National Standard 22: Foundation Provides Gift Acknowledgement and Fund Statement for Donors

A community foundation promptly and accurately acknowledges gifts and provides fund statements, at least annually, to those donors who wish to receive them.

Key Elements 

22.1 Do all donors, including online donors, who make a gift of more than $250 receive a gift acknowledgement that complies with the IRS guidelines for a gift receipt, including:

  1. Name of the organization
  2. Amount of the cash contribution
  3. Description but not the value of non-cash contribution
  4. Statement that the community foundation did not provide goods or services in whole or in partial consideration for any contributions’ to the organization or a good faith estimate of the value of goods and services, if any, that an organization provided in return for the contribution?
  5. For donors to advised funds the specific statement that the foundation has exclusive legal control over the contributed assets.

Note:PayPal does not offer this type of receipt and does not allow editing of their receipts, so additional information is required for a gift receipt from their site and possibly from other online vendors.

22.2 Does your community foundation provide all fund holders who wish to receive them with fund statements at least annually?  A fund statement that is available through an online portal satisfies this requirement.