Anyone donating 250 dollars or more in cash or goods must be listed with name and address on the annual filing of Schedule B of IRS Form 990.
The Quid Pro Quo donation is one in which a donation is made in the expectation of receiving a gift in return. If a donor receives such a gift, the amount reported to the IRS is the full amount of the donation(IRS-557, 2005).
A nonprofit organization may raise all of its funds at once or in small increments throughout the year. Some organizations are only remembered at certain times of the year, so the organization’s Chief Financial Officer must be sure to evenly allocate resources so that general operating expenses as well as particular expenses are covered year-round. The CFO must also be able to allocate funds to programs that will have a direct impact on the success of the primary objective of the NPO. Monies spent should ensure the program continues to directly benefit the organization’s constituents.
