By law, what does a charity have to do if it receives a donated car and proceeds to sell it?
Under the provisions of the American Jobs Creation Act of 2004, in general, unless the charity materially improves the car or uses it in its own program, the charity is now required to notify donors of the amount of gross proceeds of the sale of the vehicle if the donor wants to claim a deduction of more than $500. (See Nonprofit Issues®, October 16-31, 2004.)
Charity fundraising event planners have to worry not only about the invitation list, the menu and the program. They also have to worry about a host of legal issues that, if ignored, could turn the event into a financial and public relations disaster. This webinar will explore the top ten areas of legal concern for a charity’s annual gala dinner dance, bikathon, day in the park, or other special fundraising event. Learn more in our pre-recorded webinar.
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