Year End Tax Report

Monika,

We do get requests for calendar year-end statements. And that was what I was hoping to get from your inquiry. So far we have not had any multi-year pledges with a cost of goods and services as a part of it. So I don’t have an answer for you. I supposed it would depend on when those goods and services were received. Keep me posted and thanks for touching base.

We are in the process of creating a Year End Tax report for our donors. I had posted a request to the shared reports forum to see if any one had such a report available.  However, it does not seem to be the case? Once I have ours , I am happy to share it if there is any interest.

While putting together the specifications I do have some questions though, that I was hoping to get some feedback on.

Do you ever get requests from donors for calendar year-end tax receipts, and how do you fulfill them?

When receipting a pledge with a non-dedcutible portion that spans multiple calendar years, do you account for the whole value of goods and services in the first year or do you pro-rate that?

thanks for your feedback!!

Monika

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Since you can’t take a tax-deduction on a pledge, you don’t really need to “receipt”, or provide a detailed accounting of the benefits received for a pledge.  However, once the gifts are fulfilled, I would definitely go the route of pro-rating the goods/services value based on when the goods/services are provided.  If there isn’t a clear way of determining when the particular benefits accrue to the donor, perhaps you could ask the donor what she/he/they would prefer…?

We are transitioning now to Tessitura.  With our previous system, we made a habit of providing annual calendar-year tax receipts to all donors who gave more than one or two gifts or payments within the calendar year.  It seemed a nice gesture to help simplify their paperwork.  Donors have been appreciative, and we plan to continue doing this, but I haven’t tackled how to pull it off in Tessitura yet.  It may involve a custom report or output set.

Monika,

We do get requests for calendar year-end statements. And that was what I was hoping to get from your inquiry. So far we have not had any multi-year pledges with a cost of goods and services as a part of it. So I don’t have an answer for you. I supposed it would depend on when those goods and services were received. Keep me posted and thanks for touching base.

We are in the process of creating a Year End Tax report for our donors. I had posted a request to the shared reports forum to see if any one had such a report available.  However, it does not seem to be the case? Once I have ours , I am happy to share it if there is any interest.

While putting together the specifications I do have some questions though, that I was hoping to get some feedback on.

Do you ever get requests from donors for calendar year-end tax receipts, and how do you fulfill them?

When receipting a pledge with a non-dedcutible portion that spans multiple calendar years, do you account for the whole value of goods and services in the first year or do you pro-rate that?

thanks for your feedback!!

Monika

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!