Financial guidelines and procedures may be found on the Controller's Office website at:
http://www.professor.rice.edu/professor/Welcome4.asp

The following information pertains to C-funds

Opening a C-fund
Registered student clubs may open a C-fund under the Rice University Banner System. Clubs will be able to access their c-fund online and receive training on the banner system so they can view their transactions and process reimbursements for their members. Contact the Office of Student Activities to discuss opening a C-fund for your club. (Jones School clubs should contact the Jones School and Club Sports should contact the Recreation Center.)

Who should read this?
The information below is intended for presidents and treasurers of student clubs with C-funds (BANNER funds) (except Club Sports and Jones School clubs whose finances are managed by the Recreation Center and the Jones School respectively.)

BANNER Access/C-Fund Signature Authority forms
To initate BANNER access, please begin by filling out the Banner Security Agreement Form. You will be contacted by Admin. Systems via email as to how to obtain your password. The process to approve you in the BANNER system takes about two weeks.

For Signature Authority on your C-fund, make sure you have signed the paperwork in the Student Activities Office. This will enable Payment Solutions and the Cashier's Office to verify that you are authorized to sign transactions for your C-fund.

Troubleshooting--If you are having trouble navigating the BANNER system after you have read the procedural information below, you can ask for help with processing paperwork as follows:

Payment Solutions X6700
Controller's Office X2478
Student Activities Office, RMC Cloisters, X4097

Purchasing/Reimbursement Process

Tax Exempt Form
Make sure your club members are aware that they should use the tax exempt form (available from the Controller's website) when purchasing supplies for your club. Student orgs are tax exempt and should use the tax exempt form to avoid paying tax on items. Tax paid will not be reimbursed.

Itemized Receipts
Rice University requires itemized receipts which must detail exactly what was purchased. Ask the vendor to itemize the receipt. Non-itemized receipts or missing receipts will require a Missing Receipt Affidavit to be signed by the Director of Student Activities or Assistant Dean of Student Life.

Reimbursement procedures to pay your members for expenses incurred:

Receipts equal to or less than $100.00, use the

• Petty Cash form (available from the Cashier's Office or Student Activities)
• Use this form to reimburse members for receipts equal to or less than $100.00.
• Each individual receipt must be $100.00 or less, but you can attach more than one receipt to the petty cash form.
• List the receipts on the form and total them.
• Fill out the fund/org/account information. If you do not know your C-fund number yet, call the Office of Student Activities. The Controller's Office can give you information about account codes, or you can refer to a folder in the Student Activities Office.
• The club president should approve the petty cash form if they have completed the signature authority form. If not Student Activities should approve the form.
• You cannot approve your own reimbursement.

If any receipt is for food for a club meeting or club entertainment, then you will have to attach a Student Organization Business Meeting/Entertainment form to that receipt (see below).
Make copies of the receipts for your files.
Take the petty cash form to the Cashier's Office, Allen Center (M-F, 7:30 am to 3 pm). The Cashier's Office will give you the cash reimbursement which you will have to disburse to your members.

• Business Meeting/Entertainment Form
• If any receipt is for club food or entertainment, regardless of the amount of the receipt, then you will need to fill out a Student Organization Business Meeting/Entertainment Form (available from Payment Solutions X 6700 or Student Activities).
• List the type of event, place of event and the names of people who were at the meeting, or attach a roster if the meeting was for all club members. For large, open invitation events, attach a copy of the flier.
• Fill in the C-fund information. The person requesting the reimburement should sign the form and the treasurer can approve it, provided he/she has received BANNER training .

• If the amount is $100.00 or less, then the transaction will be petty cash. Check the "other" box on the Business Meeting/Entertainment Form and write in "petty cash". Attach the receipt to the Business Meeting/Entertainment Form. Take to the Cashier's Office with the petty cash form if $100.00 or less, for a cash reimbursement.

• If the amount is over $100.00, then check the "Issue check payable to" section, give the name of the person receiving the reimbursement, the student id of that person, and the address where the check is to be mailed. Attach the receipt and send to Payment Solutions - MS-70, who will then issue a check.

