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.)
State Charitable Solicitation Statutes: Everything You Wanted to Know But Were Afraid to Ask
Charities that seek contributions nationally must typically register in 39 states and the District of Columbia before starting to solicit. Furthermore, for-profit fundraisers are also required to register and file their contracts and other documentation with many states. Since many states are increasing their enforcement efforts to ensure that charities and fundraisers are complying with initial and annual registration requirements, it's important that charities and fundraisers abide by these statutes.
Program materials include an extensive review of the statutes and their provisions, plus a copy of the Uniform Registration Statement for multi-state filings. Purchasers will receive an e-mail receipt that includes a link that will take them to the product download. The download is a pdf file. Learn More
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