Giving Statements

It's that time of year again - giving statement season! If you're worried about getting statements out in time for the January 31st deadline, don't worry - Overflow's improved Statements feature allows you to effortlessly steward your donor's generosity and get them the documentation they need in time for tax season.

A Giving Statement is an IRS-compliant report for donors that consolidates their giving history. It's an essential tool for:

• Tax Documentation: Providing accurate records for donors' tax deductions.
• Stewardship and Engagement: Facilitating regular communication with donors about their contributions.

Check out Overflow's Statements feature highlights in this quick video:

Accessing and Generating Annual Tax Statements

1. Log in to Overflow Dashboard
   1. Open your web browser and navigate to the Overflow website
   2. Enter your credentials to log in to your account
   3. Once logged in, you'll be directed to the main dashboard
2. Navigate to Statements Section
   1. Look for the main menu on the dashboard
   2. Click on "More" to expand additional options
   3. Select "Statements" from the dropdown menu
3. Initiate Statement Generation
   1. At the top of the Statements page, locate the card announcing "2024 Statements are Ready"
   2. Click the "Generate 2024 Statements" button on this card
4. Review and Accept Disclaimer
   1. Carefully read the presented disclaimer
   2. If you agree with the terms, check the box to proceed
5. Customize Statement Batch
   1. Batch Name: Enter a unique, descriptive name for this set of statements
   2. Date Range: Verify the date range for included donations (typically Jan 1 - Dec 31 of the previous year)
   3. Cover Letter: Optionally, add a personalized cover letter to accompany the statements
      1. This can include a message of gratitude, organization updates, or important information for donors
6. Generate Statements
   1. After customizing the batch settings, click the "Generate Statements" button
   2. The system will process your request, which may take a few minutes depending on the number of statements
7. Review Generated Statements
   1. Once processing is complete, the status is shown as “Ready”
   2. Review a sample statement to ensure all information is correct and formatted properly

Distributing Annual Tax Statements

1. Choose Distribution Method
   1. Option A: Send Through Overflow
      1. Select "Send All Through Overflow" if you want to use the platform's built-in distribution system
      2. Review and confirm the list of recipients. You can select all by checking the box near “Donor”
      3. Navigate to the green button “Actions.” Select “Send All” or “Send Selected”
      4. Confirm this action in the pop up screen that appears
   2. Option B: Download for Offline Distribution
      1. If you prefer to handle distribution yourself, review and confirm the list of recipients
      2. Navigate to the green button “Actions.” Select “Download All” or “Download Selected”
      3. Confirm this action in the pop up screen that appears
      4. Save the downloaded file to your computer
2. Track Distribution Status
   1. For statements sent through Overflow, monitor the delivery status in the dashboard
   2. For offline distribution, maintain your own records of sent statements
3. Handle Exceptions
   1. Address any bounced emails or undeliverable statements
   2. Be prepared to resend or provide alternative delivery methods for donors who didn't receive their statements

By following these detailed steps, you can efficiently generate and distribute Annual Tax Statements using the Overflow platform, ensuring your donors receive accurate and timely information for their tax reporting needs.

 

How do I use this for Stewardship?

You can now send statements to donors at any point during the year! So, for example, if you'd like to encourage donors to submit their giving for a match from their employer before the end of the year, you can send a statement to them in November for the last 11 months so they know how much they can submit for that match.

1. Access the Overflow Dashboard: Log in to your Overflow dashboard and navigate to the Statements section
2. Click the green “Generate Statements” button
3. Accept the disclaimer
4. Customize: Add a name for the batch so you remember the purpose of this grouping of statements
5. Select Date Range: Choose the period for which you want to generate the statement
6. Generate
7. Distribute: Send these giving statements directly to donors via email from Overflow or download for offline distribution

FAQs & Important Notes

What types of assets are included in the Giving Statements?

All of our online cash (Credit/debit card, ACH, Checks, Cash, Virtual Terminal) and non-cash (Stock, Crypto) giving

Are there any assets that aren’t included in the Giving Statements?

Gifts made via donor-advised funds (DAFs) are not included since they are non-deductible gifts and acknowledged directly with the DAF institution

How often can I generate Giving Statements?

You can generate them as needed - there’s no limit on frequency

Can I re-generate a statement for a particular period?

Yes, you can re-generate statements at anytime. The 'last updated' feature will indicate the most recent generation. This allows you to resend statements to donors if they lost theirs! 

Should I check the box for "Include Imported Contributions"? 

If you migrated your credit/debit/ACH giving from another payment processor to Overflow during the calendar year for which you are generating statements, then you will have the option to include the manually imported contributions from your old processor in your donors' statements. If you don't want to include historical donations from your previous provider, simply leave this box unchecked.

What timezone will contributions be listed in within my statements?

Contributions will display in the timezone of the user that created the giving statements batch. So, if you are in East Coast time but your colleague generated the batch of statements and they are in Central Time, your statements will be in EST and donation dates may be a day off from what you see in your Dashboard (which displays your current timezone - in this case, CT).