1. HOW DO DONATION RECEIPTS WORK?

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theExchange is a 501 (c)(3) nonprofit organization under Shelter Development.

Donors may claim a tax deduction for items donated to theExchange.

When and where can I get a donation receipt?

• Download theExchange Item Donation Receipt

• General receipts are available at theExchange warehouse dock doors and in the front entrance area.

• theExchange does not provide values ($) for donations it receives. The IRS requires that the donor estimate the fair market value of donated items.

• If the item or items together are valued at $500 or more, please email theExchange or get the receipt signed before leaving.

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2. WHAT IS THE VALUE OF DONATED ITEMS?

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Donations generally fall into two categories:

• Item(s) are valued at less than $500 (download receipt or pick up at theExchange when delivering items)

• Item(s) valued at more than $500. (request signed receipt at time of delivery of items or email the request to us.

theExchange provides acknowledgement of receiving the items, but per IRS nonprofit standards, theExchange does not assess the value (or “fair market value”) of the item or items.

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3. DETERMINE THE "FAIR MARKET VALUE" OF DONATED ITEMS

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While there is no specific formula for determining the fair market value for an item you donate to theExchange, a good rule of thumb is to consider the “selling price” of the item. The IRS defines fair market value as what a consumer would willingly pay for an item if neither the seller nor the buyer was under any duress to make the sale.

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4. DEDUCTION OF CERTAIN ITEMS VALUED AT MORE THAN $500

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In compliance with IRS Standards, theExchange will send a signed receipt for your donation or you can ask for a signed receipt at time of donation

To obtain this signed receipt, please email your request to theexchange@shelterdevelopment.org 

The request should include:

• Name

• mailing address

• email address

• date of your donation

• description of the items you donated.

Please note, per IRS requirements, theExchange's large item pickup fee does not qualify for a tax reimbursement, it is a fee for services and covers fuel, insurance and maintenance expenses.

theExchange does not provide legal or tax advice. For more information on assessing value on donated items, or if you have specific questions about a donated item, please contact your tax preparer, or visit IRS.Gov for more detailed valuation information.

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