Deputized Fundraising and Restricted Donations…Tax and Accounting Implications
Details: September 28, 2023, 03:45 PM - 05:00:00 PM ET
Workshop Track: Industry
Primary Audience: Finance Leaders and Staff, Operational Leaders, Executive Pastors
We will address various tax and accounting issues associated with practices of deputized fundraising, receiving restricted donations, and designating net assets. With limited authoritative guidance, these areas can be tricky to navigate. We will discuss practical and safe considerations that can simplify and streamline the process of handling these critical elements of financial operations.
Participants will:
• Reinforce their understanding of compliance issues surrounding deputized fundraising,
• Attain a better understanding of IRS rules surrounding restricted giving, and
• Improve their understanding of accounting and financial statement treatment of funds held to support missionaries and other workers.
