Memo line on a contribution?
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Memo line on a contribution?
We just began using Power church and once a month we will have someone who gives specific money for a missionary. Now with the contribution funds should I set up a special fund for each specific person that is given to, to track it properly or is there a way to put a memo in to tell me who the specific missionary the money was given too?
Re: Memo line on a contribution?
FWIW ... if I remember right, any money given in direct support of a particular person or missionary, IS NOT deductable. IRS Pub 526: 'You cannot deduct as a charitable contribution: a contribution to a specific individual". This has been read to include direct support of missionaries.DanaD wrote:We just began using Power church and once a month we will have someone who gives specific money for a missionary. Now with the contribution funds should I set up a special fund for each specific person that is given to, to track it properly or is there a way to put a memo in to tell me who the specific missionary the money was given too?
That said, there is no way to enter a memo in contributions module to track who the money was targeted to. You would have to create a separate contribution fund.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
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*THIS* is the thread I meant to post this reply into.
In the wrong thread, I wrote:This is a request we get a lot, and the reason it hasn't been implemented is because if you start entering that sort of data, eventually, you're going to want to report on that data. It's very difficult, if not impossible, to accurately report on a free type field. This usually is described in terms of a memorial fund. If several people were to give a gift in memory of "William Smith," that could (and most likely would) be entered many different ways. "Bill Smith," "Will Smith," "William Smith", "W Smith," "B Smith," "William A Smith," W.A. Smith," "B. Smith," "W.Smith," etc. All of these would be show up as different people on a report, and if you wanted a total? Obviously, you can see that would never work.
The only argument I've heard that holds any water is a user wanted that information to show on a contribution statement as a reference for the giver. They didn't actually want to report on that data. That's one out of several dozen though. Most people actually want to be able to report on the data they enter.
Tracking donations for missionaries
This topic has been discussed in the general forum. See http://powerchurch.com/forum/viewtopic.php?t=1527
While you can't give tax receipts for personal gifts, the IRS does permit tracking gifts for the ministry support of missionaries and short term volunteers. See the excellant explanation from the VP of EFCA in the post reference above.
Hope this helps.
While you can't give tax receipts for personal gifts, the IRS does permit tracking gifts for the ministry support of missionaries and short term volunteers. See the excellant explanation from the VP of EFCA in the post reference above.
Hope this helps.
NMC admin