If you area non-profit organization or a community group that accepts vehicles as a donation, you must provide the donors with an accurate donation acknowledgment document. At WordLayouts, we have created a professionally designed vehicle donation receipt to recognize such donations and help you stay compliant with regulations. This user-friendly template will help you easily create a compliant and comprehensive vehicle donation receipt.
A vehicle donation receipt is issued to the donor when you receive a vehicle as a donation. This receipt is issued at the time of donation or shortly thereafter and is essential for both parties involved. Receipts for vehicle donations are vital for donee organizations to accurately file their returns and declare their incomes to the IRS.
The information from these receipts is used to complete Form 990 which details the organization’s finances, including donations received. If you have sold the donated vehicle then you must report that. The IRS issues Form 1098-C to the donor for vehicles sold. This receipt is also essential for the donor because it provides the necessary documentation to claim a tax deduction on their income tax return. Thus, this receipt is invaluable for donors as well to accurately report the fair market value or sale proceeds of the vehicle.
This vehicle donation receipt template is professionally designed to ensure comprehensive documentation. At the top of the receipt, fields for the receipt number, date, and time are provided. The organization details section captures the name, place issued, country, and address of the recipient organization.
You can add the donor details, including the full name, contact number, and address in the designated fields. The tax-deductible field is for confirming the donation’s eligibility for tax deductions, while the date of donation field specifies when the vehicle was donated. The vehicle details section includes fields to note the year, model, color, mileage, license plate number, and VIN of the vehicle.
Finally, in the vehicle location section you can specify where the vehicle is located. You can sign the receipt in the authorized signature and date fields at the bottom. Use this template to quickly create a receipt, reduce the administrative burden to focus on your outreach and mission.
FAQs
Can I add my organization’s information to the template?
Yes, you can easily add your organization’s logo, name, contact details and country to this template.
Can I print this template?
This template is print ready and can be printed at any office printer. If you want to create a receipt book, then simply print in bulk and bind them together for a durable receipt book. You can use the Mail Merge option in MS Word to add unique receipt numbers as well.
Is this vehicle donation receipt template customizable?
This template can be fully modified according to your needs. You can change any text field and add any custom fields as well. Text fields which are not needed can also be removed. Moreover, you can change the fonts, size and colors according to your branding elements.