Non-entertainment reimbursements/payments over $100.00
• Use a check request form, available on line if you have gone through BANNER training, or in paper format from Payment Solutions or Student Activities. Fill in the date, name of person/vendor, address. Give a short detailed explanation of what the check is for. Attach a receipt or some other backup information that states the amount of the check, i.e. tournament registration form, etc. Code to your C fund, get the appropriate approvals on the form, and attach your receipt/backup. Send the check request to Payment Solutions, MS-77, who will then issue the check directly. If payment is to an individual or student you will need their SS# or student id.
Only use a check request when you are NOT expecting an invoice from the vendor.

Receipts for the reimbursement of alcohol
Any club seeking reimbursement for the purchase of alcohol through their C-fund, must have the Student Judicial Programs Alcohol approval form attached to the receipt. Receipts without this approval form will not be reimbursed.

Payment for Professional Services
Payments for professional services, eg. for speakers, musicians, etc. must be paid with a check request form (see above) or by invoice. You will need to ask for a W-9 form from the person you are paying. Any contract for services (or any contract your club wants to engage in) should be signed by the Director of Student Activities. If you are paying a Rice student who is currently paid by Rice (on the Rice payroll), then that student will need to generate a Student Personnel Action Form to receive payment. |

• Invoice from a vendor (should have an invoice number and address).
Write your C fund/org and account on the invoice and "okay to pay". Sign and date under the C fund. Send to Payment Solutions for the check to be issued.

Deposit Form
Deposits (i.e. Club dues money, t-shirt sales, etc.) can be taken directly to the Cashier's Office for deposit to your C fund. You will need to fill out a deposit form (available from the Student Activities Office or the Cashier's Office). Enter the amount of the cash and/or checks and write in your C fund/org and choose a revenue (50000) account code. You will need an extra photocopy of the checks for the Cashier's Office.

Donations
If you receive a donation for your club, DO NOT DEPOSIT TO YOUR C-FUND. The donation must go through the Office of Student Activities. Bring your donation in and Student Activities will send it to the Development Office earmarked for your club. Development Office will then issue the donor with a tax receipt. Once the check has been processed and is available in the Student Orgs Gift Account, then it can be transferred to your C-fund, provided you provide proof of a thank you note to the donor.

Interdepartmental Transfer Form (IDT)
The IDT is used to transfer money from one BANNER fund/org to another. For example, if the Office of Student Activities purchased an ad in the Thresher, an IDT would take care of the transfer of funds from the Student Activities fund/org to the Thresher fund/org. Another example would be to share funding with another club for an event. IDTs can be initiated in the Student Activities Office.

Contracts
Payments for contracts are usually made on a check request form. Club officers or members are not authorized to sign contracts for their organization. Contracts will be signed by the Director of Student Activities, after consultation with Rice General Counsel. General Counsel may make changes to the initital contract which will be approved by both parties involved. This applies for contracts involving speakers, rental of outside venues for speakers, etc. . Clubs should contact the Director of Student Activities if they have any question about signed agreements or contracts. Arrangements for signing and payment of contracts should be made well in advance of the event.

Purchase Order
Use a five-part purchase order form for services or goods equal to or greater than $5000. Purchase order forms are available in the Office of Student Activities. A purchase order should be completed at the inception of a purchase (as opposed to the completion). Purchase orders can also be used for pre-paid orders. The green receiving report on the purchase order must be signed when goods/ services are received, only then will the Controller's Office issue a check.

Travel
Travel reimbursements should be completed in the Office of Student Activities. The Office of Student Activities should be informed when student organizations are planning any form of travel (see travel information). Original receipts should be saved (air fare passenger receipts or electronic ticket, itemized hotel bills, auto rental, parking) and returned in a travel envelope following the trip. Travel envelopes are available in the Office of Student Activities.

Creating Financial Statements

BUDGET
Every club should have a budget which should be a careful plan of expenditures and revenues for the year.

1. First examine the records provided by the past treasurer. Last year's BANNER or income statements can serve as a tentative budget for the year.
2. Meet with the organization's officers to discuss if last year's funds were properly allocated. Consider new ideas for fundraising and new expenses. Incorporate them into this year's budget.
3. Be realistic. Confirm that funds will be available for the upcoming year. When budgeting always underestimate income and overestimate expenses.
4. Create a spreadsheet of your working budget.
5. If you would like help or advice, consult with the Office of Student Activities.

