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Entering Non-Cash Contributions

Posted: Mon Feb 11, 2013 7:33 pm
by santoheath
How do you enter contributions made to the church that were given? If someone gave clothing for the Homeless or food pantry?

Re: Entering Non-Cash Contributions

Posted: Mon Feb 11, 2013 8:12 pm
by NeilZ
santoheath wrote:How do you enter contributions made to the church that were given? If someone gave clothing for the Homeless or food pantry?
This thread can help you with this, it covers versions 11.1 and up:

viewtopic.php?f=4&t=7049&p=24709

Re: Entering Non-Cash Contributions

Posted: Sat Feb 23, 2013 11:32 am
by Preacherterry
I would like to know the answer to this as well.

Re: Entering Non-Cash Contributions

Posted: Sat Feb 23, 2013 3:36 pm
by JohnDMeyers
We have a system where a contribution of an "in-kind" gift can be assigned a dollar amount and show up on a contribution statement.

Contributions / Setup / Maintain Custom Codes, Contributions Types
ADD
In-kind Gifts

Create a Contribution that doesn't include the checking account in Fund Accounting:
Contributions / Setup / Maintain List of Contribution Funds
ADD
130 Clothing In-Kind Gift
[Accounting Tab]
CR 01-4190-000 Clothing In-kind gift
DB 01-5190-000 Clothing gift to Homeless

Contributions / Enter Contributions
[dropdown] In-kind Gifts
Envelope 1324
Fund 130
Amount $15.00

By setting the CR account to income and the DB account to expense, the gift has no impact on the Income and Expense Statement. For computer programmers, this is called a "no-op". It does nothing to affect the "bottom line". It simply gets recorded.

You can look at the Income report and see how much In-kind stuff the church has received. You can also look at the Expense report and see how much In-kind stuff the church has given out.

It also allows the contributor to claim a tax-deductible donation for a gift to charity.

Re: Entering Non-Cash Contributions

Posted: Mon Feb 25, 2013 9:55 am
by Jeff
You need to be careful about assigning a value to non-cash contributions. From IRS Publication 1771
Charitable Contributions Substantiation and Disclosure Requirements http://www.irs.gov/pub/irs-pdf/p1771.pdf

Although it is a donor’s responsibility to obtain a written acknowledgment, an organization can assist
a donor by providing a timely, written statement containing the following information:
1. name of organization
2. amount of cash contribution
3. description (but not the value) of non-cash contribution
4. statement that no goods or services were provided by the organization in return for the contribution, if that was the case
5. description and good faith estimate of the value of goods or services, if any, that an organization provided in return for the contribution
6. statement that goods or services, if any, that an organization provided in return for the contribution consisted entirely of intangible religious beneits (described later in this publication), if that was the case