EAA CHAPTER 690
RECEIPT OF CHARITABLE DONATION
EAA CHAPTER 690 acknowledges and expresses appreciation for the following contribution:
Cash donation in the amount of $__________________
Donation of the following goods or personal property: __________________________________________________________________________________________
In-kind contribution of: ___________________________________________________________________________________________________________________
Donation received from: ________________________________________________
Date of Donation: _____________________
The Gwinnett Experimental Aircraft Association, Chapter 690, Inc. is a Georgia Corporation and is recognized as a 501(c)(3) not-for-profit organization by the InternalRevenue Service.
Donation Received by:________________________________ Authorized Representative
Charitable contributions to 501 (c) (3) organizations If you itemize deductions on your federal tax return, you may be entitled to claim a charitable deduction for your EAA Chapter 690 donations. According to the Internal Revenue Service (IRS), a taxpayer can deduct the fair market value of items being donated. Fair market value is the price a willing buyer would pay for them. Value usually depends on the condition of the item. By law, a charity cannot tell you what your donated items are worth. This is something you must do yourself.To assess "fair market value" for your donations:Consult a local tax advisor who should be familiar with market values in your region. Review the following tax guides available from the IRS:
Determining the Value of Donated Property —defines "fair market value" and helps donors and appraisers determine the value of property given to qualified organizations. It also explains what kind of information you must have to support the charitable contribution deduction you claim on your return. (Publication 561)
Charitable Contributions — explains which organizations are qualified to receive deductible charitable contributions, the types of contributions you can deduct, how much you can deduct, what records to keep, and how to report charitable contributions (Publication 526)Noncash Charitable Contributions — applies to deduction claims totaling more than $500 for all contributed items. If a donor is claiming over $5,000 in contribution value, there is a section labeled “Donee Acknowledgement” in Section B, Part IV of Internal Revenue Service (IRS) Form 8283 that must be completed. The form and instructions are available on the IRS site and can be accessed through this link, IRS Tax Forms. A member of the management staff must verify that the donation receipts match the completed form and fill in the date of donation/s in this section. In addition, EAA Chapter 690’s name (Gwinnett Experimental Aircraft Assoc Chapter 690 Inc), address (690 Airport Rd Hangar 1, Lawrenceville, GA 30045) and identification number (54-2065782) must be completed.IRS Links for Forms and Instructions — IRS Tax Forms Form 8283 is used to report information about noncash charitable contributions. Form 8282 is used to report information to the IRS and donors about dispositions of certain charitable deduction property made within 3 years after the donor contributed the property.
EAA Chapter 690 will be happy to provide a receipt as substantiation for your contributions in good used condition, only on the date of the donation.