- Sponsorship funds must be deposited into an existing Foundation fund that supports programmatic or discretionary items.
- If proceeds are intended to go to a scholarship, they can be moved over to a scholarship fund at completion of the event/sponsorship timeline.
- 5% of all total event sponsorship proceeds must remain in the designated fund.
- Keep this in mind when developing your sponsorship levels.
- This money remains in your area鈥檚 foundation fund for use, it is NOT a fee from the Foundation.
- 5X社区 (through an index) will receive the funds and handle vendor payments.
- Student and Faculty/Staff awards must be issued by the university.
- If sponsorships are tied to ticketed events, the minimum ticket price must be $5.
- A sponsorship will only count as a gift (with tax deductibility) when it鈥檚 made by an individual. Any organization participating in a sponsorship will count as voluntary service credit and will not receive tax benefits.
- DPAE will determine the tax deductibility amount based on the value of goods and services received for the sponsorship.
- The Foundation cannot issue a 1099 for a student or faculty/staff award.
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