Fundraising events pose added risk to the organization and must be planned carefully in order to achieve their fundraising goal, while not jeopardizing volunteers, donors or participants or the integrity of the organization.
A fundraising event plan must be completed and approved by Executive Director prior to holding any event. It is the responsibility of the Executive Director, the Project Lead Member and his/her fundraising team to ensure the following event guidelines are adhered to.
Event Guidelines
- Fundraising Event Plan must be approved prior to event by Devxchange.
- When holding fundraising events or cause-related marketing, the amount of funds going to the cause shall be clearly described prior to or in conjunction with the effort on all materials.
- The Project Lead Member must maintain control and report over all monies that are received at the event including but not limited to ticket sales, silent auctions, donations, draws etc. All income and expenses are to be processed through Devxchange in compliance with CRA regulations and to ensure donor transparency. This includes both income that is tax receiptable and income that isn’t tax receiptable.
- The expenses for any fundraising event including the use of third party fundraisers should not exceed 35% of funds raised.
- All funds must be sent and processed through Devxchange whether they are tax receiptable or not.
Insurance and Permits
If holding an event in a public space special insurance and permits may be required. Copies of such permits must be approved by the Executive Director prior to holding the event.
Insurance and permits may be needed but are not limited to:
- Serving Food
- Serving Alcohol
- Public Spaces
Ticket Sales
If you sell tickets for an event, of which part of the ticket price is a charitable donation, be sure to calculate event expenses carefully and keep track of all receipts. Costs should be less than 20% and certainly not more than 50% of the ticket price. Purchases of silent auction items are not eligible for charitable receipts. If a meal is included in the ticket price, the value of the meal needs to be subtracted from the eligible tax receipt amount.
Event Donations
- When holding an event, the amount of funds going to the cause shall be clearly described prior to or in conjunction with the effort.
- Ensure complete donor information is included with all donations.
- Only donations of $20 or more are eligible for a tax-receipt.
- Encourage donors to provide an email address for tax receipts. This help Devxchange keep our admin costs to a minimum.
