Fundraising is an excellent way for the group to raise scholarship funds to support local students attending The Ohio State University.
People want to know what they are giving towards. Having clear communication as to how the money raised will be used will lead to increased giving and a positive impact. The process of giving should also be as hassle-free as possible for potential donors. If you have an event or raffle, make sure that language around how donors can give as well as the payment mechanism (ex. who to write the check to, the online credit card website) is clear and convenient.
If a donor wishes to remain anonymous, it is important to respect his or her decision, and to keep that information private. Always get the consent of a donor before publicly recognizing or sharing information on his or her gift.
This area might seem common sense, but is crucial that the integrity of the fundraising process is upheld at all times. Fairness, honesty, and inclusive practices are fundamental to good ethical behavior. Money raised should only be used for the purpose for which it was raised. Group leaders who handle money should deposit funds immediately into the group’s bank account, and money should only be withdrawn for official group business. Group leaders should avoid scenarios where there may be a conflict of interest between asking for donations and non-group interests (such as using group communication to sell Girl Scout cookies, or providing a discount to all donors at a local business that one of the group leaders own).
When collecting money, such as at a game watch, it would be best to have a designated place for the funds, preferably a lock box. It is also best that the money is assigned to a person for an event so that in the midst of event activities it is not lost or stolen. Sensitive information such as credit card numbers should not be written down, easily visible or accessible.
It is good practice to follow-up with donors to thank them for their gifts, and when possible, share information on the impact that their gift has. For scholarships specifically, hosting an event in which scholarship recipients and donors attend is a great way for donors to see the impact of their gift, and for recipients to thank donors in person. Donors will be more likely to give if they feel their gift was useful and appreciated.
Group leaders should have a current use account set up with the University. If a donor writes a check to donate to a group’s scholarship, the check should be made out to “The Ohio State University Alumni Association” or “The Ohio State University”. Group leaders can send in those checks to be deposited into the current use account, and the donor will receive tax credit for his or her donation.