IRS said in a recently released information letter. Web or email fundraising should comply with the same rules* that apply to other solicitations. Since most organizations do some sort of internet solicitations, organizations must be cautious and aware of the requirements. IRS examination guidelines and the recent information letter highlight recommendations to follow.

IRS Recommendations for Online Fundraising
1. Comply with the Regular Donation Substantiation Requirements

This includes such requirements as the substantiation of quid pro quo contributions of more than $75.

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