FINANCIAL STATEMENT
You can download a financial statement from the BANNER system into an excel format (delete the columns that are not useful to you). If you prefer you can generate a monthly statement (when all business for that month has been posted, usually ten days after the end of the month.) You should also maintain a list of outstanding expenses/revenues which have not yet posted to BANNER so you have an up to date balance of your C-fund.

Treasurer Responsibilities

END-OF-SEMESTER REPORTS
The treasurer of record is responsible for turning in an end-of-semester report at the end of each academic semester to the Office of Student Activities. This report is due on the last day of classes. If this information is not turned in by the deadline, the account will be closed and all remaining funds will be transferred to the Clubs Office account. The following information must be included in the report:
• a copy of the most recent C-fund banner statement
• a copy of the club's income statement to date
• a description of discrepancies between the two statements

Tips for Effective Financial Management

STAY UP TO DATE
It is impossible to make good financial decisions without knowing how much money you have. Reconcile your BANNER statements monthly and set aside an hour or two every week to prepare for your organization's meetings.

BUDGET
It is crucial that your club budget money carefully at the beginning of each year. If your organization has different committees, each committee should have an individual budget.

KEEP A SAVINGS CUSHION
Even if your club has a very small budget, keep some money in reserve. When budgeting, always underestimate income and overestimate expenses.

KEEP RECORDS TOGETHER
It is very important for the treasurer to keep organized records. To keep receipts, BANNER statements, etc. in order, invest in a three ring binder or set of folders.

DEPOSITS
The best opportunity for theft is with cash, so deposit any cash/checks quickly. Club dues, sales of t-shirts, etc. should be deposited to your C-fund asap. Make it clear that you are not responsible for cash unless it is handed to you in person; advise members of your club not to leave cash in your mailbox or in any unsecured place. Use a deposit for to deposit any collected cash immediately. Deposits can be taken to the Cashier's Office, Allen Center, M-F, 7.30 am to 3 pm.

If you are responsible for counting cash have someone else do it with you and have them co-sign the deposit form. If someone is giving you cash, require them to fill out the deposit request form, and count the cash yourself before you deposit it.

RECEIPTS
Rice University requires itemized receipts for purchases that will be reimbursed through the BANNER system or petty cash. The best way to make sure that people keep receipts is to never reimburse them without one. It's that simple. Ask your members to obtain a duplicate receipt from the vendor. A missing receipt affidavit is available in the Student Activities Office when all attempts to obtain a duplicate receipt have failed.

KNOW THE RULES
Make sure you are familiar with the rules governing treasurers and club finances. Read the SA Bylaws and the bylaws of your club to see how money is to be handled and spent. Also, be aware that the Honor Code applies to all club activities.

D-FUNDS (blanket tax organizations)
Clubs with a University internal account should meet with their staff advisors on a regular basis to review internal accounts.

PASS ON INFORMATION
This is of the utmost importance: give all information and financial records to your successor. Take time to train the new treasurer and answer questions. Make sure s/he fills out the forms for BANNER training so that s/he has online access.

Rules Governing Club Finances

Remember that the Honor Code applies to all club activities. In addition, the Student Association Constitution and Bylaws (required reading for all candidates for student-elected offices) contain rules about student organization finances. To download a copy of the SA constitution, visit their website at http://sa.rice.edu.

ARTICLE F-2: FINANCES OF STUDENT ORGANIZATIONS
Section 1. All student organizations shall submit to the Office of Student Activities income statements for the semester by the final day of each semester.

Section 2. The financial records or books of all subsidiary student organizations may be audited by the Internal Auditor of the University.

Section 3. Each student organization shall maintain an inventory list for all purchases of equipment or furniture valued at greater than 100 dollars which is to be made at the end of each semester. The organization shall submit a report containing the inventory list and noting any discrepancies to the Treasurer and to the Office of Student Activities.

BY-LAW G: GENERAL PROCEDURES
ARTICLE G-1: FINANCIAL POLICY
Section 1. Financial records
Each student organization must keep a record of all expenditures and income and submit this record with the organization's most recent bank statement to the Office of Student Activities by the final day of each semester. This record must be balanced with the submitted bank statement.

Section 2. Oversight
The Treasurer of the Student Association may inspect the financial records of any Registered Organization at any time.

