Registered Student Organizations (RSOs) may participate in fundraising activities for educational or public services/programs; however, all fundraising activities must be approved through Student Activities & Greek Affairs. Funds raised cannot be used in any way for the personal or individual gain of members of the sponsoring organizations. RSOs cannot use SAF funds to fundraise for internal RSO use. Collection of dues (membership and/or recruitment) is permitted, but must be deposited into the RSO University Account. The fundraising activities should reflect the organization’s purpose as stated in its constitution.
All funds raised, outside of SAF funded fundraisers, will be deposited into the RSOs 2510 account; which carries over from year to year. Funds from SAF funded fundraisers (ex. A portion of ticket sales designated as a donation) will be placed in the RSOs 6140 account to ensure funds raised do not fund internal RSO operations.
All registered student organizations wishing to fundraise (on or off-campus) must have a completed Activity Request Form on file with SAGA prior to collecting any money or goods. Forms are available online at OrgSync.com. Funds raised must not be considered taxable revenue. If the following three factors apply the revenue MAY be taxable:
- Is this a trade or business activity looking to generate a profit?
- Does this activity occur on a regular basis (daily, weekly, monthly, etc.)?
- Does this activity specifically relate to Loyola University Chicago’s educational mission? If NOT then it may be taxable.
Non-Loyola organization’s receiving funds raised by RSOs with or without the support of SAF funds must meet the following criteria.
- Must be a non-profit organization
- Cannot be a political organization
- Must align with the RSOs mission
The following fundraising options are permitted on campus, but are not limited to:
- Bake Sales (Please see Food Safety Policy)
- Selling items (flowers, donated items, etc.)
- Selling services (car washes, waiting tables, etc.)
- Rummage Sales
- Charging admission, in the form of ticket sales, at a SAF funded event
- Proceeds from the event can only be used to support the charity of the student organization’s choice
- No funds can be raised in support for an organization’s internal operations
- Revenue, earmarked for donation, can’t exceed $15.00 per ticket without SAGA approval
- Requested donations at events (funds raised will be deposited into RSO revenue account to be carried over from year to year)
- Selling concessions at an event (SAF CANNOT be used to purchase supplies/concessions)
- Collection of dues or membership fees
- Off-campus business donations of goods or services (to be used at an event – pizza, prizes, etc.)
- Asking for monetary donations (solicitation of this kind requires approval from SAGA)
See Cash Box section for money handling requirements.
Prohibited fundraising methods include but are not limited to:
- Campaign solicitations and campaign fundraising activities. Funds for political candidates or campaigns may not under any circumstances be solicited in the name of Loyola University Chicago or on Loyola’s campuses. Loyola students, faculty, and staff may make personal contributions to the candidate(s) of their choice.
- Raffles and/or lotteries. Any event requiring a fee in exchange for a chance at a prize may qualify under Illinois law as a raffle. The legal ramifications of holding a raffle are serious. If there is any question about whether your activities could be considered a raffle or lottery, please contact Student Activities & Greek Affairs.
- Events/activities promoting and/or providing alcohol.
- Eating contests.
- Date auctions.
- Fundraising events at a bar or tavern (tavern defined as any establishment generating more than half of annual gross sales from alcohol).
Student organizations who wish to solicit funds or contributions for charitable donations must have SAGA approval. Student organizations are permitted to solicit funds or contributions from the campus community (students, faculty/staff, and alumni) and/or off-campus entities (individuals, businesses, corporations and/or foundations) for the student organizations use under the following guidelines:
- The donation directly relates to the mission and purpose of the student organization as indicated in the organization constitution
- The solicitation of funds and/or contributions has been approved by SAGA
- Proceeds were voluntarily contributed with the understanding of the cause or purpose
- If the donation is in the form of a check it must be made payable to Loyola University Chicago and is processed according to the tax deduction procedure outlined in the Tax Identification Numbers section or it must be made payable directly to the external charitable organization.
- If the donation is made in cash, the funds must be deposited directly into the student organization’s University account to be used for funding internal activities congruent with organizational purpose and/or to be given to an IRS-recognized 501 (c) (3) organization excluding political organizations or unrecognized groups.
- In order for an RSO to donate funds the organization receiving the funds must send SAGA an invoice or notification of the intended RSO donation.
If donor requests documentation for tax deduction purposes please see Tax Identification Numbers section.
Tax Identification Numbers
Tax identification numbers are the way the government tracks organizations. Loyola University Chicago does not give out its tax identification number just like you would not give out your SSN. If an outside entity requests LUC’s Tax ID number in the context of a donation agreement please consider the following:
- Donations can only be tax deductible if the donation is given directly to Loyola University Chicago (not to the RSO specifically).
- Donations have to be deposited through the Division of Advancement and then the donor can receive an acknowledgment letter that can be used for tax deduction purposes.
- Loyola University can send out a letter to the donor only if the funds are processed through the Loyola University Financial System.
- Cash donations cannot be tax deductable.
Here is the procedure that must be followed in order to receive a tax deduction from Loyola University Chicago.
- The check is made out to Loyola University Chicago with the specification of where funds should be devoted or distributed.
- The check is given to the Loyola administrator (SAGA Staff), who will make sure that the check is deposited to your University student organization account.
- The acknowledgment letter will be sent to the donor from Loyola University Chicago. That letter can be used as the supporting document for tax deduction purposes.
- Funds will be held in your account until the request from an organization is received by SAGA.
- When the request is received, the Student Activity Fund Coordinator will review request to make sure that the funds are being used appropriately.
- If expenses are approved, the check will be issued to the vendor.
- All unused funds will remain in your account and will carry over to the next year.
- The Student Activity Fund Coordinator has final approval of all expenditures.
Registered Student Organizations are required to reserve and use SAGA cash boxes for events/activities (whether held on or off campus) where money is exchanged (includes fundraising, ticket sales, etc.). SAGA will provide cash boxes as well as a safe for temporary money management and storage. An account loan can be provided up to $100 in the case where change is needed. Guidelines for use are as follows:
- The registered student organization must submit Cash Box request form 48 hours prior to the event via OrgSync.com.
- Cash box and funds need to be returned 24 hours after the event concludes; if event falls on the weekend and the SAGA office is closed it is expected the cash box and funds are returned by the next business day.
- The deposit form must be completed and returned at the same time as the cash box to document original amount loaned (if applicable), amounts collected, total deposit amount and indicate a signature of witness confirming the return of the box and loan funds.
- Funds will be deposited to the RSO’s University Account.