FUNDRAISING, PHILANTHROPY, SCHOLARSHIPS THE RIGHT WAY

Transcription

1 FUNDRAISING, PHILANTHROPY, SCHOLARSHIPS THE RIGHT WAY

2 WHAT WE WILL COVER What s the Difference - 501c3 and 501c4 Principles in Fundraising Giving the Jack and Jill Way Risk Management: Behaviors that put us at risk Our Foundation

3 WHAT S THE DIFFERENCE 501c3 vs. 501c4

4 501(C)3 VS. 501(C)4 Jack and Jill of America, Inc. is a 501c4 organization. It is officially classified as a social welfare organization While Jack and Jill of America has a public thrust, our organization s focus is our members and their families. Thus, it is a tax-exempt organization but NOT a charitable organization. Contributions of money or property to Incorporated and its chapters do NOT constitute charitable tax deductions Jack and Jill of America Foundation is a 501c3 organization and qualifies as a tax-exempt and charitable organization. Able to receive tax-deductible charitable contributions. 501c4 organizations can only fundraise on behalf of the Foundation or other 501c3 organizations

5 TAX DEDUCTIBLE YES Checks made payable to Jack and Jill of America Foundation Deposits made in a separate checking account in the name of Jack and Jill of America Foundation Chapters do NOT have Foundation accounts Expenses paid from the Foundation account Benefit of Jack and Jill of America Foundation Part of ticket purchased that go directly to 501c3 organizations. It MUST be advertised on the tickets NO Checks made payable to the chapter Disbursements made from the chapter accounts Deposits made to the chapter accounts Funds raised in the chapter s name and placed in a fundraising account which has not been advertised on the invitations, tickets, and/or publicity

6 WHAT DOES THAT MEAN FOR INC. AND FOUNDATION? INC Cannot solicit for public donations Sponsorships are NOT tax deductible Programming partnerships are acceptable, but they are considered marketing and therefore not tax deductible Foundation May solicit from public for donations Sponsorships ARE tax deductible Programming partnerships may be tax deductible

7 PRINCIPLES IN FUNDRAISING

8 WHY DO WE FUNDRAISE? Part of the Jack and Jill Brand By mission and design, we are providing our children leadership development, lessons and experiences in philanthropy We hold fundraisers to benefit the community Members of Jack and Jill are not the community Children of Jack and Jill are not the community

9 PLANNING FOR FUNDRAISERS Start Planning Early!!! Events requiring hotel banquet services allow you to leverage room rental with F&B (Food & Beverage) Food & Beverage $$ are your negotiating tool If your event requires hotel room space for a guest speaker, that can be negotiated Consider using PayPal for credit card payment Use multiple revenue streams Remember that contracts require two signatures: Chapter President and Treasurer

10 FUNDRAISING EVENT OR PARTY? General Rule: target 60-75% of revenue for charitable donation

11 GIVING THE JACK AND JILL WAY

12 PHILANTHROPY Philanthropy etymologically means "love of humanity" in the sense of caring for, nourishing, developing, and enhancing "what it is to be human" on both the benefactors' (by identifying and exercising their values in giving and volunteering) and beneficiaries' (by benefitting) parts. The most conventional modern definition is "private initiatives, for public good, focusing on quality of life"

13 WHO GIVES? WHY? Individuals are the largest source of funding for nonprofit organizations. Individuals give because of a personal connection. Corporations give in order to get...exposure, publicity, community respect, market share. Their funding is more episodic, revolving around particular campaigns, events, and projects. Corporate funding can be a good source of support for new initiatives, special programs, and special events. Seek support from a variety of sources. 13

14 SCHOLARSHIPS Let s Discuss

15 RISK MANAGEMENT Protecting our Brand

16 THE OFFICIAL POSITION Funds raised in the name of Jack and Jill of America Inc. can only be used to pay for fundraising expenses and profit distribution of 1/3 National Foundation and 2/3 to IRS approved charities. Violations can jeopardize the tax exempt status of the organization and lead to suspension of a chapter It is impossible for our nonprofit fundraising efforts to $$$ benefit mothers or our children and still meet the standard for who we say we are Deviations from our stated mission and purpose jeopardize our 501c4 status

17 PROTECTING OUR BRAND We ALL own the responsibility to protect our brand

18 CHAPTER ROLES & RESPONSIBILITIES Chapter President: Must be knowledgeable of the Foundation Code and Guidelines. Treasurer: Is responsible for the financial management of the Chapters Fundraising events Financial Secretary: Is charged with the responsibility for managing all dues and assessments Fundraising Event Chairperson: Responsible for Foundation Code and Guideline compliance of given event Foundation Chairperson: Serves as the liaison with the Foundation through the Regional Foundation Member-at Large Members: Sell tickets for events and contribute to Foundation

19 FREQUENTLY ASKED QUESTIONS Can Teens raise funds in the name of Jack and Jill to offset cost of Teen programming? No, funds raised in the name of Jack and Jill cannot be used to benefit our mothers or teens Does not prevent creative fundraising Why do chapters have to support the Jack and Jill of America Foundation? The Bylaws of the organization require the chapter to remit to National 1/3 of the profits from any fundraising designated for Foundation. Are my dues tax deductible? No Does the 1/3 Minimum Requirement apply to Chapter Assessments for Foundation in lieu of a Fundraising Event? No, these funds are 100% sent to Foundation How much is the Foundation Pass through fee for checks that are written directly to Foundation? It is a 5% processing fee that applies to each check.

20 REQUIRED PROCESSING DOCUMENTS Beneficiary Authorization Letter Silent Auction Donation Forms Charitable Donation Receipts Fundraising Remittance Form Chapter Payment Voucher Fundraising Finance Report Note: Forms can be downloaded from the Foundation website:

21 OUR FOUNDATION

22 OUR FOUNDATION Jack and Jill of America Foundation, Inc. is the philanthropic arm of Jack and Jill of America, Inc. Since its inception in 1968, the Foundation has distributed millions of dollars to communities all across America. In so doing, the Foundation is fulfilling its shared vision with Jack and Jill of America, Inc., to invest in the future of our children. The Foundation supports programs that not only create opportunities and challenges for children to learn and practice leadership skills, but also build leadership character in youth.

23 OUR FOUNDATION Furnishes personal, professional and financial support to children in the areas of leadership skills, training and development Foundation directs funding to chapters, children and communities Available grants/awards: Independent Grant; Jacqueline Robinson Regional Competition Award Violet D. Greer Teens-Associates Award Lucille Allen Hadley Youth Services Grant Special Projects

24 FOUNDATION RESPONSIBILITIES Responsibility of all chapters Failure to pay assessments levied by National and/or give financial support to the foundation shall be grounds for suspension subject to approval of the Executive Board Minimum of 1/3 of the net proceeds (profit) shall be designated for the Jack and Jill of America Foundation. Remaining balance to 501(c)3 charities or to the Jack and Jill Foundation All contributions to the Jack and Jill of America Foundation shall be submitted to Regional Treasurer on or before June 1.

25 QUESTIONS