Chapter Finances (Board Treasurer)
As a suborganization of the UNLV Alumni Association, chapters are covered by the association’s nonprofit 501(c)(3) status. This generally means revenues brought in are not taxable by the federal government.
Each chapter have a separate accounting of its funds with the association. Your chapter treasurer will work closely with the alumni relations team to request payments, make deposits, and monitor the balance. Annual tax filings will be managed by the association.
Before the beginning of the fiscal year, your chapter board of directors will create a budget. Budgets do not need to be submitted to the association. They are strictly for use by your board.
Officially approved chapters will receive their portion of membership dues once a month. These funds will be transferred directly to the chapter account with the association. Your treasurer will receive notice of this deposit.
As a nonprofit private corporation, the UNLV Alumni Association regularly seeks additional donations to support Alumni Association activities from the community. We call these “sponsorships.”
Sponsorships comprise monetary contributions, gifts in kind, and gifts of service. In-kind gifts are tangible property donated, and gifts of service are professional services provided at discount or donated. Any gift in kind or gift of service will be accompanied by a Contribution Report.
Guidelines for Sponsorships
Since sponsorships may be offered in a wide range of alumni activities, perceptions of corruption, favoritism, or friendly deals can arise if the potential donors are approached directly by individuals without formal authorization and before there are accountability mechanisms in place. Here are guidelines to follow to help navigate these issues:
- The development officer in your academic unit and alumni relations shall be consulted PRIOR to approaching donors to avoid submission of multiple requests to the same donor at the same time. In the absence of a development officer, please contact Scott Roberts at the UNLV Foundation.
- Sponsorships must benefit the Alumni Association and assist with alumni engagement.
- A control system shall be established to ensure the principles of impartiality, integrity, accountability, and obtaining the best deal are included in the solicitation and acceptance processes.
- There should not be conditions attached to a sponsorship that may affect the association’s or the university’s ability to carry out its functions fully and impartially.
- The acceptance of a contribution from a donor should not adversely affect the reputation of the association or the university.
- No volunteer or staff member shall ask for or receive personal benefits connected with gifts or sponsorships.
- Volunteers and staff shall follow accountability mechanisms to ensure that the full extent and nature of donations and sponsorships, and the exchange of benefits or acknowledgment between the association and the donors, are documented and available for public scrutiny whenever necessary.
- Tax benefits can vary based on tangible benefits. Official receipting will be handled by alumni relations based on contribution reports submitted by the chapter.
About Gift-in-Kind Sponsorships
Before accepting a gift in kind, consider:
- Is the gift relevant to the work of the university and the association?
- Will accepting the gift jeopardize the reputation of the donor or the university? Does the donor's intent match the interests of the university?
- Will the gift cost the university money in the future, such as maintenance, repair, or preservation costs? Will the gift require a special facility in which to house it?
- Are there any risks associated with accepting the gift?
- Are there any special conditions the donor may impose that cannot be reasonably met?
- If the property cannot be used to further our programs, will the donor allow it to be sold? (If the donor places a condition on the gift that it is not to be sold, do not accept the gift.)
How to Solicit for Sponsorships
- Discuss with the appropriate approval body (association or chapter board of directors) the alumni activity for which you wish to seek sponsoring support.
- Develop sponsorship packages. Be sure to include attractive benefits for your sponsor, such as name recognition, free admission to an event, or a booth.
- Develop a list of potential sponsors in conjunction with your committee, board, college dean, and development officer as applicable.
- Prior to solicitation, send the list of potential sponsors to alumni relations to check the association’s lists for a standing solicitation.
Official Acceptance of Sponsorships
When a sponsorship has been finalized, the next steps shall be completed in order to formally recognize the gift:
- If the donor has provided any restrictions or obligations associated with a gift, contact alumni relations prior to accepting the gift.
- The association volunteer will complete the Contribution Report form.
- Follow your chapter’s normal depositing process for cash gifts.