The Recreation Center administers the Club Sports Budget and C-funds through the Club Sports Office x5398 or clubsprt@. Student representatives of the Club Sports Committee will allocate the funds provided under the direction of the Club Sports Committee. Each club must be registered with clubs sports and the Office of Student Activities.

The sports clubs should supplement University funding through their own resources. Funds for the sports clubs normally come from the following sources:

1. university funding
2. membership dues
3. on-campus fund raising activities
4. off-campus solicitation (permitted only in special circumstances and requires permission of the Director of Student Activities)

The Club Sports Committee will normally fund the following expenditures within budgetary limitation and depending on the type of club:

1. entry fees and dues
2. officiating costs
3. equipment and uniforms
4. travel expenses on a limited basis

Clubs will be responsible for funding the following:

1. coaching and instruction
2. promotion and publicity
3. food while traveling
4. awards
5. other/miscellaneous

University funds are requested and allocated as follows:

1. All registered clubs submit a budget to the sports club administrator in early September.
2. A Club Sports Committee meeting is held to discuss allocations and department policies.
3. Funds are awarded to each club for the academic year.

Before funds from the budget can be disbursed, all club sports must have completed the following:

1) Club Sport Registration Form
2) Budget Proposal Form with Equipment and Supplies Wish List
3) Equipment inventory
4) Completed membership list
5) Participation Agreements for each active member
6) Fall Space Usage Request Form
7) Copy of Fall Schedule
8) Driver record with signature for each driver of a rented, leased or university operated vehicle
9) Travel cover sheet for each trip the club takes

These forms can be accessed from the Club Sports website.

All reimbursements from the club sports budget or club sports C-funds are handled through the Recreation Center (contact Teresa Tucker (ttucker@).

Every undergraduate student pays a fee to blanket tax organizations. Check with the Office of Student Activities for the fee amount for your organization. Early in the fall semester the cashier's office will issue blanket tax checks based on the typical enrollment for that semester and again in the spring semester. The cashier's office will automatically transfer a portion of the fee to the D-fund for those clubs with internal expenses. The remainder of the fees will be deposited to the organization's C-fund. The Office of Student Activities will email you when the deposits have been entered into BANNER.

Transactions from D-funds can only take place with the signature of your advisor. If you have any questions about your D-fund, please contact your advisor.

CLUB FUNDING
With the exception of blanket tax organizations, Most clubs are NOT funded by the University on a yearly basis. For this reason, it is often necessary for clubs to raise funds, both to cover operating costs and to sponsor special events and projects. Possibilities include charging members a nominal fee and co-sponsoring events with other clubs. Clubs are expected to come up with their own creative ideas for raising funds.

FUNDRAISING
Provided below are some thoughts on how you can approach the concept of fundraising as well as some examples of things to get your brain-storming started. Before you begin you should be able to answer the following questions:

1. What do we want to accomplish with this fundraiser?
a. This should be the first question your group considers.
b. You need to understand how the money will be used so you can explain to others what your goals are.

2. Who is the audience for the fundraiser?
a. Students
b. Faculty and staff
c. all of the above
d. Establishing your target audience will give you a clearer vision of how to promote your event.

3. What is the financial goal for this fundraiser?
a. You need to know at the beginning what your end goal will be.
b. Do not forget to factor in your initial/start up expenses.
c. It is important to know how much money you may have to invest up front before you see a return.
d. Knowing how much money is needed upfront will give you a clearer picture of how you will proceed.

4. How much time and energy can you devote to this fundraiser?
a. Raising funds takes time and energy.
b. Is your organization setting realistic goals when it comes to the project?
c. Do you have enough people who are willing to put in the time necessary?
d. Have you given your group a reasonable amount of time to achieve your goal?

Now that you have answered these questions, it is time to begin brainstorming ideas for what your group would like to do. Always remember you have to tailor your event to campus and your target audience. With that in mind your group should do the following:

1. Determine fundraising categories
a. Ongoing - events that raise funds over a period of time and are often sales oriented.
b. Event specific - an event that occurs once and can incorporate services.

2. Establish fundraising goals
a. Assemble a budget

i. For the fundraiser
ii. For the event it supports.

b. Develop a realistic picture of the income and output required to conduct the fundraiser.

