If your organization is in need of a little cash, there are several methods of obtaining funds at Albion College. Typically, groups receive money through fundraising efforts, dues and/or Student Senate allocations.
Student Senate Funding
Jumpin Jellybeans…they really are giving out money. Each semester Student Senate receives funding from the student activity fee assessed to all students, valued at approximately $400,000 per year. This money is then allocated to student organizations, with a large portion of the funds being committed to programs such as Union Board and other campus-wide programming initiatives. The rest of the money is for individual student group activities. If you are interested in receiving a portion of the funds for your organization, requesting money is relatively easy, just follow EACH of the steps below.
- The funding application process takes place at the beginning of each semester before allocations are distributed. (Watch for notifications in your student organization mailbox.)
- Before an organization may apply for funding, a student representative from the organization MUST attend a funding workshop These workshops provide organizations with funding guidelines, new updates on procedures, and important deadlines. There are several workshops offered at the start of each semester. If any group fails to attend workshop it will be ineligible for Senate funding for the current semester.
- The organization’s representative attending the funding workshop will receive all the information necessary for submitting a Senate grant proposal. When writing a grant proposal, S.A.F. Senate guidelines should be followed as to what is fundable and what is not fundable. (Available on Senate website) It is strongly encouraged that the student who will be responsible for overseeing the organization’s money put the proposal together.
- After submitting a complete Senate grant proposal, the group may be asked to attend a short hearing on its proposal. At this time the Senate Appropriations Committee will ask any clarifying questions they have about the group’s budget.
- Once an organization receives funding, it is responsible for keeping track of all expenditures and submitting all receipts for the entire funding amount at the time the request is made, or within one week after the organization receives the money.
- The Student Senate holds all allocated funds until the organization requests the use of those funds. To receive allocated funds, an organization must fill out a short request form and return it to the Student Senate mailbox, which is located outside of the Student Senate office. The Student Appropriations Committee will issue a check for the amount requested.
- Any organization with Student Senate funding allocated for one particular item or event may request to use those monies for another item or event by filling out a line item change form, which is located outside of the Student Senate office. The Appropriations Committee will review the request and either grant or deny the change. Please allow two weeks for the change.
"Show me the money!" There have been many successful fundraising activities on Albion’s campus and the key to their success is always creativity. If interested in organizing an event, here are some fun ideas:
Halloween Pumpkin Sale
Ice Cream Social
Used Book Sale
Finals Care Packages
Fundraising efforts are coordinated through the Office of Institutional Advancement. Any group planning to do a fundraising project must submit a Request of Fundraising Activity Form to Institutional Advancement. For more information and exceptions to this rule please visit the Organizational and Departmental Fundraising Website.
Note on Solicitation:
Dues and Fees
Dues or fees charged to members should be set fairly and must not be used to discriminate against students in any manner that would violate the College’s non-discrimination policy.
Admission charged at events is an excellent way to cover event expenses. However, events designed to raise funds are often financially risky. It is recommended that you discuss plans for such events with your organization’s advisor or a staff member in CPO before you begin planning such an event.
Checking accounts are a good method of accounting for student organization funds because they create records of all transactions. It is recommended that organizations obtain an independent checking account for all monies collected for the organization outside of Student Senate funding. All accounts must be placed in the organizations name, which can be done with a tax identification number, and should require two signatures (officer and advisor) on each check. It is not recommended that an organization get an ATM card because there is no way of knowing who obtained the cash and how it was spent.
Tax Identification Number
All student organizations should obtain a tax identification number (TIN) for banking purposes. If the group is not sure if they have a TIN, call the bank and ask if they have one registered. The only other way to have a bank account opened without a TIN is if the organization is using a member of the organization’s social security number. The last option is not advisable because the member can be taxed for the interest obtained on the account. The form (SS-4) and instructions to fill it out may be picked up at the CPO Office. Once the form is filled out the TIN can be given over the phone. If assistance is needed with the TIN, please contact the CPO Office.