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  • 1.  Receipting Donations

    Posted 10-02-2023 05:13 PM

    Hi,

    We have a parent who set up a Venmo account to help support a particular project. We were unaware of this until we found it on social media. Are we allowed to receipt donors who gave to this Venmo account if the owner of the account gives us the donations and a list of the donors who gave, along with the amount each gave? Thanks



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    Stacy Robinson
    University of Northern Iowa Advancement
    stacy.robinson@uni.edu
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  • 2.  RE: Receipting Donations

    Posted 10-02-2023 06:03 PM
    You will need to turn this over to Counsel and your CFO. The only way I am aware of to do this legally is for the University to designate the individual as your agent. But the fact they used a personal account could be problematic. I know of one institution where Counsel required the individual to reverse all of the transactions.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard





  • 3.  RE: Receipting Donations

    Posted 10-23-2023 01:46 PM

    @John Taylor It was brought to my attention today that our student organizations have been directed to have their own bank accounts for fundraising - unaffiliated with Albion College, which is making my skin crawl. I came across this post, and thought I would drop this here to hear your thoughts. We are not currently reciepting them, but my argument is that we do not have a total picture of "fundraising" as an institution, and there is no governance on those funds. Looking forward to your thoughts!



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    Quinn Phillips
    Albion College
    qphillips@albion.edu
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    Original Message


  • 4.  RE: Receipting Donations

    Posted 10-23-2023 02:03 PM
    The request you have seen is quite common, as most student organizations cannot conduct independent fundraising activities that qualify as tax deductible. Many organizations require those organizations to maintain independent checking accounts. However, some institutions will permit the use of an institutional agency account.

    CASE does not allow us to count these donations, which are not typically significant. Therefore, not having your "eyes" on them should not be that big of a problem. However, as far as the accountability aspect is concerned, your CFO best addresses this.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987





    Original Message


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