FundSvcs Community

Hi,

My institution received a gift of Canadian stock and I was just asked for a receipt requesting various information, including the amount of the donation. Our practice is to send acknowledgment letters with the tax info that serves as the receipt and of course, to not list an amount for stock per IRS rules for gifts of property. Since this is outside the U.S., is it okay to give the amount booked (avg of the high/low date received)? Also, how would you tackle the receipt number requested when you don't issue receipts? This is the information the Canada Revenue Agency requested for the donors:

CRA has very different receipt requirements compared to the US. You must conform to their requirements and depart from the US standard.

I just delivered a presentation that touched on these differences. Below is a copy of a typical in-kind receipt that meets CRA conditions.

As for the receipt number, the unique gift number produced by your CRM should be sufficient.

John H. Taylor

Principal

John H. Taylor Consulting, LLC

2604 Sevier St.

Durham, NC   27705

johntaylorconsulting@gmail.com

919.816.5903 (cell/text)

Serving the Advancement Community Since 1987

Hi,

My institution received a gift of Canadian stock and I was just asked for a receipt requesting various information, including the amount of the donation. Our practice is to send acknowledgment letters with the tax info that serves as the receipt and of course, to not list an amount for stock per IRS rules for gifts of property. Since this is outside the U.S., is it okay to give the amount booked (avg of the high/low date received)? Also, how would you tackle the receipt number requested when you don't issue receipts? This is the information the Canada Revenue Agency requested for the donors: