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Acknowledgment tax letter

  • 1.  Acknowledgment tax letter

    Posted 15 days ago

    Do we have to know the name of the donor to issue a tax letter/receipt?

     

    We received a gift from Goldman Sachs Gives from an anonymous donor.  I believe they want a tax letter from us.  We have been told to address it to A Friend of Parkland, c/o of our Goldman Sachs rep.

     

    Thanks

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  • 2.  RE: Acknowledgment tax letter

    Posted 15 days ago
    Hey Scott,

    There's nothing wrong with thanking an anonymous donor for a gift, with the gift amount, and a statement that no goods or services were exchanged for the gift. What the donor does with it and how they represent it to the IRS is their business. You have no affirmative duty to provide a receipt at all, you just have an obligation not to be misleading or dishonest if you do provide a receipt.

    Generally speaking, it's not a problem to give to charity anonymously via an agent and still get a tax deduction. The documentation of the payment to the agent, the agency agreement, the payment to the charity, and the charitable receipt will pass the facts-and-circumstances test for deductibility. But again, it's not your problem.

    Really the main thing to clarify in your example is that the gift was indeed made by GSG as an agent, such that the anonymous donor was in fact the last legal owner of the funds before they were contributed.




    Thank you,
    Isaac Shalev
    CRM Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






  • 3.  RE: Acknowledgment tax letter

    Posted 15 days ago
    Of course, if the gift came from the Goldman Sachs Philanthropy Fund, no tax receipt should be isued.  TThis fund is their DAF.  Many donors give anonymously through it.

    Only a confirmation or Acknowledgment is needed in that case. And it can be addressed as indicated.  The original donor already has their tax receipt.

    John


    John Taylor
    919.816.5903

    Big ideas; small keyboard