3. Create a checklist
a. Include everything, such as advertising, decorations, paperwork, pre event deadlines, reservations, timeline, post event thank you notes, etc.
b. Make sure all group members have a copy of the checklist.
c. Remember that you will probably be running the fundraiser along with your regular events. It is an additional responsibility that may require you to adjust your events.
d. Plan for advertising and publicity needs.
e. Be clever with promotion and don't forget to remind participants how the proceeds will be used and the benefit(s) they get by contributing.
f. Publicize your results.

4. Evaluate
a. Assess the overall value
b. Determine whether it was worthwhile
c. Write up recommendations for what went well, what could be done better, timeline adjustments, etc.
d. Review the questions you addressed when you began planning to see if you met or exceeded your goals.
e. Was this fundraiser worth the effort involved? Or was it a drain on everyone?

5. Follow up with participants
a. Ask them to contribute to the evaluation
b. Send thank you notes.

Here are some potential ideas to help you brainstorm your options. This list is not all-inclusive.

Arts and Crafts
Balloon Drive
Birthday Cake delivery
Candy Bar Kits
CandyGrams
Car Wash
Clean an Apartment/Room
Coupon Book Sale
Dance-a-thon
Dances
Date Auction
Donut Sale
Face Painting before athletic event
Game Booths
Guess the jelly beans in jar (or similar)
Holiday Sales - flowers for Valentine's Day
Key Chains
Make your own Tie-Dye
Penny War
Singing Telegrams
Silent Auction
Spare Change Drive
Used Book Sale (non academic books)
Work a day at alumni/faculty/staff home

NOTE: Sales of books, stationery, supplies, and novelties are reserved for the campus bookstore, food for Rice Catering, and all items at athletic events for the Athletic Office. Plans to sell any items should therefore be approved by the Office of Student Activities before anything is begun.

NOTE: If your fundraising plans involve the sale of taxable items (i.e. articles of clothing) see Sales and Sales Tax Exemption Section.

Working with the Athletic Department

Clubs can seek fund raising opportunities in the athletic department during both fall and spring semester. Fall opportunities include:

1. Clean up after football events for $500. You will need 20-25 students for this four hour duty.

2. Volleyball games need rotators (people who throw the ball back to the server), about $15 per match.

In the spring:

3. Baseball games - post game clean up. You will need 10 students for approximately a two-hours duty. Pay is around $100.00.

For more information contact Mickey Beavan in the Athletic Department at X8785 or mbeavan@rice.edu.

GRANTS

CLUB SPORTS
What does this support and who can apply?
Registered Club Sports only. For more information on what a club sport is go to: http://www/rice.edu/clubsports

How and when to apply? Budget requests are usually due very early in the fall semester. For more information conact Club Sports at X5398 or clubsprt@.

COMMUNITY SERVICE GRANT
What does this support and who can apply? The funds allocated to this grant are intended to help community service organizations (such as Habitat, ESL Tutoring, ROMP, etc.) to establish and develop their programs and help individuals initiate community service projects.

How and when to apply: There is one deadline for both the fall (mid September) and spring (late January) semesters. For more information, please contact the Community Involvement Center at X4970, or refer to http://cic.rice.edu/csg.

DR. BILL WILSON STUDENT INITIATIVE GRANT
What does this support? The grant provides support for an innovative or entrepreneurial student project to improve student activities or campus life. In particular, this grant hopes to improve the infrastructure for undergraduate activities. The award is up to $5500.

Who can apply? The money can be used for any worthwhile student project, however, salaries and/or travel will not be supported. BE CREATIVE.

How and when to apply? Proposals are due on a date to be determined each fall. Any Rice student may submit a proposal. Proposals can be sent to the College Master, Wiess College, MS-738.

ENVISION GRANT
What does this support? Awarded proposals promote service, foster leadership development, demonstrate creativity, and plan for sustainability. Projects are not restricted to efforts on campus and can benefit a community of the student's choosing.

Who can apply? Envision offers an avenue to fund individual projects. Students are encouraged to utilize the program as an opportunity to be visionary and bold. Student organizations are NOT eligible to apply for this fund

How and when to apply? During each academic year, students have three opportunities to submit proposals for funding to a committee of faculty, staff, and students who select award recipients. The application should be filled out and submitted according to guidelines at www.ruf.rice.edu/~leading/leaderpages/envision.html.

