IDA Fiscal Sponsorship Handbook 2011/2012 - International ...

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IDAFiscalSponsorshipHandbook 2011/2012which allows us to offer filmmakers lower rates for IndieGoGo fundraisingcampaigns when they are set up through IDA! We ask fiscal sponsorship membersto contact our office for a consultation if you are interested in working withIndieGoGo. You will not be able to offer donors a tax deduction if they contributevia your IndieGoGo campaign unless you go through the proper steps. Call us!Cash Donations:We are unable to accept donation in cash or coin. If you are holding an event and wouldlike to accept tax-deductible donations on site, please notify participants in advance thatthey will need to bring a checkbook, or make arrangements to accept credit cards onsite.Wire Transfer Donations:For donations of $5,000 and up, wire transfers directly to our fiscal sponsorship accountare a fast and convenient way to get access to donated funds in an urgent situation andavoid any wait time associated with mailing checks and waiting for them to clear. It isvery important that you contact us if you have a donor planning to transfer funds. We willneed the following information at the time the transfer is made:• Name of donor• Project title• Approximate date transfer will be made• Amount of donation (min $5,000 donation)• Email address or full mailing address where we can send a receiptDonors will need the following information to make a transfer to our account:• Bank: Wells Fargo• Account Name: International Documentary Association• Account #: 0645009432• ABA Routing #: 121-000-248Stock Donations:We are also able to accept donations of stock through our brokerage account. In manycases stock donations offer donors a double tax benefit, giving them both a charitablededuction and allowing them to avoid tax on any appreciation in value of the donatedstock, making it an attractive option for some donors. Stock donations are limited to giftsvalued at $5,000 and up at the time of donation.Donors will need the following information to make a gift of stock to IDA in behalf of yourproject:• Account Name: International Documentary• Wells Fargo Investments (WellsTrade)• Address: 625 Marquette Ave. Minneapolis, MN 55402• Phone#: 800-872-3377• DTC# ( 4 digits) : 0141• Account #: W81872839FSPHANDBOOK–12/20/201112
IDAFiscalSponsorshipHandbook 2011/2012Itʼs extremely important that you notify our office as soon as possible if a donor will betransferring stock. We will need to make arrangements in advance to facilitate the saleand transfer of funds in a timely manner. Please provide the following information at thetime of a transfer:• Name of donor• Donorʼs phone or email address• Donorʼs full mailing address• Amount of donation• Date of donationWhile we will do our best to sell and transfer the stock as quickly as possible, due to thesometimes unpredictability of the stock market we cannot guarantee that the donationwill not lose any value between the time that it is donated and the time it is sold and thefunds credited to your project. It is also possible for a stock to gain value. In that case,any increase in value will be credited to the project.Matching Gifts:We can process and accept matching gifts from businesses when a donor has made aneligible donation. Each company has their own rules and procedures for processingthese donations. Employees or businesses that would like to make eligible gifts shouldcontact the appropriate person at their place of employment for details on how toproceed. After a matching gift has been initiated, please let us know that a matchingdonation will be arriving and ask the company to reference the project title if possiblesomewhere on the check or accompanying letter. Some companies can take up toseveral months to process matching gift donations.Partially Deductible Donations:A partially deductible or quid pro quo contribution is a payment made to a charity by adonor partly as a contribution and partly for goods or services provided to the donor.Quid pro quo donations made to IDA are partially tax-deductible. For example, if a donorgives IDA $100 and receives an event ticket valued at $40 in return, the donor has madea partially deductible contribution. In this example, the charitable contribution/deductibleportion of the payment is $60. In order to comply with IRS regulations about thesepartially deductible contributions we must:1. Inform the donor that the amount of the contribution that is deductible for federalincome tax purposes is limited to the excess of the value of any goods orservices received.2. Provide the donor with a good faith estimate of the value of the goods or servicesthat the donor received.So what does this mean for you? If you plan to hold any event or conduct anyfundraising campaign where donors will be given anything of value in return for acontribution, including dinner, drinks, movie tickets, DVDʼs, T-shirts or any other goodsor services (even if those goods or services were donated to you at no cost!) you mustnotify our office of the arrangement before sending out invitations or solicitations so wecan arrange to handle notification and receipts properly. Our office must approve allFSPHANDBOOK–12/20/201113
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