I won’t even pretend to have a comprehensive understanding of how the new tax laws impact a nonprofit’s requirements for valuating and acknowledging donations. Fortunately, Joe Patti recently published an article at ArtsHacker that covers several points of contact that should serve as good places your organization should to begin having these discussions with your accountants and attorneys:
- Acknowledging Donations
- Deducting Benefits
- Be Careful With Donor Advised Funds
- Acknowledging Other Things Of Value
Be sure to put the article on your reading list.