Magnifying GlassGet a free trial of IconCMO now! 30 days – No credit card required. Donation Quiz To start the quiz, click the blue ‘Start’ button below. 75 Created on December 30, 2020 Donation Recording Quiz This quiz will test a person's knowledge on recording various types of donations. Your results are for personal use and only available to you. 1 / 10 Category: General Questions Question: The typical donation statement must display certain information on it. Please select three from the following list. The social security number of the donor. Name of Organization. Amount of donation for cash donations. Name of Donor. A statement about goods and services. The church funds the donor donated to. According to the IRS website there the information that must be on the statement is as follows. Keep in mind there are different types of donations but this questions did not look at non cash donations. Name of the organization; Amount of cash contribution; Description (but not value) of non-cash contribution; Statement that no goods or services were provided by the organization, if that is the case; Description and good faith estimate of the value of goods or services, if any, that organization provided in return for the contribution; and Statement that goods or services, if any, that the organization provided in return for the contribution consisted entirely of intangible religious benefits, if that was the case. According to the IRS website a written acknowledgement is needed for a contribution over $250.00. The exact wording is "A donor claiming a deduction of $250 or more is also required to obtain and keep a contemporaneous written acknowledgment for a charitable contribution ." For a single donation under $250.00 the donor can provide their own records to prove the donation -- ie like bank records, credit card receipts. Or the church can provide the written acknowledgement but they are not mandatory to do so. Keep in mind if there are multiple donations that total to $250.00 or more, then the church must do a written acknowledgement of all the donations and the dates of them. 2 / 10 Category: General Questions Question: Does the church have to provide a written acknowledgement for a single donation under $250.00? Yes No 3 / 10 Category: Vehicle Donations Question: When a vehicle is donated that is claimed to have a value of more than $500.00, what IRS form must the church fill out? IRS Form 8282 IRS Form 8383 IRS form W-3 IRS Form 1098-C Please review the IRS instructions for the IRS Form 1098-C to see who must file. 4 / 10 Category: General Questions Question: For private mail carriers and in person donations what is the deadline date for donations in the current year? December 30th January 2nd December 29th December 31st In person and private mail carriers must have the donation physically delivered to the charity (the church) by December 31st. This is different than the USPS which the IRS is fine with using the postmarked date. 5 / 10 Category: Vehicle Donations Question: Can a donor donate an airplane or a boat to a church? Yes No The IRS Form 1098-C is what you use to for a qualified vehicle over 500.00. 6 / 10 Category: General Questions Question: The donor makes two donations of $260.00. Can the donor claim the deduction using their own bank records? Yes No As stated in the IRS publication 1771, the church must send a written acknowledgement (donor statement) to the donor for any one time contribution over $250.00. 7 / 10 Category: GIK - Or Non-cash donations Question: When donating stock to the church that you have owned for more than one year, does the church record the value on the donor's statement? No Yes According to the IRS website, non cash donations are not to have their value placed on the statement. Another resource is: IRS Publication 561. 8 / 10 Category: General Questions Question: When donations are sent via the USPS (United States Postal Service) and not a private mail carrier, what is the latest date the postmark can show to include the donation on the donors statement? January 1st December 31st January 2nd December 30th The IRS's basic rule is that the gift must be delivered to the church by December 31st. For USPS they use the postmarked date as the delivery date, whether or not the donation envelope is physically delivered to the church. 9 / 10 Category: GIK - Or Non-cash donations Question: What IRS form does the church have to fill out within 125 days, if they decide to sell or dispose of a non cash donation that is worth more than $5,000.00? IRS Form 8383 IRS From 8283 IRS Form 8282 IRS form W-3 The IRS form 8282 is to be filled out with 125 days of selling the property. The sold property has a three year limit on the reporting of it. Please review the form instructions for the 8282 to see all the requirements under the 'Who Must File' section. 10 / 10 Category: Quid Pro Quo Question: The church charges $100.00 for a fall festival dinner. The meal is valued at $30.00 and the donation is $70.00. Does the church need to provide a written acknowledgement for the $70.00 donation? Yes No This question falls under a quid pro quo donation. These are found in the IRS code section 6115. Enter your email and name then click the finish flag to see your results! We will send you fun and infrequent information. NameEmail Your score is LinkedIn Facebook VKontakte 0% Restart quiz Exit This quiz can be shared with others with the proper given attribution to the creator Icon Systems, commonly called the CC BY license.