Donations
-
 General Information
If your student organization receives donations from either alumni, other individual donors, and/or companies, contact Arcelia Rodriguez about how to:
- Accept these gifts and donations
- Thank the alumni, individual donor, or company
- Access donated products and money
A rule of thumbs to keep in mind is that it is not a donation if the individual or company contributing money or products gets something in return.
-
Types of Donations
In-kind donations are products such as food, beverages, equipment, clothing, etc. Out-right gifts are monetary such as cash, check, or credit card payments.
-
Receiving a Donation
If your organization receives a donation, you need to submit the donor's check or credit card payment to Arcelia Rodriguez, who will process the donation. The Development Office will later send the donor a "thank you" or acknowledgement letter for tax purposes.
-
Making a Donation
If your organization makes a donation, the CSL staff will assist you with sending a letter that accompanies the donation to the beneficiary.
-
Thanking a Donor
If your organization would like to formally thank a donor, your letter should not disclose the dollar amount or value of the donation. Instead, your letter should include the following statement: "For tax purposes a receipt will be mailed to you separately." The Development Office will be the one to mail this receipt.
Failure to comply with these acknowledgement guidelines may result in IRS fines for duplicate receiving and/or may result in confusion to the donor during tax-preparation time.
|
|
