BYU Financial Policies
- Chapters are allowed to enter into agreements and/or contracts in behalf of BYU Alumni when such agreements/contracts are associated with activities or events of the local alumni chapter and are held within the chapter boundaries.
- Chapters are to inform BYU Alumni of all agreements/contracts entered into by the Chapter. The following information is needed:
- Name of contracted partner
- Contracted $ amount
- Name of person signing the agreement/contract
- Activities or events with contractual agreements that exceed $6,000.00 must be reviewed and approved by officers of Brigham Young University. Any such contracts are to be forwarded to BYU Alumni prior to being signed.
- Officers of BYU will determine whether such agreements/contracts will be signed by them or returned to the chapter for processing.
- Chapter activities or events that occur outside of chapter boundaries are always subject to review by officers of BYU no matter the cost. Any such contracts are to be forwarded to BYU Alumni.
LDS Philanthropies (LDSP), a department of the church, facilitates all fundraising activities for BYU. The LDSP BYU Annual Giving Center, has two donor liaisons who work with BYU Alumni to assist in their fundraising efforts. They travel throughout the country to thank and inform alumni, donors, and friends about giving opportunities at BYU and other church priorities. They welcome the opportunity to help you with your chapter fundraising needs and can be reached by calling (801) 422-7933.
Please adhere to the following guidelines to ensure success!
- All fundraising projects carried out by the chapters should be pre-approved through the alumni office, and should relate directly to and benefit BYU.
- LDSP records all charitable contributions and prepares official year-end tax receipts on behalf of BYU, a 501(c)(3) non-profit organization. To avoid confusion, checks should be made payable to Brigham Young University, with chapter designation information (i.e., Alaska replenishment grant) in the memo line.
- To avoid tax deductibility problems for a donor, please do not promise that a gift will be a charitable contribution. You can say that a donation may be tax deductible but it is up to the donor to claim the appropriate amount per IRS guidelines.
- Under current IRS regulations, it is not permissible to use a canceled check as documentation of a charitable gift of $250 or more.
- Reports available to chapter leadership from alumni.byu.edu and other sources may include information about those who have given to BYU in the past. This data is confidential and is only shared with you as one element that might indicate their willingness to be of service to the university. Please keep this information confidential.
- LDSP was formed so that donors would not be inundated with appeals for money from the various church entities. Chapter leadership should contact the annual giving office when considering any person-to-person fundraising tactics or any time you want to approach someone with a specific gift ask in mind. A quick and easy clearance process must occur to ensure your plans are in alignment with other fundraising efforts.
A best practice when considering any fundraising activity is to involve the annual giving office donor liaisons at the inception of your plans. They can help guide your efforts to help you meet your fundraising objectives in a positive and effective manner. This contact will help you avoid any surprises or problems before you get too far into the project or event. And when trying to raise significant monies for items such as replenishment grants, their expertise can help make all the difference.
There are two types of activities, those that have a mass audience appeal and those that have an individualized attendance.
These are events that have ticket sales and some level of social or entertainment value, such as cultural performances, sporting events, picnics, tailgate parties, etc. Even though money may be raised from these activities, the ticket price paid by the purchaser is for the event and not considered a donation; individual donation receipts are not necessary in these cases.
There should be a statement on publicity and on the ticket which communicates the following message: Proceeds from this event to benefit the local chapter of BYU Alumni.
These are events that have a clear purpose of fundraising, such as golf tournaments, dinners, etc. Following are policies for events that have as a part of the price a donation that exceeds $10:
- All publicity for the event is to clearly state the purpose for fundraising.
- If the donor is entitled to receive any goods or services as part of the event, please make note of the entitled benefit policy in Step 3c below.
- For tax purposes, the only valid receipt is that prepared by LDSP.
- Chapter leadership is responsible to:
- Create a complete list of all individuals and/or companies that participate in the event. The annual giving office can supply a format that outlines all required information.
- Provide the participants receipts for cash or check payments to show that the funds were received. Keep a copy of all checks and cash receipts; this information will be used by LDSP to prepare tax receipts.
- Entitled Benefit Policy. When a chapter solicits a payment in excess of $75 for an event for which the donor is entitled to receive something of value in return for that payment, the chapter must provide to the donor a good faith estimate of the fair market value of goods and services (green fees, gifts, food, entertainment, etc.) that the donor is entitled to receive. The chapter should further inform the donor that any charitable deduction is limited to the excess of the amount paid over the value of the goods and services provided by the chapter. This information must be provided in a written statement and should be included in the solicitation materials.
- Send the following to your alumni chapter office contact:
- A spreadsheet listing all donors, their contact information, the method they used to pay, the amount they paid and the entitled benefit they received.
- Copies of any checks received or copies of receipts given for cash received.
- An accounting of the expenses for the event. Copies of receipts paid is preferred
- The funds that were raised after the expenses and are now donations to BYU.
- The Alumni staff will deliver everything to LDSP and ensure that your account is properly credited. LDSP will then issue tax receipts based on the information you’ve provided.
Recording all contributions to replenishment grants and events contributes greatly to the BYU Alumni goal of increasing alumni donors.
In the event that you or someone on your chapter board uses personal money to purchase items for a chapter activity, one of the following needs to occur:
- Reimbursement –
- The local Chapter’s bank account should reimburse the personal expenditure whenever possible. The Chapter may use the “Reimbursement/Donation Form” found in the Appendix to help with record keeping.
- If local chapter funds are inadequate, submit the receipt and the “Reimbursement/Donation Form” from the Appendix to Roy Brinkerhoff at the Alumni Office for reimbursement to that individual.
- Donation -- If this is considered a charitable contribution to BYU, the donor should submit a copy of the receipt(s) for the expenditures in order for LDSP to record the gift and issue a receipt to the donor. The receipt copies and the Out-of-Pocket Expenses “Reimbursement and Donation Request Form for Out of Pocket Expenses” found in the Chapter Handbook section of Chapter Pedia. These must be sent to Roy Brinkerhoff at 284 HC Provo, UT 84602-2400 or firstname.lastname@example.org.
If you plan on producing any merchandise with BYU or BYU Alumni logos, for giveaways or resale, you need to contact the licensing department. They will be able to put you in touch with vendors that already have the logos and license to perform these services. They can also help with a one-time only license should that be appropriate.
- Licensing Department: (801) 422-1920 or email@example.com Licensing