What type of information must be disclosed when a donation is made to a nonprofit organization?

When an individual or organization makes a donation to a nonprofit organization in North Carolina, certain types of information must be disclosed to the nonprofit. This information includes the donor’s name, address, and the amount of the donation. This disclosure provides transparency in the receipt of funds by a nonprofit organization so that all donations can be accounted for. In addition to the donor’s name and address, the nonprofit organization must also record the type of payment made for the donation. This could include cash, check, or credit card. When the donation is made by credit card, the nonprofit must also provide the credit card’s expiration date and the first four digits of the card number, referred to as the card’s “bank identification number (BIN)”. Finally, the nonprofit must keep a record of any goods or services received in return for the donation. This could include anything from t-shirts to tickets to a dinner event. For any goods or services received in return for the donation, the nonprofit must estimate the value of the item and subtract it from the total amount of the donation. This helps ensure that the organization is accurately accounting for any goods or services received in exchange for donations.

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