GreekChat.com Forums  

Go Back   GreekChat.com Forums > Fundraising


Register Now for FREE!
Join GreekChat.com, The Fraternity & Sorority Greek Chat Network. To sign up for your FREE account INSTANTLY fill out the form below!

Username: Password: Confirm Password: E-Mail: Confirm E-Mail:
 
Image Verification
Please enter the six letters or digits that appear in the image opposite.

  I agree to forum rules 

» GC Stats
Members: 299,019
Threads: 114,184
Posts: 2,151,066
Welcome to our newest member, gfhjgjhkjh
Reply
 
Thread Tools Display Modes
  #1  
Old 01-03-2014, 11:46 AM
tauchick96 tauchick96 is offline
GreekChat Member
 
Join Date: Dec 2013
Posts: 3
Talking alumni fundraising

Hello Fellow Greeks,

Here in hopes of some new fundraising ideas. I'm actually an alum, and we've just started organizing fundraising committees for our philanthropy and other organizations we love. Because of the distance that a lot of us live from each other, things like bake sales, car washes etc....don't always turn out so well. Has anyone had an event where distance wasn't a major factor and participation and results were good?

Right now I'm heading up the American Cancer Society group and also The Humane Society. A lot of us participate in local walks, but we were told the ACS is no longer doing Daffodil Days?!

Thanks for any ideas and hope everyone is enjoying the New Year!
Reply With Quote
  #2  
Old 01-06-2014, 09:57 PM
Kevin Kevin is offline
Super Moderator
 
Join Date: Feb 2002
Location: Oklahoma City, Oklahoma
Posts: 18,050
Have you set up a 501(c)(3) foundation? It can really help you land larger donations if they're tax deductible.
__________________
SN -SINCE 1869-
"EXCELLING WITH HONOR"
S N E T T
Mu Tau 5, Central Oklahoma
Reply With Quote
  #3  
Old 01-10-2014, 08:14 PM
tauchick96 tauchick96 is offline
GreekChat Member
 
Join Date: Dec 2013
Posts: 3
No, sounds like I should pass that idea along though. Thanks.
Reply With Quote
  #4  
Old 01-10-2014, 08:52 PM
Kevin Kevin is offline
Super Moderator
 
Join Date: Feb 2002
Location: Oklahoma City, Oklahoma
Posts: 18,050
A pretty ideal structure would be to have your alumni association go ahead and incorporate as a not-for-profit, probably a 501(c)(10), have a separate house corporation with a similar tax status to that. If your active chapter is part of a national organization, they'll fall under that umbrella. You'd then found a 501(c)(3) foundation for tax deductible giving.

The difference between the (c)(10) and the (c)(3) is that donations to the (c)(3) are tax deducitble whereas with the (c)(10), they are not.

The (c)(3) will have a restricted purpose for its spending, the (c)(10) can do mostly what it wants (consult a legal and/or tax professional before you do any of this, I would strongly recommend going ahead and spending the money to have your first fund raiser pay for an attorney to set all of this up for you).

One thing you should ask them about is using the (c)(3) to raise money for a house. Your (c)(3) could actually loan your house corporation money to build a house and directly fund the parts of the house, e.g., study rooms, but the interest rate and loan would have to be similar to something you'd do in an arm's length transaction.

Again, this is all very general information, but enough to get you started on knowing a little something when you do finally retain a professional. Do NOT attempt to do this on your own as it will likely lead to a lot of disappointment and frustration. Also, do not start getting EINs and bank accounts and moving any money around until the IRS has signed off on everything. Getting approved for a 501(c)(3) which has already been in operation and not paying taxes is much more difficult.
__________________
SN -SINCE 1869-
"EXCELLING WITH HONOR"
S N E T T
Mu Tau 5, Central Oklahoma
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Moe's fundraising JovyDSP Fundraising 1 02-21-2008 01:57 AM
fundraising quillogold Alpha Xi Delta 5 07-13-2006 02:58 AM
Hello high school alumni and/or college alumni prettyinpink Cool Sites 2 08-16-2000 05:04 AM



All times are GMT -4. The time now is 03:42 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.