Donations and Gifts Process
The chapter designated volunteer or office administrator must send a letter acknowledging any donation of $250 or more within 30 days of receipt of the donation. The Form 15, Acknowledgement of Receipt of Gift to SCORE template. Chapters must provide a copy of the Form 15 acknowledgement, to all donors of $75 or more. This is an IRS requirement, please see their website for more information: https://www.irs.gov/charities-non-profits/substantiating-charitable-contributions.
Note: Donations to the SCORE Foundation for a chapter are sent Form 15s by the SCORE Foundation.
All contracts including donor or grant applications need to be reviewed by SCORE HQ VP-Finance. Chapters should notify the SCORE HQ Vice President of Field Operations and their District Director before soliciting or accepting a gift of funds in excess of $10,000 from any one contributor in one year.
Chapters may accept assistance such as a donated service, office or meeting space, or goods from third-party organizations. This is called an In-Kind Donation. Any In-Kind donation of $1,000 or more for the year must be reported to the SCORE HQ Controller to be recognized in the financials. Please see section See In-Kind Section of the Allowable Sources of Income.