Fundraisers
Exchequer Atlantia
PSA from the Kingdom Exchequer’s office:
I have been asked questions recently about fundraising. Here are a few highpoints, and if there are any more detailed questions do not hesitate to reach out.
Any fundraiser can be designated for a specific purpose. All fundraisers MUST have a secondary purpose. If you announce that you’re raising money to buy a tent, and you raise $3000 and the tent costs $2999 you have to carry that extra dollar on your books as a dedicated fund until you buy another tent. “We’re fundraising to buy a tent and the excess will go to the general fund” is the proper wording. The excess can also go to another fund like travel, children’s activities, A&S or University. Whatever your group VOTES to do.
The only rules that are ironclad is that no money may be raised by an official group and then given to an individual. If you’re raising Travel funds, that money must be available for any covered travel by any member of the group. Yes, you can reimburse a group member for (for instance) hauling all of the group tents and gear to an event. Pulling a trailer causes extra fuel usage! You can also set boundaries, such as reimbursing half of the gasoline for a trailer pull since the car or truck was going anyway.
Corp recommends time limits on Designated funds. Therefore, when the designated fund description is added to your financial policy, if it’s a permanent revolving fund, mention that it must be voted on annually.
The Kingdom has designated funds for both Pennsic and other Interkingdom Wars. University, KASF and Children’s activities such as the Pennsic Fete also have designated funds. This is because donated funds must be used for their intended purpose (see the first note). We have budgeted amounts that are included in certain funds, and all donated funds are tracked into their own fund designation in the Kingdom financial reports.
In service,