Finance/ Fundraising 101 Gayle Norris Julie Wente Steph Pravecek

Overview of Presentation Accounting System Fundraising Events Highlights to become a gold standard chapter

Accounting System All chapters must be incorporated When your RFP (Request for Program) has been approved, we will have our attorney start your incorporation process. Legal documents will be emailed to the person designated as the contact. Once documents have been signed and returned to our office, you may open a checking or savings.

Accounting System Maintain a checking or savings account at Union Bank & Trust, Pinnacle Bank, Great Western Bank, Cornerstone or US Bank. Open the chapter account at one of the above preferred banks using your assigned tax identification number provided in the legal documents (EIN) Sarah Waldman, Executive Director, needs to be a signer on account Bank account reconciled monthly and you will be provided the financials

Accounting System Deposit donations for your chapter into your checking account and forward a copy of the check to Gayle Norris at the Central Office gnorris@teammates.org

Accounting System Blank checks for checking accounts are held at the Central Office to reimburse the state for bills paid on your behalf (Background check fee and participation fee) If the coordinator needs to be reimbursed for a purchase, as the Treasurer you can write a check to the Coordinator to reimburse them. Invoices/Expenses should be paid by your chapter

Accounting System Chapters with investments such as CD’s need to use a your assigned tax identification number (EIN) NO SCHOOL ACTIVITY ACCOUNTS ALLOWED-any school activity accounts need to be moved to a checking or savings account Accounting Department 402-841-8334 (Julie) call with any questions or 402-305-1410 (Steph)

FUNDRAISING

The Development Cycle IDENTIFY PROSPECT Provide STEWARDSHIP SHARE your DONOR RECOGNITION SHARE your TeamMates Story/ Case for Support LEARN about the donor CULTIVATE & engage SOLICITATION: Ask for a specific amount based on research and donor’s ability.

What do Donors Support? Operating Expenses Events/Sponsorships Scholarships Specific programs Endowments Special needs of the organization – one-time costs, supplies, special purchases Donors are individuals, foundations, corporations

Concession Stands Candy Machines Bake Sale School Dance Football Raffle Ice Cream Social Pancake Breakfast Business Opening Stadium Seats Split -the-Pot Coffee Sales Gift Wrapping Coin Challenge Restaurant Night Handouts

Give Days Many local community foundations and United Ways are now sponsoring Give Days. Chapters usually receive matching funds for donations made on a certain day. More marketing = more funds for your chapter!

Stewardship and Recognition STEWARDSHIP: process of caring for and protecting your philanthropic support – gifts and donors who give them in a way that responds to the donor’s expectations and respects the act of giving Donors want to feel appreciated Always say thank you in a timely manner Stewardship is the key to getting the second and subsequent gifts. Stewardship creates loyalty. Helps donors feel good about giving

Planning a Special Event Invite your guests! 6-8 weeks for formal events 4 weeks for informal events Confirm Attendees & Train Volunteers Get a Committee together 60 90 30 Set a date for the event. Must have insurance approval! 45 Set a PR Plan Initial Press Release Pre-event Promotion Print Materials Post Event Press Release Set your Safety Plan Sample safety plan in Walk Handbook 10 80 Wrap-Up -Post-event press release - Thank You Notes -Report to Central Office - Attendee/Volunteer feedback

TeamMates Special Events Guide Special event dates must be submitted to the TeamMates Central Office by March of each year via Excel document. Any events that arise after March 1 need to be submitted 90 days in advance via Special Events Request Form. No event is approved until you have received written permission from TeamMates Central Office. Pass out Dos and Don’ts. Discuss guide and submission form. Survey Monkey prior to April 1.

Gross proceeds may not exceed $5,000 (# of tickets x ticket price) Raffles: Gross proceeds may not exceed $5,000 (# of tickets x ticket price) Cannot apply discounts (6 tickets for $5) when determining the gross proceeds Must sell at least ten tickets At least 80% of the prizes must be merchandise

Auctions Involve Sales Tax TeamMates needs to collect sales tax as we are acting as a retailer Item is sold at above fair market value (FMV), sales tax is only collected on the FMV Gift certificates are not subject to sales tax The sales tax is included in the amount paid for the item The amount paid above the FMV is a contribution Example: $30 item sells for $45 $30 x .07 = $2 sales tax paid to State of Nebraska Donation amount is $13 *Chapter is responsible for sales tax, central office files return monthly

Sales and Use Tax TeamMates is a 501(c)(3) We are NOT exempt from sales tax We must pay sales tax on all purchases Invoices not including sales tax must have sales tax added If a purchase is made through an exempt organization (such as a school), Use tax must be paid to the state of Nebraska Chapter is responsible for Sales and Use tax Central office files return monthly

Stewardship and Recognition RECOGNITION: the final step in the development process, recognizing the support of the donor in a public or private way, depending on the desires and wishes of the donor. Notify TeamMates Central Office of all gifts received. Tax Acknowledgement letter sent through Central Office Recognized in TeamMates Annual Report Send note of thanks from local chapter – NO Tax Statement Provide naming opportunities – John Doe Memorial Walk Susie Smith Chapter Scholarship Recognize sponsors on t-shirts, print materials, in local papers during public programs. Spell and list names correctly!

Be a Gold Standard chapter

Bank at one of the 5 preferred bank Report any bank transactions and turn donations in a timely manner to the Central Office Stay up to date with transitions

Ensure your chapter is well funded at all times Ensure that all events throughout the year have been turned into the Central Office so they are included on the insurance policy ASK QUESTIONS

People to know CFO Administrative Assistant Julie Wente jwente@teammates.org 402-841-8334 Administrative Assistant Galye Norris gnorris@teammates.org 402-323-6252 Events Coordinator & Accounting Steph Pravecek spravecek@teammates.org 402-305-1410