Chart for handling large outright gifts of cash

Step-by-step Chart
Large Outright Gifts of Cash
Approved by and/or signaturesDate CompletedNotes

Are there any restrictions or designations on the gift proposed by the donor?

Board of Directors

Are these acceptable to organization? If not, work with the donor to resolve.

How would the donor like to be recognized?

If the proposed gift is of significant size, is it structured to maximize benefits to the donor as well as the charity? E.g. has donor been advised of tax advantages of gifts of securities?

Refer the donor to independent professional advice before the gift is finalized.

Do you wish to have the gift designated as a 10 year gift in order to keep the gift out of your disbursement quota calculation?

Donor agreement to 10 year gift

Or do you wish to use the gift before then?

Ensure donor writes charity's correct legal name & any gift designation on the cheque.

Donor

Ensure that a letter from the donor is included outlining any designations or restrictions.

Donor

Photocopy cheque and retain donor letters or notes, for your records.

Deposit cheque to the charity's bank account.

Issue tax receipt to the donor for the amount of the gift. Keep a copy of the tax receipt, for your records.

Cheques must be delivered or post-marked no later than Dec. 31st to qualify for a tax receipt for the current year.

The gift is complete when the cheque is delivered or mailed to the charity.

Monthly giving: issue an annual tax receipt for total amount given during the year.

Cash may also be given by will (a deferred gift). When funds are received from the donor's estate, issue a tax receipt to the donor's estate for the amount of the gift

Follow acknowledgement procedures in a timely fashion.

Last modified: Monday, 4 February 2013, 10:10 AM