Knowing How Much To Ask For

Dear Kim:

Do you have to send receipts to donors for their gifts?

-Covering My Bases

Dear Covering:

The FASB (Financial Accounting Standards Board) regulations stipulate that you must send a receipt for any gift over $250. However, the Kim Klein and All Other Fundraisers Worth Their Salt (KKAOFWTS) regulations stipulate that you must send a thank you note for all gifts of any size as soon as possible. Your thank you note specifies the gift, “Thank you so much for your gift of $250” and notes, “no goods or services were provided for receipt of this gift.” When the size or type of gift is specified like that, the thank you note doubles as a receipt.

Do not skip this step in working with donors. A thank you note, personally signed, is the right thing to do because it lets the donor know that you received their gift, and also how much you appreciate their support.

I feel so strongly about this that I am providing my article, “The Thank You Note” for free on our website for the next month. Just click here to download it.

-Kim Klein