Donations Organizations may accept monetary or item donations . However , businesses or institutions making financial donations to an organization must make funds payable to the Student Organization name and Collin College instead of an individual . If funds are inadvertently made payable to a student , they must not accept the funds and return the funds immediately to the business or institution . Failure to do so violates procedures and will result in sanctions .
If an external business or organization would like a tax deduction for their donation , a monetary donation must be made to the Collin College Foundation . A donation receipt will not be provided if an organization receives donations of items or monetary donations made out directly to the student organization .
Proof of Non-Profit Status If necessary , Student Engagement can provide a letter to the company / donor stating that the organization would not be functioning as a for-profit group . The Student Organization would need to provide Student Engagement with the following information at least 15 college business days before the event :
1 . The legal name of the company / donor 2 . The mailing address of the company / donor
3 . Event for which donation is being made 4 . List of donated items and their cash value 5 . Student organization name
Sample Donation , Sponsorship , and Thank You Letters Cougar Connect provides the following examples in the “ Documents ” tab :
• Sponsorship Request Letter
• Donation Thank You Letter
Agency Accounts
The College District shall serve as the depository and fiscal agent for all registered student organizations . Collin College procedure requires that all financial transactions must take place through approved Collin College accounts .
Any organization that raises funds , collects fees , or incurs expenses must open and utilize an agency account through the Collin College Business Office . A unique account number will be assigned for each student organization .
The Collin College Business Office will assign each new student organization an account number upon receiving the approved Agency Account Set-up Form ( completed during the renewal period ). The Account Set-up Form will include the name , title , and signature of each person authorized to utilize funds from the organization ’ s account . Updated forms are required annually , and anytime approved signatures change .
Each organization must designate a member to act as “ treasurer ” or “ authorized officer ” who is required to :
1 . Maintain accurate records of all deposits 2 . Maintain accurate records of all expenditures 3 . Adhere to Collin College Business Office policies and procedures
Provisions
• Organizations may not keep cash on hand .
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