Barbara Geralds Institute for Storytelling and Social Impact’s Post

Did you know that you don't actually have to send your donors an annual giving summary? The IRS requires contemporaneous substantiation of each individual transaction -- but the annual summary is simply a courtesy to the donor. Make sure you are staying compliant with the actual IRS requirements, and sending a specific receipt for each tax-deductible donation as soon as possible after a donor has made a gift to your org.  ... And go the extra mile and keep sending that annual summary letter, too!

Our Big Give #ChristmasChallenge ends in just a few hours! Every donation makes a difference—because the barriers to reading are real: 📖 3 in 10 UK adults can’t focus on reading for more than a few minutes. 💷 4.35 million adults say financial reasons stop them from reading. 📚 3.85 million adults lack access to books. 💡 1 in 7 non-readers say they’d read more if they had more confidence. This is your last chance to make double the impact. Your support can help us overcome these barriers and empower adults to unlock the life-changing benefits of reading. One donation, DOUBLE the impact. Donate now before it’s too late: https://bit.ly/4fTYbPN #BigGive #TurningThePage

What does a $20 donor get in return for their donation? A lot of people believe that you need to offer something material in return. Like: 1. A box of cookies 2. A raffle ticket  3. A coffee mug  4. A tax refund The truth is, if you make the donation about getting something in return, it will end there. Instead, if what you get in return is: 1. A feeling of helping someone you love 2. A deeper relationship with the person who asked you 3. Changing someone's life for the better 4. You’ll want to give again and again.

Tip #5: The moving tip of the week is all about blessing others with your treasures! Read on… ✓ Gift your treasures 📦 As you sort through things: 📦Make a box or bag for each person in your family and put things you’d like to give them in the box. For family living out of town: 📷Take a picture of the item and ask if they have any interest. 🎁If not, consider making a donation and bless someone in need. ⭐Remember, although something is a treasure to you, your children may not feel the same way. Check out this Moving Tips blog for more info! https://bit.ly/3XvyZal #Treasures #BlessOthers #SeniorLiving

Keep your 2025 giving goals on track with these simple Impact Account tips: 💡 Set your donation budget. 🔄 Automate monthly deposits & gifts. 🎯 Make giving your easiest resolution! Let’s make 2025 the most generous year yet! #GivingGoals #CharitableImpact

For those who live by the motto ‘out with the old, in with the new’, today's #TaxNowTip is for you! 👏 The summer heat has arrived and your wardrobe needs a refresh. ♻️ Time to clear out the closet! As you bag up your items for donation, do you ever think: can I really write off thousands of dollars in clothes I've donated? 🤔💰 The answer is yes, but there's a bit more to it than just handing over a bag of clothes and getting a large deduction on your taxes. We're breaking down the essentials in our latest blog post, 'Can I Really Write Off Thousands in Donated Clothes?'. Read more here: https://hubs.la/Q02CGB2D0 #TaxNow #Taxes #WriteOffs #BlogPost #TaxTips #TheMoreYouKnow

Planning to donate cash? This is what you must know- Qualified organizations will gladly accept your contribution, but make sure you keep proper documentation. For donations under $250, retain a receipt with the organization’s name, the amount, and the date of your gift—essential if the IRS needs verification. For contributions over $250, you’ll need an acknowledgment letter from the charity detailing the amount, date, and organization. If you received anything in return, its fair market value will be deducted from your donation amount. Stay organized for a hassle-free tax season! For tailored tax strategies, contact Tax@MyTaxFiler.com. #taxdeductions #charitablegiving #donationreceipts #taxorganization #taxsavings #taxplanning #taxreturn #taxpreparation

As easy as 1, 2, 3 to triple your impact with Food For The Poor!

Do you know what #GiftAid is? It's a simple way to increase your donation by 25%—at no extra cost to you! In these tough financial times, Gift Aid has made a huge difference, helping us boost our income and make a bigger impact. Over the past two years, Gift Aid has accounted for over 10% of our annual donation income! 💛 This #GiftAidAwarenessDay, will you pledge to tick the Gift Aid box next time you donate?✅ It’s a small step that makes a BIG difference! #TickTheBox #GiftAidAwarenessDay

Only a few days left in 2024! Don’t forget to acknowledge your donors’ contributions for the year. The IRS requires you to send a written acknowledgement any single donation of $250 or more. Here are a few things you need in your donor tax statement letter: -Dollar amount of cash contributions -Description (but not value) of noncash contributions -Notations if the donation was received through an IRA or donor-advised fund. -Other gifts received such as seats at a fundraising event should clearly state the portion of the gift that is tax-deductible. -Your letters should SHOUT thank you loudly in a tone of appreciation. Once opened, the recipient’s eyes will go straight to the total they gifted last year. Framing this letter with opening and closing statements about the impact of their gifts and how much they are appreciated will go a long way. #YearEndGiving #FundraisingGoals #NonprofitSuccess