What Formal Document Identifies the Mutual Understandings of the Donor

question 23

Multiple Choice

What formal document identifies the mutual understandings of the donor and the organization?

• A) gift agreement
• B) donor statement
• C) gift standards charter
• D) bequest notifications

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Definitions:

Medicare Tax

Medicare Tax is a federal payroll tax used to fund the Medicare program, which provides health insurance for eligible elderly and disabled individuals.

Social Security Tax

Social Security Tax is a tax levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits.

Medicare Tax

A federal tax deducted from an individual’s earnings to fund the Medicare program, typically as part of payroll taxes.

Time And A Half

The rate of pay that is 1.5 times the employee's regular hourly rate, often paid for overtime work.