FUNDRAISING PROJECT APPROVAL PROCESS
Many Arkansas State University-Beebe groups want to raise funds from outside sources to support their activities. We encourage this entrepreneurial outreach and want to help College groups increase their outreach to prospective donors. At the same time, we must protect the interests of the College, our friends and donors, and prevent conflicts among College units. To meet all of these objectives, we are instituting an approval process for all College organizations that wish to solicit funds off campus or through crowdfunding efforts.
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ASU-Beebe organizations that wish to solicit funds must receive a prior approval for each fundraising project from the Office of Institutional Advancement. * NOTE: If a student group is requesting to raise funds, an approval must be submitted in writing or electronic mail from the Office of Student Life.
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All College units, faculty, and student groups (including student organizations) are asked to submit online the ASU-Beebe Fundraising Project Approval Form to simplify the approval process.
If you are planning a fundraising activity or event, contact the Office of Institutional Advancement for assistance as early in the process as possible. This will safeguard the interests of the College and our donors, and help us to build strong and lasting mutually beneficial relationships with those who wish to support ASU-Beebe.
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The names of those individuals and organizations to be solicited must be approved by the Office of Institutional Advancement.
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The names of those individuals and organizations to be solicited must be submitted to the Institutional Advancement Office at least two weeks prior to the start of the fund raising activity. It is rare that Institutional Advancement will deny permission to approach a specific individual or organization. In those cases, there is usually an on-going major gift solicitation or other special circumstances that make an additional appeal unwise or potentially damaging.
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Funds raised that qualify for tax-exempt status must be processed through the Office of Institutional Advancement. *
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The Office of Institutional Advancement will record gifts, issue the acknowledgement letters, and transmit the gifts to the Business Office for deposit in the account of the group that raised the funds. Appropriate tax receipts will be issued from the ASU System Foundation office. Do not take gifts (checks, credit card receipts, cash, etc.) to the business office for deposit, unless otherwise instructed by the IA office.
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*Note: the restrictions above do not apply to transactions where the supporter is primarily receiving goods or services in exchange for their money. Candy sales, car washes, apparel sales, etc., produce earned income, not philanthropic contributions. Earned income should be deposited in College accounts through the Business Office and is not processed through the Office of Institutional Advancement.
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No crowdfunding campaigns may be created by a group, organization, or individual representing the College without approval by the Office of Institutional Advancement.
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All crowdfunding campaigns should be linked to a College gift budget. The Office of Institutional Advancement will record gifts, issue acknowledgement letters, and transmit the gifts to the business office for deposit in the account of the group that raised the funds, minus the administrative fees charged by crowdfunding vendor. Appropriate tax receipts will be issued from the ASU System Foundation office.
In the event that a crowdfunding appeal receives authorization to link to an account outside of ASU-Beebe, it must clearly identify the donations are not eligible for tax exempts status through ASU System Foundation 501(c)(3) status and have a plan for appropriately acknowledging contributors. (A potential example is an individual student crowdfunding to go on an ASUB Study Abroad trip.)
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All appropriate permits must be obtained before engaging in any fundraising activity and must be conducted in compliance with all local, state, and federal regulating agencies guidelines. Please note, that any type of bingo or casino event requires an additional permit. Please reach out to the Office of Institutional Advancement for further guidance or questions.
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IMPORTANT: All ASU-Beebe funds are invested by and housed at the ASU System Foundation, Inc., therefore when a group is requesting funds from the Office of Institutional Advancement, it is important that the request be made at least seven business days prior to the date the funds are needed or expected. In the request for funds, please include documentation stating which group will be receiving the disbursement and how the funds will be used. To simplify fill out the online ASU-Beebe Fund Request Form
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PLEASE NOTE: REQUEST FOR FUNDS WILL BE DENIED IF PROPER DOCUMENTATION IS NOT INCLUDED.
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Fundraising is an important source of support for operating units at virtually all not-for-profit organizations, including colleges and universities. Student clubs, academic departments, sports teams, and other campus organizations often solicit the external community for assistance. Because our friends and neighbors traditionally respond so generously, it is essential that we have a mechanism in place to coordinate the efforts of campus-based fundraising activities while continuing to steward relationships with our external constituencies. To these ends, the Office of Institutional Advancement has developed this process for approval of fundraising activities. If you have questions, please contact us at 501-882-8855 or at give@asub.edu
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