Dear Kim Q&A Column Archive
March 2006
GIFT RECEIPTS FOR DONORS
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
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