Your organization just found out it will receive a donation of new laptops for the office. Do you know what type of information to include in an acknowledgment? A board member just found out that the parking and meals he has been paying for on the nonprofit’s time may be deductible. What type of information should be on his tax receipt? Can he take a tax deduction for an in-kind donation? Tax deductions for in-kind donations can be a tricky area of nonprofit tax law to navigate. Let’s walk through a few examples to highlight when donors can (and cannot) take a tax deduction.

Generally, a donor may deduct an in-kind (or, non-cash) donation as a charitable contribution. And a donor must obtain a written acknowledgment from the charity to substantiate the gift, although the acknowledgment will generally not assign a dollar value to the donation.

Not only are the written acknowledgment requirements complex, especially for non-cash donations, but noncompliance can be costly (generally $10 per contribution).

United Way of Central Indiana announced 24 finalists for the ELEVATE awards, an annual event recognizing the region’s top young philanthropists ages 21 to 40. Their work addresses economic mobility, mental health awareness, equitable access to health care and healthy food, and diversity, equity and inclusion. See recipients

Indy Reads announced that Lilly Endowment Inc. has awarded the organization $50,000. Indy Reads will use this funding to evaluate its existing academic programs, ensuring they meet the needs of adult learners and align with the organization’s mission, vision, and values.

City-County Councilor Jefferson Shreve and his wife, Mary, made a $100k donation to Friends of Indy Animals and $10,000 to five additional Indianapolis animal welfare nonprofits.

Free Press Indiana, one of the nation’s largest nonprofit news startups, launched Mirror Indy, a diverse, locally rooted newsroom that will have 20 staff members providing Indianapolis with the community-centered news residents say they want most.

Hunger & Health: Moving the needle in the fight against hunger. This is an edited version of a conversation that took place at the annual Hunger and Health event. Panelists include: Fred Payne, president and CEO at UWCI, Dr. David Hampton, executive director at LISC Indianapolis, Theresa Patterson, executive director at Gennesaret Free Clinics, and Dan Griffith, volunteer at Indy Hunger Network. Watch here

Indianapolis Business Journal is accepting applications for 40 under 40. Nominate professional leaders who have achieved a level of success that is rare at a young age. Nominate by Jan. 12.

Beacon of Hope Crisis Center needs an accounting volunteer or intern. Ongoing commitment of 6 hours one day per week. Learn more

Indiana University Lilly School of Philanthropy - New research examines differences in charitable giving trends among communities of color.

Barnes Dennig - What’s on your fractional CFO qualifications checklist?

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