- Alumni relations staff will issue a charitable receipt and file the paperwork in the financial files.
If you have any questions as to whether or not an activity qualifies for sponsorship solicitation, please contact Amy Bouchard at email@example.com or 702-895-5587.
How to Spend Chapter Funds
Once your board has agreed to fund an alumni activity, you may request payment from your chapter account:
- Complete a Check Request Form.
- Include either:
- Invoice with completed W-9 form.
- Receipts for reimbursement.
- Send the completed Check Request and materials to Amy Bouchard at firstname.lastname@example.org or fax to 702-895-4282.
- Check request deadlines are: (A) the third of the month for a check cut by the 10th and (B) the 18th of the month for a check cut by the 25th.
- If you choose not to mail the check to the vendor, it will be delivered to the association, where you can pick it up.
- Emergency check requests can be processed for a $45 fee to be charged against your chapter account. Be sure to plan ahead and turn in your requests in time to meet the deadlines.
How to Deposit Chapter Funds
Your chapter may from time to time take in payments such as cash, checks, or credit cards for events, sponsorships, etc. Your chapter treasurer, with the proper oversight of the board, is responsible for ensuring these funds are properly collected and applied to charges or accounts payable with your chapter.
To deposit chapter funds:
- Complete a chapter deposit form.
- Collect credit card payments using a credit card form, and gather other deposit items. Credit card orders are completed in the alumni relations office.
- Schedule an appointment with Amy Bouchard at email@example.com or 702-895-5587 to make the deposit.
- At alumni relations office, Angela will confirm the deposit and provide you with a signed receipt.
- Funds will be deposited into your chapter account according to the association’s policies.
- If credit cards were processed, declined transactions will be deducted from the deposit and reported to person who prepared the deposit.
- Once a month, the bank charges a fee to process credit cards. At this time, the fee is 3.9 percent of the total transaction amount. Example: A $100 credit card payment will result in a $3.90 fee. The bank fee for your chapter’s credit card revenue will be applied to your chapter’s account once per month.
- The chapter treasurer should verify that the deposit appears on quarterly chapter account reports.
- If there is an error, immediately notify the association.
- Claims of missing deposits will not be honored without presentation of a valid receipt.
On a regular basis, the association’s accountant will report current cash balances for chapter accounts. It is the responsibility of your treasurer to carefully review and present these reports to the chapter board of directors. If something is found to be incorrect, review your receipts and other records to verify. Contact our offices as soon as possible to alert us to an error.
At the end of the fiscal year, June 30, the accountants will close the books and begin preparing the association’s tax return. On July 1, our books are reopened in the new fiscal year.
Supplemental Funding Request Guidelines
The association often provides a small amount of additional funding resources to chapters. These funds are in addition to membership dues.
In an effort to ensure that available funds are distributed fairly and responsibly, the association’s chapters committee has outlined the following criteria by which funds will be awarded to the academic chapters. Preference for awarding supplemental funds will be based on the following criteria:
- Fiscal need
- Ability of chapter and/or academic unit to provide partial funding
- Activity supports addition or retention of members
- Chapter has provisional or official status with the association
- Whether or not the chapter requesting funds has received supplemental funds in the last six months
The association requests that the chapter note the sponsorship support through one or more event /program-related promotions, including but not limited to:
- Event table tent or program
- Event poster or flyer
- Electronic notices and e-newsletters
To request supplemental funds, provide written responses on the following items:
- Describe the event and the need for funds.
- Have you expended all alumni member dues in the dean’s account?
- Is your chapter able to provide any funds or seek out sponsorships to support the event/program?
- What is the balance of your chapter account with the association?
- How does this event/program support membership recruitment, membership retention, and/or garner possible media attention?
- Has the chapter received supplemental funds in the past six months? If so, how much and how were they used?
- If supplemental funds are awarded, how will the association’s sponsorship be communicated in event materials?
- Send your request to firstname.lastname@example.org. The chapters and clubs committee will review your request at their next meeting.