I'm no "expert" but we treat a donation from a parent as we would treat any other donation. We just describe it as a donation from XX Parent in the line item in our books. If they want a receipt, we can make up a little note that thanks them for their donation and specifies the amount they gave such as:
Dear Mr. and Mrs. John Doe,
Thank you for your recent donation to our group of $100. The money will be put into the general fund and used to support our many programs.
Sincerely.
Sue Smith
President, XYZ Elementary PTO
The letter gives them documentation for tax purposes.
You could always check with a tax expert or for that matter just call the IRS hotline and see what they say.
I have been apart of the meetings for sometime even though I am new to the board and I know in the past our parents have wanted to do the same and our board has had them donate the item they want us to have. If it is not enough then we have had them get together with other parents who have wanted to give money. It is a wonderful gesture but we stay away from it too.
Heather L Morris
pals;130389 wrote: Okay this is for the experts out there as I need verification. A question came up tonight about taking cash donations from families, we don't do this at all. This parent asked why, I have always strayed from it because of all of the regulations and book keeping assoicated with it.
If your group accepts these donations how do you handle it, we are a 501c(3) and I am just looking to see how it effects everything from regular book keeping to the 990 filing.
Heather L Morris<br />
<br>VP PTO Washington Elementary
Okay this is for the experts out there as I need verification. A question came up tonight about taking cash donations from families, we don't do this at all. This parent asked why, I have always strayed from it because of all of the regulations and book keeping assoicated with it.
If your group accepts these donations how do you handle it, we are a 501c(3) and I am just looking to see how it effects everything from regular book keeping to the 990 filing.
"When you stop learning you stop growing."
