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accountant beside you, donor, donor statements, Nonprofits - April 15, 2015

The Case for Sending Donor Statements Quarterly

Communicating with donors is a great way to keep your organization alive in their minds. Many donors only hear from the nonprofits they support twice a year-once when they ask for money and again when they receive their annual donor statement. Quarterly donor statements are a good way to thank your supporters, to let them know what good works are being done with their money, and can be a check against fraud. Additionally, if your supporters pledge or tithe, it is a pleasant way to show them how much is still due. Let's take each point individually. The donor statement...

Help Your Donors by Encouraging Donations of Stock

Tis the season for charitable donations and for non-profits to reassess their ability to accept appropriate contributions. Transferring stock for a charitable contribution may give the donor a significant tax advantage. With the stock market at all-time highs, many donors may have stock that has appreciated in value over the last few years. Donating this stock, in lieu of cash, may allow the donor to receive the full market value of the stock as a deduction instead of having to pay the capital gains. Stock transferred as a donation to an eligible organization may be deducted by the donor at the...

How to Track Donations Received for Other Organizations

Wondering how to handle donations received for other organizations in QuickBooks? Many churches and other nonprofits collect money for other organizations like a food bank or Habitat for Humanity. Tracking these donations and assuring the payments are made to the receiving organization takes a few extra steps. First, you will want to set up an Item with Service as the type called Pass Through Donations (or something similar). It should be linked to an Income Account in the revenue area (Outreach or Pass Through Funding, perhaps). If you are receiving the donations through a fundraiser or cash not from a particular...

New in 2014 QuickBooks Version; Simplified Bounced Checks Recording

By Lisa London I'd certainly hope this would not be an issue for your religious organization, but sometimes members don't balance their checkbooks as well as they should. If you receive an number of bounced checks each month, you may want to consider upgrading to the 2014 QuickBooks version. It simplifies the process and even makes it easy to balance your organizations checkbook as well as rebill the donor.

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