This form is a sample letter in Word format covering the subject matter of the title of the form.
Donation Receipt For Stock Donation In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-0020LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
You can donate any amount. You'll receive a dollar-for-dollar Arizona state tax credit for your generous contribution, up to $470 (single) or $938 (married, filing jointly). This credit directly reduces the amount of tax you owe, offering a dollar-for-dollar subtraction from your tax liability.
By Intuit• 3• Updated 2 weeks ago Select + New. Choose Sales Receipt. From the Deposit to dropdown, select your bank account. In the Product/Service section, select the product you are donating. Change the Rate of the selected product to zero, then select Save. Select + New. Select Journal Entry.
Record the Donation For accounting purposes, publicly traded stock should be counted at the average of the high and low selling prices on the gift date (the date you receive it).
You can utilize an excel document or another method as long you can easily categorize the following information to prepare nonprofit accounting for stock donations: The date on which you received the donation. The symbol for the donated stock (also called the "ticker") The stock's value on your receipt date.
The same applies to stock gifts/donations. In this case, you should send a donation receipt comprising details such as the ticker symbol, the number of shares, and the donation date. Mentioning the value of the stock is not necessary since a nonprofit is not supposed to be assigning value to stocks or gifts.
As soon as a stock donation is received, it becomes one of your nonprofit's assets. You should record this in your records immediately, or at a minimum once per month. In that same spreadsheet you established earlier, the value of the stock on the date of receipt becomes the donation amount.
What do you need to include in your donation acknowledgment letter? The donor's name. The full legal name of your organization. A declaration of your organization's tax-exempt status. Your organization's employer identification number. The date the gift was received. A description of the gift and the amount received.
What To Include in Donor Acknowledgement Letters Donor's name. Address the donor by name. Organization's name. Clearly state your nonprofit's name to make the letter official and avoid confusion. Donation amount and date. Type of donation. Tax information. Mission impact. Closing with gratitude. Clear Subject Line.
If a charity receives a gift of publicly traded stock, the charity should send the donor an acknowledgement letter that describes the stock (i.e., “Thank you for your donation of 100 shares of XYZ Corporation”) but does not place a monetary value on the shares.
More info
Donate to St. Mary's Food Bank through a gift of stock or from your Individual Retirement Account (IRA) and help us continue our mission. How do I get a receipt if I can't locate one?Donation receipts are important! Here's how to create donation receipts your donors (and the IRS) will love. How do I donate Common Stock (not a mutual fund)? The tax credit is claimed on Form 321. Learn what to include in your donation tax receipts and how to leverage them for compelling nonprofit storytelling. How do I set up a recurring donation after my account has been set up? The gift must be made in the name of Parent Aid. Stock must be transferred via the DTC method.
