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Need some advice about donations


BizzyBs
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I was asked to donate a prize to a local gala. The prizes will be raffled off and the proceeds put into a scholarship fund. I have agreed, but am now thinking...is there something I should get in writing (like a receipt/contract) for the donation?

I consider this to be great advertising, but do I leagally need something in writing?

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You might have a receipt already made up that states the organization's name, the purpose of the fundraiser, the date, the value of the giftbasket, and then have the recipient sign the form.

Many people who go around asking for donations never consider the tax issues involved for you, and don't offer to supply anything for you (ususally, not even as much as a thank you note). I had one lady who asked for a donation, I gave her one, and she said she would bring me a receipt. Guess what...I never got one. I learned from that incident.

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