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Donation Quiz

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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: Vehicle Donations

Question:

Does the church or donor provide the claimed value of the vehicle, boat, or airplane over $500.00?

 

2 / 10

Category: GIK - Or Non-cash donations

Question:

For gift in kind (non-cash) donations under $5,000.00, who determines the fair market value of the donation(s)? 

3 / 10

Category: GIK - Or Non-cash donations

Question:

For gift in kind (non-cash) donations that are equal to or over $5,000.00, who determines the fair market value of the donation(s)? 

4 / 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? 

5 / 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?

6 / 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? 

7 / 10

Category: General Questions

Question:

The donor's total donations for the year are $550.50, does the church have to provide a written acknowledgement to the donor?

8 / 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? 

9 / 10

Category: Volunteer Time and Service

Question:

Can volunteers claim a tax deduction for their time and services provided to the church?

10 / 10

Category: General Questions

Question:

The donor makes two donations of $260.00. Can the donor claim the deduction using their own bank records?

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