Title: Student Fundraising Guidelines
Effective Date: 12/17/2015
Issuing Authority: Controller
Contact: Nate Engle at engle1@stolaf.edu or 507-786-3502
Last Updated: 9/21/2022
Purpose of Guidelines
These guidelines have been established to assist students in fundraising activities for their organization and to ensure proper controls and processes are in place for funds directed to a student organization.
Intent
It is the College’s intent that fundraising by student organizations do not detract from other fundraising campaigns that occur on behalf of the College.
All fundraising activities should provide information on how the funds will be used and should be for the benefit of the organization soliciting the request or a non-profit beneficiary aligned with the organization’s mission.
Approval
All fundraising activities (cash, goods, or services) for registered student organizations need to be approved by the Office of Student Activities. Information regarding holding a successful fundraiser can be found here.
Financial Processes
Accurate financial records must be kept for all fundraising activities. If an organization receives financial donations, or gifts in-kind, they must be deposited to the Business Office within five business days of the conclusion of the campaign. A Business Office Deposit Form should accompany each deposit. All donors making an individual gift of $250 or greater should be separately identified in order for them to receive a gift receipt from the College. The Business Office is responsible for sending this information to Advancement Services.
All financial activity should be done through a College bank account. If an organization wishes to receive funds electronically, the Office of Student Activities will provide instructions after the Fundraiser Request Form has been completed. A personal bank account should not be used for any student organization fundraising activities.
Compliance
Organizations which conduct fundraising activities must comply with all College policies and applicable governmental regulations.
Failure to obtain approval or to follow the guidelines listed above will result in the loss of an organization’s fundraising privileges for the remainder of the academic year.