Frequently Asked Questions
Student Organizations and the FSU Foundation
Q: My student organization would like to raise money. Can we put that money in the Foundation?
A: Yes, any contributions or donations to your organization can be deposited at the Foundation. If you raise more than $10,000 annually, we can establish a fund for your organization. If you are not raising upwards of $10,000 each year, we can process any contributions your group receives through the Student Organization Clearing Fund (for Student Organizations and Clubs) or through the Campus Recreation Intramural’s/Sports Club General Development Fund (for sports clubs and Intramural’s).
Q: What are the Student Organization Clearing and the Campus Recreation Intramural’s/Sports Club General Development Funds?
A: The Student Organization Clearing and the Campus Recreation Intramural’s/Sports Club General Development Funds allow student groups to accept donations and provide a tax deduction receipt to the donor. The gift is deposited in to the fund, the donor will receive a receipt, and finally the funds are transferred to either the student organization’s A&S fund as self-generated income or they remain in the Foundation account and are spent in accordance with policies and procedures set forth by the FSU Foundation in cooperation with Campus Rec.
Q: How are funds transferred to my club’s A&S account?
A: To deposit the funds to the Foundation and then and transfer them to your SGA A&S account you will need to contact Kim Dicks at email@example.com or 644-6914.
Q: Our sports club does not have its own A&S account. How can we receive and spend money we have fundraised?
A: If your sports club organization does not have an A&S account the Foundation can hold the funds in the Sports Club fund. Funds can be accessed by either a) having a vendor bill the Foundation for purchases the club has made or b) providing receipts for purchases and completing a disbursement form. Disbursement forms must be completed with Travis Redeker in Campus Rec.
Q: Are all student organizations able to collect contributions that are tax deductible?
A: Most funds raised by student organizations are eligible for tax deductions from the FSU Foundation. Greek organizations are the exception. Funds raised by a chapter can be used to support academic scholarships, but cannot be used to support the building of a chapter house. Funds for this purpose are typically kept with the Housing Board or the National Office of the chapter. Individual chapters can raise scholarship dollars though.
Q: Can self-generated income be taken away during sweepings if it is not used?
A: No, funds in the self-generated line of your A&S fund cannot be taken back. These funds can be used to support the organization as they see fit, following the rules and regulations of Student Government Association.
Q: How does our organization use funds in the self-generated line of our A&S account? Is it an easy process?
A: Organizations use the same process to expend self-generated funds as they use to expend A&S allocated funds.
Q: Are students allowed to be reimbursed out of the self-generated line of A&S accounts?
A: Since the process for expending self-generated funds is the same as A&S, we do not allow reimbursements.
Q: We sometimes receive free items and gift certificates from local shops, are these tax deductible?
A: The Foundation does accept gifts in kind, but typically we do not process these gifts unless their value is greater than $250. If you have specific gifts in kind you would like the Foundation to accept please contact the Director of Development for the Division of Student Affairs at (850) 644-9501.
Q: Can we us the tax exemption status of the University or the Foundation when we are making purchases?
A: Yes, if the University or the Foundation pays for the purchases directly. If you are being reimbursed for a purchase the University and Foundation are not directly paying for the purchase and the tax exemption cannot be used. The best way to receive the tax exemption is to ask the vendor to bill the University or the Foundation directly. You will need to attach the invoice or bill to a disbursement form and have the appropriate parties sign you request before forwarding it along.
Q: We would like to send a letter to all of our former members asking for their support. How can we do that?
A: One of the most important things you can do to make a letter campaign successful is to collect good data on all your members and share that with the Alumni Association and Foundation. Once a year we request the membership rosters of student organizations and code them in our database. Make sure you complete that request and send in your club or organization’s information. If you have old membership rosters we can add the information to alumni records. Please pass that along to the Director of Development for the Division of Student Affairs at (850) 644-9501 or at firstname.lastname@example.org.
The first step to a mailing is to contact the Director of Development for the Division of Student Affairs to discuss the letter and when you would like to send it. Alumni and friends receive numerous mailings each year and the timing of your mailing is important. You don’t want to send out your letter right after they have been asked to support Boosters, their college or school and the Alumni Association. You want to time the mailing to maximize their interest in your needs. The Director will provide guidance in developing the letter and message and will also request the mailing list from the Foundation’s database. Once the letter is sent the Foundation will send reports on the performance of the mailing. Depending on which type of fund is used, funds will either remain at the Foundation or be transferred to the A&S fund’s self generated line. It is our expectation that all donors receive a letter from the student group thanking them.
SGA Business Manager: