Nonprofit Blog

The latest finance, accounting, tax, audit and software news uniquely tailored for the nonprofit industry – private schools, foundations, museums, animal/environmental/social welfare, and church or faith-based organizations. Follow for the latest nonprofit trends, rule changes, best practices and free educational offerings.

Wednesday, November 13, 2019

Determining Annual Dues Deductibility for Memberships

When members purchase annual memberships, it can be difficult to determine what portion of the membership dues may be deductible as charitable contributions. However, it is your organization’s responsibility to determine the approximate fair market value (FMV) the donor receives in exchange for their membership purchase and to notify the donor of the amount. The …