2022 Year-End Planning for Not-for-Profits

Posted on Jan 1, 2023

As organizations near their year‐end, it is time for them to consider how today’s financial actions affect year‐end reporting. Below are some of the items and reminders to consider before year‐end:

Donor Acknowledgement Letters

Please remember to send a contemporaneous written donor acknowledgment letter to all donors who contributed to the organization during the tax year. The IRS has disallowed charitable contribution deductions when the donor does not have the contemporaneous donor acknowledgment letter required by IRC §170 or when the letter fails to include the required information, including the quid pro quo language.

Click here to read the full year-end planning letter.

Click here to read the Washington State and Local Tax Addendum.