PRESIDENT'S PROGRAMMING FUND
What does this support? The primary goal of this fund is to support annual events, help establish new events, and provide support for advertising events that benefit the greater Rice community. This includes, but is not limited to, advertising expenses, cultural events, social events, speaker honoraria, etc.

Who can apply? Registered student organizations only.

How and when to apply? There are four deadlines for fund allocation - two per semester. Please follow this link for more information: http://www.ruf.rice.edu/~stact/choosefunds.html.

STUDENT ACTIVITY FUND
What does this support? The fund was established by Rice students through blanket tax fees to provide funding for events of a cultural, educational, or otherwise valuable nature. This includes, but is not limited to, cultural events, student travel, conferences, speaker honoraria, tournament fees, etc. In addition, this fund also considers special student projects that are not necessarily coordinated by a student organization that may benefit the entire student community.

Who can apply? Student organizations or individuals.

How and when to apply? There are four deadlines for fund allocation - two per semester. Please follow this link for more information: http://www.ruf.rice.edu/~stact/choosefunds.html

POST EVENT REPORTING FORM FOR PRESIDENT'S PROGRAMMING FUND AND STUDENT ACTIVITIES FUND
Following an event sponsored by the President's Programming Fund and/or Student Activities Fund, clubs are required to submit a post event reporting form, available online at www.ruf.rice.edu/~stact/PPFSAFEventReport.htm. These reports may be used as a guide for future officers planning similar events.

SOLICITATION

For sources outside the campus community, you must seek the approval of the Office of Student Activities. No individual student or club, except the colleges, may solicit funds through advertisements, patrons' bids or otherwise, from anyone other than active student members of the clubs, without prior approval of the Assistant Director of Student Activities. The approval process involves both the Office of Student Activities and the Development Office. The process will take at the very least one month so you must plan ahead. Please follow the steps below to expedite the process:
1. Determine why your group is seeking money, what the money will be used for, and what your monetary goal is.
2. Brainstorm a list of businesses and/or individuals that your group feels would support this effort.
3. Generate a solicitation letter. The letter must include the following:

a. Name of your organization
b. Purpose of your club
c. Reason you are contacting the recipient
d. Statement of what you want from the recipient
e. Expanation of what you will do with the donation.
f. Tax deductible statement - e.g. Rice University is a not for profit entity and your generous donation to a Rice student organization is tax deductible. If you would like to receive a receipt from Rice, please make your check payable to "Rice University" indicating (insert your organization's name) on the memo line.
g. Mailing addresses for the donation.
h. Benefits the donor will receive.
i. How to contact your club should the donor desire to do so.

4. Narrow down your list of potential sponsors and research contact information.
5. Submit the solicitation letter AND your list of potential sponsors to the Director of Student Activities, as an email attachment (kate.abad@rice.edu).
6. The Office of Student Activities will work with you to revise your solicitation letter should that be necessary.
7. After the letter has been finalized the Office of Student Activities will seek final aproval for your letter and list of potential sponsors.
8. You will be notified by the Director when your letter has been approved.
9. After you receive this notification you may mail out your letters. Your group is responsible for the costs asociated with printing and postage.

Please note that members of the Board of Governors and Rice University associates shall not be solicited. Money collected through solicitatioin should only be used for the operations and activities of the soliciting club. Soliciting funds for use by another non-profit organization is not acceptable.

NOTE: No individual or group may use the name of Rice University or its colleges for solicitation without prior approval of University officials via the process outlined above.

Important Monetary Information
Remember, if your club is raising money for a specific project, you need to raise all the money before beginning the project. Also, before beginning the project, you should meet with the Director of Student Activities to clarify any rules and regulations for fundraising or solicitation that may apply.

NOTE: Sales of books, stationery, supplies, and novelties are reserved for the campus store, food for Rice catering, and all items at athletic events for the Athletic Office. Plans to sell any items should therefore be approved by the Office of Student Activities before anything is begun.

NOTE: If your fundraising plans do involve the sale of taxable items (articles of clothing or tangible items), please refer to "Sales and Sales Tax Exemption."

MONETARY DONATIONS
The Student Activities Office maintains a gift account for deposits of monetary donations to student organizations. Donations sent through this account enable donors to receive a tax receipt from Rice University. Rice University then has a fiduciary responsibility to make sure that the donor's money is spent as stipulated by the donor. If a donor receives any type of compensation (t-shirt, ticket, etc.) for their donation, the money MUST NOT be deposited into the gift account.

