Have you received an in-kind donation for your fiscal sponsorship and are wondering what to do next? Here is what we recommend doing.So you've received an in-kind donation to go towards your fiscal sponsorship project. The donor of the in-kind donation looks to you and asks, "What's next?"
Here's what to do:
- Email us at email@example.com to request an in-kind donation receipt.
- Give the in-kind donation receipt to the donor, and have the donor fill out the receipt with what they've donated to your fiscal sponsorship project.
- Once the donor has filled out the receipt, you (fiscal sponsorship project) will sign the receipt where it asks for "Signature", and you'll also fill out the "Location" of where the in-kind donation was donated to.
- Once the in-kind donation receipt has been signed, the donor will keep the receipt for their tax purposes.
*If the donation exceeds over $500.00 we strongly suggest that the donor get an 8283 filled out in case the IRS questions or needs validation.
We have more articles on fiscal sponsorships and what the process looks like to set up a fiscal sponsorship with Legacy available via our knowledge base.
If you have further questions or concerns regarding in-kind donations, please reach out to us! We are happy to be of assistance.
Here is how you can reach us:
- Click on the chat bubble icon on the bottom right-hand side of your screen. Our team responds quickly to the instant chats that come via the chat bubble
- Email our team at firstname.lastname@example.org
- Give us a call at 602-704-2000