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Gifts of Cash

All gifts of cash will be deposited in the Attorney-CPA Foundation's financial institution as soon as possible and in any event not later than the second business day after their receipt.

Procedures for Handling Cash and Checks

  1. Cash receipts are given immediately for all cash received.
  2. Checks are endorsed and photocopied and a deposit slip shall be prepared.
  3. After the total of checks for the day has been totaled a second individual will double check the balances, initial the deposit slip that the amount has been verified.
  4. A courier will make the deposit to the banks prior to the cut off time for credit on the same business day. The deposit slip will be given to the Treasurer for reconciliation on a weekly basis with the donor tracking.
  5. A copy of the check and correspondence will be filed in the donor file folder.
  6. The development staff will enter the date into the computerized donor tracking system.

Cash Gifts in Excess of $10,000

Upon receipt of any cash gift of $10,000 or more IRS Form 8300 must be completed by the Development Director and forwarded to the Internal Revenue Service (IRS). This amount can be changed by the IRS.

Quid Pro Quo Contributions

The Attorney-CPA Foundation will provide Donors a more detailed acknowledgment if the contribution is a "quid pro quo contribution" in excess of $75.00 or such other amount specified by the IRS. A quid pro quo contribution is payment made partly as a contribution and partly for goods or services provided to the Donor by the Attorney-CPA Foundation. The written disclosure statement must:

  1. Inform the Donor that the mount of the contribution that is deductible for federal
    income tax purposes is limited to the excess of any money (and the value of any
    property other than money) contributed by the donor over the value of goods or
    services provided by the Attorney-CPA Foundation, and
  2. Provide the Donor with a good-faith estimate of the value of the goods or services that the Donor received.

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