What type of information must be disclosed when a nonprofit organization receives donations?

When a nonprofit organization receives donations in Washington, they must disclose certain information. This includes the fact that the organization is a nonprofit organization and the purpose for which the organization solicits donations. Nonprofit organizations must also disclose the legal name and address that the organization uses for donations, as well as the names of any officers of the organization who are directly involved in the solicitation. In addition to the information required by state law, the federal government also requires some additional disclosure. Nonprofit organizations must provide information about their status as a tax-exempt organization under the Internal Revenue Code, as well as their Employer Identification Number and any other codes used to identify their organization. Finally, nonprofit organizations must disclose how contributions will be used and how donors may receive financial benefit or services in exchange for their donation. They must acknowledge all cash and non-cash donations and provide an estimate of all expenses related to the donation, including any commissions, fees, or other costs incurred in the solicitation or receipt of donations. Overall, nonprofit organizations must be transparent about their use of donations by disclosing all of the information required by state and federal law. This ensures that donors understand how their contributions are being used, helping to maintain accountability and trust in the nonprofit sector.

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What type of information must be disclosed when a nonprofit organization receives donations?

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