This is excellent stuff, Amy. I hope you receive more input.
I have seen many protocols used in my travels. But the one I urge (when
asked for my opinion) looks like this:
- Each student club/group/activity that has, needs, or spends money
establishes their own "agency" account through the Business Office.
Advancement is NOT involved.
- Counsel validates which of these can be recognized as serving
educational purposes.
- Those so recognized can raise funds to support their activities. If
those funds meet IRS criteria for a charitable gift (not just because the
group is educational but because the gift meets all other IRS criteria),
then those funds are delivered and processed through Advancement.
- Those groups that do NOT meet the educational criteria but still want
to raise funds on their own may do so, but must clearly state that the
money raised is not deductible and the funds bypass Advancement and go
straight to the Business Office
- Any group that does NOT want to raise ANY money for themselves can
help cultivate/solicit dollars to go to a general student activities fund.
This fund works similar to a United Way and can be structured to receive
tax-deductible gifts as long as no funds are earmarked for a specific
group. Any student group can then apply to the body overseeing that fund
to receive a grant - but the award must meet the IRS criteria for serving
an educational purpose.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Wed, Mar 27, 2019 at 1:50 PM Amy Phillips <
phillipsajud@cua.edu> wrote:
> Attached is a brief summary of responses I've received thus far - scrubbed
> to be institution neutral. Certainly happy to hear more feedback -
> particularly from organizations which might be supporting a more "general
> student activities" fund with detail around which "clubs" qualify to be
> charitably supported through the institution and yet enable agency/other
> type accounts for clubs to manage support that do not qualify under the
> "charitable" operations as defined by the institution.
>
> Thanks again and have a great afternoon! -Amy
>
>
> Director of Advancement Services, Gift Acceptance
> Division of University Advancement
> The Catholic University of America
> 620 Michigan Avenue, E215 O'Connell Hall
> Washington, DC 20064
> Phone: 202-319-6919
> Email:
phillipsajud@cua.edu
>
>
>
> On Tue, Mar 26, 2019 at 3:29 PM Amy Phillips <
phillipsajud@cua.edu> wrote:
>
>> Good afternoon, Esteemed Colleagues!
>>
>> This is a last minute call for feedback or I would have put this into
>> SurveyMonkey form, but we're going to be discussing best/most
>> regulatory-compliant methods for handling support of student club
>> activities. When it comes to support for student clubs our
>> university/college:
>>
>> 1) Established agency accounts for each club which revenue is processed
>> through Finance but not received, recorded or receipted through
>> Advancement;
>>
>> 2) Established a gift account for each club which revenue is received,
>> recorded and receipted through Advancement;
>>
>> 3) Established a general student activities fund into which support for
>> institutionally approved club activities can be recorded as charitable
>> revenue with support for clubs managed through a student governing body or
>> similar;
>>
>> 4) Other (please elaborate)
>>
>> If you would like to share more specific details here (or directly to me)
>> that would be awesome or even provide a link to your own institutional
>> policy around support of student club activities would also be helpful. I'm
>> queuing this up for an early am meeting tomorrow... :-)
>>
>> Many thanks,
>>
>> Amy
>>
>> Director of Advancement Services, Gift Acceptance
>> Division of University Advancement
>> The Catholic University of America
>> 620 Michigan Avenue, E215 O'Connell Hall
>> Washington, DC 20064
>> Phone: 202-319-6919
>> Email:
phillipsajud@cua.edu
>>
>>