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Chapter Finances, Fundraising, and the Role of the Chapter Treasurer

Chapter Finances, Fundraising, and the Role of the Chapter Treasurer. What does a Chapter Treasurer do?. Collect chapter dues Organize chapter fundraisers Reimburse members when needed Keep spending under control Act as contact for bank/student accounts Keeps monetary balance ledger

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Chapter Finances, Fundraising, and the Role of the Chapter Treasurer

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  1. Chapter Finances, Fundraising, and the Role of the Chapter Treasurer

  2. What does a Chapter Treasurer do? • Collect chapter dues • Organize chapter fundraisers • Reimburse members when needed • Keep spending under control • Act as contact for bank/student accounts • Keeps monetary balance ledger • Maintain petty cash • Pays National dues • Submit financial reports to the National Treasurer • Complete necessary tax information

  3. Organizing Chapter Finances • KEEP A THOROUGH LEDGER • Easy review of finances • Accurate documentation of money • Gives a history of chapter finances over the course of several years • Accurate documentation of dues paid by individual members • Provides easier transition of information from one treasurer to another

  4. The Transition • Review ledger with new treasurer • Change names on financial records, bank records and/or student accounts office • Hand off all materials and review if necessary

  5. FUNDRAISING One of the most important responsibilities of each chapter treasurer is to raise funds toward the operations of the chapter. At no other time is this more important than when a chapter is hosting a convention or other major event.

  6. The Nine Basic Truths of Fundraising • Basic Truth 1: Organizations are not entitled to support; they must earn it. • Basic Truth 2: Successful fund-raising is not magic; it is simply hard work on the part of people who are thoroughly prepared. • Basic Truth 3: Fund-raising is not raising money; it is raising friends. • Basic Truth 4: You do not raise money by begging for it; you raise it by selling people on your organization. • Basic Truth 5: People do not just reach for their checkbooks and give money to an organization; they have to be asked to give. • Basic Truth 6: You don't wait for the "right" moment to ask; you ask now. • Basic Truth 7: Successful fund-raising officers do not ask for the money; they get others to ask for it. • Basic Truth 8: You don't decide today to raise money and then ask for it tomorrow; It takes time, patience, and planning to raise money. • Basic Truth 9: Prospects and donors are not cash crops waiting to be harvested; treat them as you would customers in a business.

  7. The wrong fundraising strategy • Sometimes organizations try to implement ideas that other organizations have used successfully. • Before you do, you need to answer some key questions: • What were the specific conditions that made that idea work for that organization? • Do those conditions exist for your organization? • Do we have the capacity to implement that strategy? • What are the real costs? • What can we realistically expect to receive? • A better approach is to learn what strategies have been successful for you. Build on those strategies. Build on what you know about your capacity, your fundraising history, and your donors.Avoid these mistakes and you will build better relationships with your donors, raise more money and create more sustainable financial support.

  8. What works! • Car washes • Food • Flowers • Necessities • Grams • Events WHAT IDEAS HAVE WORKED FOR YOU IN THE PAST???

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