After 35 years and 2,500 501c3 applications through the IRS with a 100% success rate, David Marmon is cutting back his workload. If you are interested in getting 501c3 status for your nonprofit, or know someone who is, now is the time to come in.
A contribution made by a donor in exchange for goods or services is a quid pro quo contribution. If you get a donation greater than $75, and give the donor something in return, you must disclose the value of that something to the donor.
Donors can only claim a deduction for the amount they contributed above the amount of the goods or services they received. Because the donor’s payment exceeds $75 you must give the donor a written disclosure statement for the value of the concert ticket.
The quid pro quo disclosure statement must provide the donor with a good-faith estimate of the fair market value of the goods or services.


Thank you for your cash contribution of $150 that [organization’s name] received on [date received]. A penalty will be assessed on your organization if it fails to provide a written disclosure statement at the time of solicitation or upon receiving the contribution. It must also tell donors that they can only claim the contribution amount that exceeds the fair market value of the goods or services provided.
In exchange for your contribution, we gave you a cookbook worth an estimated fair market value of $25.
Martin gives the required written disclosure statement for a quid pro quo donation to each donor at the end of the year along with a tax-deductible receipt for donations received that year. Sally gives a tax-deductible receipt for a quid pro quo donation where a 5-volume CD is  given to the donor. Ramiro provides his donors with solely a tax-deductible receipt that includes a good-faith estimate of the fair market value of the goods or services.


Therefore, for Federal income tax purposes, your contribution deduction is limited to $125. The disclosure statement must come at the time of solicitation or upon receiving the contribution. The required disclosure statement must also tell donors that they can only claim the contribution amount that exceeds the fair market value of the goods or services provided.
The disclosure statement must provide the donor with a good-faith estimate of the fair market value of the goods or services.



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