Budget and Funding

Raising funds for your event!

Hopefully the funding you receive through Educational Activities will cover the expenses you anticipate for your event. Unfortunately, in many cases the funding from Educational Activities does not cover all the expenses to put on an event. The following is a summary of ideas on how to find additional dollars for your event, and a basic description of how to go about making use of the dollars provided.

Funding - Each type of funding determines how it may be utilized by your organization. The various funding sources listed below can be complex on how to receive and administer them, so use time to your advantage. Once you have determined what you needs are, it is never too early to begin seeking additional funding.

Sources of funding - your funding from Educational Activities should be your primary source of funding for your event. Find out from your treasurer how much has been allocated from your organization’s budget for your upcoming event. Ticket sales for an event is a way many organizations offset the total cost with the amount raised from ticket income. If budgeted amount is inadequate to cover all the anticipated expenses, and you will be unable to cover your expenses through additional ticket sales, then begin looking for other sources.

Other Sources of Funding - possible sources on campus!

Educational Activities Annual Fund: an organization that has been recognized for at least one year may make application for additional funding through the Annual Funds. The same guidelines are used for use of annual fund dollars as for your organizational Educational Activities dollars. There is a request packet available in Student Involvement, and on line at (http://www.oregonstate.edu/dept/edact). To request money you will fill out the form and submit a budget for your needs.

Co-Sponsor with another student organization: some organizations that are funded through Educational Activities have additional dollars available to co-sponsor events. Sometimes organizations don’t have enough money to produce an event on their own, but collectively with other organizations, each contributing some amount, they are able to successfully fund an event. Contact other members of funded organizations for possible co-sponsorship. If you chose to co-sponsor an event, there is a form in the Financial Management guide, or at the website that should be completed to document the amount being sponsored by each.

The Student Foundation - much like the Annual Fund, the Student Foundation has a request form, found in Student Involvement, that you may make request for additional dollars as needed. You will fill out the information requested on the form, what your organization is, what your need is, etc. and submit it to the foundation for review and possible award.

Departments on campus - a number of departments on campus make available funding for student organizations and their activities. Funding sources through departments vary a great deal depending on what type of funding it is, and if from a Foundation Account, Departmental dollars (general fund, auxiliary, etc.), or other sources. Generally the way to request money from a department is to draft a letter, stating what your organization is, what event you are hoping to put on, how much money you are in need of, and what specifically will the requested dollars be used for.

The funding source from the department determines how the money will be administered. Some departments have foundation accounts, where they are able to transfer money into your organization’s account (index). Other departments with foundation money chose to pay for an expense directly from their account, thus processing goes through the OSU Foundation. Some departments use their departmental dollars directly. This is accomplished in a couple of ways. One is where the department pays an invoice directly for you. For instance, a department has agreed to contribute $100.00 towards your event, and you have a $100.00 invoice for supplies. They would process the payment for you, thus have contributed $100.00 toward your event. The other way is to make use of an index from the department and incorporate the contributed amount on an invoice being paid through the university.

What should be on the letter you send out.

What is your organization
What is the event you are seeking funding for
How will the event impact students and the campus in a positive way
Where will your event be held at
When is your event
What is the total amount you are seeking, to be able to hold your event
What types of expenses do you need covering - food, supplies, rentals, etc.
Who is the contact person from your organization, phone number, email, SI mailbox
Be sure to list the Ed. Act. Advisor as a contact as well - due to the complexity of the funds contributed.

**Be sure to contact the Ed. Act. Advisor, Curt Black, at 737-6260, 158 Memorial Union East, before you send out a letter to departments requesting funding, to insure you have included all the details needed**

Use of your organizational money in an FIT account - sometimes organizations have to make use of their money on deposit in the Memorial Union Business Office, room 217. These monies are called Funds Held In Trust. Generally these are accounts where the organization has raised its own money through member dues, fund raisers, etc. The use of these dollars is typically when an organization has been unable to find enough money from other means, or for the purchase of items that a funded account cannot pay for - such as cards (invitations, thank you). These are accessed by way of a Disbursement Request. Contact Chris Howard, MU 217 for additional help.

Off Campus sources of funding - often times businesses are willing to contribute products or money for organizations putting on events. Much like soliciting money from departments, generally a letter is drafted including the same basic elements as the departmental letter; who you are, what your need, etc. The difference is that most businesses seek to write off the expense for tax purposes. This cannot not be accomplished by putting money into your Educational Activities account, but must employ a process through the OSU Foundation.

If a business was to contribute products for your event, and was seeking a way to write the expense off there is a form from the Foundation which accomplishes this. It is called a "Gift in Kind" form. Basically the vendor fills out a portion of the form, the organization another, and it is sent to the Foundation for completion and receipting to the vendor.

If the business is donating money and is seeking to write off the expense for tax purposes, the processing of the money must go through the Foundation. This can be accomplished by depositing the donation into your Funds Held In Trust account in the Memorial Union. Where they will make a copy of the check and send you to the OSU Foundation for proper receipting to the vendor. The other process is if you have a OSU Foundation account and the deposit may be made directly into that account.

***Due to the complexity and tax ramifications of soliciting products or money from outside vendors, contact the Educational Activities Advisor Curt Black, for an appointment on how to proceed with these efforts. At 737-6260, 158 Memorial Union East***

What to do once funding has been identified!

First and foremost, keep a list of those contributing to your event, how much for what, etc. and provide a copy to the Educational Activities Advisor for reference.
Click here to view an example Excel sheet to keep track of contributions.

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Making Use of the Dollars!

Remember it is important to document contributions made to the organization, and how you will be making use of these contributions. It is not the responsibility of the Educational Activities Advisor to keep track of, or appropriate the dollars/items received by the organization for its event. Much like spending your organization’s budgeted dollars, the Advisor is here to work with you to deposit/expend the contributions for your event.

Whenever you receive contributions for your event; if specified, be sure to comply with those giving for how the contributions are to be used. Many departments on campus have funding which is very restrictive on how they may use their money. The last thing we wish to do is have a department endanger their funding by using it in an unspecified way! If you are to receive departmental dollars, be sure to be clear about what type of funding is being provided, and how it is to be used.

If you receive money, be sure to deposit it. You can’t spend money unless it is in an account! If you receive money (check) and it is from a business seeking a tax write off, deposit into your F.I.T. account or an OSU Foundation account. For a deposit in an FIT account you will take a copy of the check to the OSU Foundation, 850 SW 35th street, for receipting. Questions? Contact the OSU Foundation at 737-4218.

This is a summary of what can be a very complex process from the time someone provides a contribution to you, and the expending of the dollars. If you have any questions, or those who are contributing to your event have any questions, don’t hesitate to contact Curt Black at 737-6260, or email Curt.Black@oregonstate.edu

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