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

When someone makes a donation to a nonprofit organization in the state of Washington, the organization must provide some basic information about the donation. Depending on the type of donation, there may be additional pieces of information that need to be disclosed. For instance, if someone is making a monetary donation, the organization should provide a receipt that includes the donor’s name, the name of the nonprofit, the amount of the donation, and a description of any goods or services the donor may have received in return for the donation. In addition, if the donation is subject to an income tax deduction, the nonprofit should also provide the donor with a written acknowledgement of the donation that includes the amount of the donation, the date it was given, and a statement indicating that the donor received no goods or services in exchange for the donation. Also, if the donation is a non-cash donation, such as property or stock, the nonprofit must provide the donor with a written acknowledgement of the donation that lists the fair market value of the donation, the date it was received, and a description of the item donated. Finally, if the donation is more than $250, the donor must also be provided with a written acknowledgment from the organization that contains the same information as above, as well as a description of any additional goods or services the donor may have received in exchange for the donation. Overall, Washington state law requires nonprofit organizations to provide donors with certain information when they make a donation, regardless of the amount or type of donation. By providing this information, organizations can ensure donors receive proper credit for their generosity and protect them from any potential legal issues.

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

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