Charitable Contributions

Rules on recordkeeping for charitable contributions

CFC will provide a qualified acknowledgement of each contribution of $250 or more which enables you to claim such contributions as deductions with no other record keeping on your part needed. This will be mailed out yearly by January 15. Quarterly statements will not be sent out unless you specifically request that from the bookkeeper. CFC does not account for individual donations less than $250. Therefore, in order for you to deduct a charitable cash contribution to CFC that is less than $250 you must have a bank record (such as a canceled check or a bank statement containing the name of CFC, the date and the amount of the contribution; at many banks you can print a copy of the front/back of the check after it clears). Personal bank records for donations less than $250 are no longer sufficient under the new rules. Furthermore, it is unacceptable to the IRS (if you are audited) if you give a contribution and have the name of a person/missionary on the memo line. Therefore, if you choose to give to a missionary (regardless of the amount), please attach a separate sheet of paper with your check and place both in the envelope in the offering plate in order to ensure proper designation of your gift. For more information, see the irs.gov Publication 526.