A Donation Agreement (or a Charitable Gift Agreement) is a document used as written proof of a donation to a non-profit organization in the US.
A Donation Agreement (or a Charitable Gift Agreement) is a document used as written proof of a donation to a non-profit organization in the US. This contract is necessary for both parties of the agreement: the charitable organization (also known as the receiver) and the person or entity donating (also known as the donor). The charitable organization must hold all the information of donations received. Also, the donor as well has to keep all the records of the donations he has given. It is useful for both parties to have financial records on file because it helps them to organize their internal record-keeping better and is necessary for the tax period.
In a Donation Agreement, the following information must be given: the parties' identities and the description of the donation. Also, if wanted, the form of the receipt can be given as well. The proper Donation Agreement will also have a revocable opportunity and expense responsibility.
You fill out a form. The document is created before your eyes as you respond to the questions.
At the end, you receive it in Word and PDF formats. You can modify it and reuse it.
The document is a helpful tool for a donating person or a company and is organized under Section 501(c)(3) of the Internal Revenue Code. In this template, it is allowed to fill out all the relevant identifying details, such as the contact information, donation's details, including the monetary value.
A completed document has to be signed by both parties, either in a printed or virtual format.
Donation agreements in the United States are subject to the Internal Revenue Code, overseen by the Internal Revenue Service, or IRS. More accurately, Section 501(c)(3) of the Internal Revenue Code covers charitable organizations.