Magnifying GlassGet a free trial of IconCMO now! 30 days – No credit card required. Donation Quiz To start the quiz, click the blue ‘Start’ button below. 64 Created on December 30, 2020 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: Generally speaking, how many days after a vehicle donation greater than $500.00 does the church have to furnish the donor with the IRS form 1098-C? 90 days 30 days January 31st the following year 60 days The IRS instructions for the IRS Form 1098-C states the following: "Generally, the charity must furnish this form to you no later than 30 days after the date it sold the donated vehicle (if box 4a is checked) or 30 days after the date of the contribution (if box 5a or 5b is checked)." 2 / 10 Category: General Questions Question:For private mail carriers and in person donations what is the deadline date for donations in the current year? December 29th December 30th December 31st January 2nd In person and private mail carriers must have the donation physically delivered to the charity (the church) by December 31st. This is different than the USPS which the IRS is fine with using the postmarked date. 3 / 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? Yes No According to the IRS website, non cash donations are not to have their value placed on the statement. Another resource is:IRS Publication 561. 4 / 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? No Yes According to the IRS website donations that equal $250.00 or more need an written acknowledgement. 5 / 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? IRS Form 1098-C IRS Form 8383 IRS Form 8282 IRS form W-3 Please review the IRS instructions for the IRS Form 1098-C to see who must file. 6 / 10 Category: GIK - Or Non-cash donations Question:For gift in kind donations (ie non cash donations) should the value of the gift of kind donation be found on the donor's statement? No Yes According to IRS publication 1771, the value is never placed on the donor's statement - ie the written acknowledgment. This is the instructions about the information that should be on the donor's statement.1. the name of organization2. the amount of cash contribution,3. a description (but not the value) of non-cash contribution,4. a statement that no goods or services were provided by the organization in return for thecontribution, if that was the case,5. a description and good faith estimate of the value of goods or services, if any, that anorganization provided in return for the contribution,6. a statement that goods or services, if any, that an organization provided in return for the contribution consisted entirely of intangible religious benefits, if that was the case. 7 / 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? Yes No This question falls under a quid pro quo donation. These are found in the IRS code section 6115. 8 / 10 Category: General Questions Question:When donations are sent via the USPS (United States Postal Service) and not a private mail carrier, what is the latest date the postmark can show to include the donation on the donors statement? December 31st January 2nd January 1st December 30th The IRS's basic rule is that the gift must be delivered to the church by December 31st. For USPS they use the postmarked date as the delivery date, whether or not the donation envelope is physically delivered to the church. According to the IRS website a written acknowledgement is needed for a contribution over $250.00. The exact wording is "A donor claiming a deduction of $250 or more is also required to obtain and keep a contemporaneous written acknowledgment for a charitable contribution ." For a single donation under $250.00 the donor can provide their own records to prove the donation -- ie like bank records, credit card receipts. Or the church can provide the written acknowledgement but they are not mandatory to do so. Keep in mind if there are multiple donations that total to $250.00 or more, then the church must do a written acknowledgement of all the donations and the dates of them. 9 / 10 Category: General Questions Question:Does the church have to provide a written acknowledgement for a single donation under $250.00? No Yes 10 / 10 Category: Vehicle Donations Question: Can a donor donate an airplane or a boat to a church? Yes No The IRS Form 1098-C is what you use to for a qualified vehicle over 500.00. Enter your email and name then click the finish flag to see your results!We will send you fun and infrequent information. NameEmail Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Exit This quiz can be shared with others with the proper given attribution to the creator Icon Systems, commonly called the CC BY license.