If your non-profit organization receives in-kind contributions rather than monetary contributions, you must provide a receipt for these to acknowledge the donor’s contributions. Whether food, equipment or services, you should properly account for your non-profit’s financial records. At WordLayouts, a detailed in-kind donation receipt template is available, which can be used instantly and help you save time and effort in creating a professional document.
Important Reminder: The full Form 990, Form 990-EZ, and Form 990-PF all require nonprofits to report their total revenue for the year, which includes credit values for in-kind contributions.
An in-kind donation receipt is issued by a non-profit when they receive any non-monetary contribution from individuals or organizations. As a non-profit organization, it is important to understand that issuing receipts for in-kind donations is important from both audit and tax reporting.
Properly recording these contributions is necessary not only for tax reporting but also to comply with certain states’ regulations and the Generally Accepted Accounting Principles (GAAP). Furthermore, if your nonprofit conducts an independent financial audit, the auditor will expect to see a detailed record of all donations, both monetary and in-kind.
This in-kind donation receipt template ensures comprehensive documentation of non-monetary contributions. The header section contains fields for recording essential details such as the date, time, and receipt number. The organization details section includes fields for the organization’s name, contact number, address, charity identification number, city, state, and zip code.
The donor details section records the donor’s full name, contact number, address, city, state, and zip code. In the description of items section, you can write a detailed description of the donated items, including their names and descriptions. The template also includes a signature and date placeholder. A note at the bottom of the template states that no goods or services were provided in exchange for the donation to ensure compliance with tax regulations for donations.
Lastly, a message is written which thanks the donor for their contribution. It contains placeholders for adding your organization’s name as well as the cause for which the contribution was made. You can print this receipt template in bulk after customization and create a receipt book as well.
FAQs
What are the available file formats for this template?
This template is available in DOCX, DOTX, ODT, and Google Docs.
How can I customize this template?
Customization is straightforward in this template. You can edit text fields and add any custom field according to your requirements. Moreover, you can also delete any section or field which is not necessary for your organization. You can easily modify it to reflect your organization’s brand elements as well. You can modify fonts, font sizes and colors to align with your organization’s requirements. Further, you can rearrange the layout of the template as well.
Can I add my organization’s logo to this template?
Yes. An image icon placeholder is provided at the top of the template and you can add your logo or any image there.
