Donation Accounting Services

Service Description

This service provides for the processing, accounting and management of donations. The creation, management, and use of a comprehensive donor database is a separate service described in Donor Support Services. The donation recording keeping and reporting service provides:

• Delivery point for donations
• Recording of receipts in manner that affects general ledger

Ø         Donor’s name and address

Ø         Date received

Ø         Gift number

Ø         Amount donated

Ø         Check number

Ø         Project or purpose designation

• Printing and mailing of a tax receipt
• Optional printing and mailing of a year-end summary statement
• Depositing of donations in bank or at broker
• Tracking of donations by a specific fund in the general ledger
• Emailing of “Donations Received” report after completing each deposit
• Producing of a monthly donation reports showing monthly and year-to-date information for current year and previous year

Types of donations that can be processed

• Check, cash, and wire transfers
• Stock and bonds
• In-kind donations – use of house, car, receipt of car, etc.

Cost elements:

• PO Box, if required, at cost
• Setup of accounts, tax receipts, and system
• Staff hours

Cost determinants:

• Number of donations received per month
• Number of non-cash donations per year
• Tax receipt layout and text requirements