Clubs receiving donations should:

1. Bring the donation to the Office of Student Activities for deposit into the student organizations gift account.

2. Make sure you include the following information with your gift (taken from the procedures of the Development Office):

• A memo specifying the purpose of the gift, the dollar amount received, whom to acknowledge for the gift, and the address of the individual(s).
• The check made out to Rice University or description of the gift (e.g. auction item donated).
• The original letter from the donor which accompanied the check. (If there is no letter accompanying the check, copies of any correspondence that led up to the gift should be sent, along with a memo signed by the person who has the most direct knowledge of the donor's intent).
• Any other documentation that clarifies the intent of the donor or restrictions on the gift.

NOTE: If the information sent to the Development Office is incomplete, the gift will be placed in a clearing account until the information is complete. Funds will not be available until the necessary information is received.

Once your donation has been entered into the Banner system and appears on the Student Organization Gift Account, Student Activities will initiate a transfer of the donation to your C-fund, providing you show proof of an acknowledgement to your donor (a thank you note to the donor, etc.). Bring your thank you note(s) to the Office of Student Activities for mailing. Your money will then be transferred to your C-fund.

NOTE: Club Sports should deposit their monetary gifts/donations with the Recreation Center and Jones School Clubs with the Jones Program Office.

DONATIONS OF PROPERTY
To obtain a tax receipt for someone who has donated property to your organization (equipment, etc.) bring the following to the Student Activities Office for submission to the Development Office:

• A description of the property.
• The name and address of the donor.
• Approximate value of the property. (Rice will not assign a value to the receipt, but they do need an approximate value estimated by the donor. If the donor claims that the property is valued at over $5,000, then he/she must get an appraisal and provide Rice with a copy.)

Sales Tax and Tax Exemption

All registered organizations, including nationally-affiliated organizations, may use Rice's tax exemption status for items purchased within the state of Texas. This includes items such as office supplies, party and event supplies, t-shirts, etc. Just present your tax exemption form, which is available for download at http://www.payment.rice.edu/otherpages/sales_tax_form.pdf, to the vendor, and you may purchase items without being charged sales tax. It is the responsibility of the treasurer of your organization to log all of your tax-exempt purchases, a This tax exemption applies if your club meets the following criteria:

• The organization must be created for religious, educational, or charitable purposes if no part of the net earnings of the organization beneifits a private shareholder or individual.
• Items purchased, leased, or rented are related to the purpose of the organization/college and are therefore property of Rice University.
• The primary purpose of the organization is a purpose other than engaging in business or performing an activity designed to make a profit.

Issues become more complicated if you try to resell items after you purchase them, because your tax exemption only extends to buying goods, not to selling them.

When you resell items, you must charge the buyer sales tax (unless the buyer is another tax exempt organization). For example, if you're fundraising by selling T-shirts, then part of the price you charge the buyers must include sales tax, which the State of Texas requires you to collect and report.

However, the amount on which you charge sales tax varies. If you buy an item tax-free and then resell it, the State of Texas requires sales tax to be paid on the entire cost. If you pay tax for an item when you buy it, though, then the State of Texas only requires sales tax to be paid on the profit you make since you've already paid sales tax on the base cost.

Good News - The State of Texas allows every registered student organization to raise funds by selling items tax-free one day a month. That means that one day every month. all the money you collect selling your goods is completely your own, and you do not have to pay sales tax on it. When you sell your items at times other than your single tax-free day, however, you must collect and report sales tax. Please see the Student Activities when taking on such an undertaking to ensure that tax laws and reporting are being coordinated.

Follow these steps if your club is considering buying items for resale:

• Stop by the Student Activities Office for advice and to pick up a form on sales tax reporting.
• Fill out the form and obtain the signature of the Director of Student Activities.
• Keep the form to fill out in detail your sales record, noting the tax free day (usually the day you sold the most items).
• Calculate the sales tax required. Turn the sales tax amount owed in to the Office of Student Activities along with a copy of the completed sales permit.

NOTE: In addition to being a Rice policy, this procedure is in acknowledgement of the laws of the State of Texas.