When Should Your Club Raise Funds?
Achieve your 4-H team goals by using the 4-H fiscal playbook to raise and properly manage funds.
You and your 4-H team may need to raise funds to conduct educational programs and activities. Do not let fundraising get in the way of postive youth development through fun learning team experiences.
Use these guidelines and the Guidelines for Raising Local 4-H Club Funds before staring your club fundraisers:
- Have a specific purpose for raising and using the funds.
- Avoid using games of chance as a means of raising funds.
- If charging club dues and/or activity fees, list exact amount in your 4-H club by-laws and include how the dues/fees will benefit the membership.
- If using the 4-H Name and Emblem in fundraising or sale of product(s), submit Use of 4-H Name and Emblem Request Form to the County 4-H Educator.
- Contact the County Extension Office and discuss your fundraising plans with the County 4-H Extension Educator:
- To avoid duplication of requests and to help document community support, especially before soliciting for donations.
- To determine taxable status, special permitting, licensing or training needs and appropriate use of the 4-H name and emblem.
What Is the Best Way to Manage Your Club’s Funds?
Accurate financial management is critical for 4-H clubs regardless of the amount of money your club raises or spends. Establish a checking account for your 4-H Club, if you plan to collect money or pay bills.
Follow these simple steps to open your club’s checking account and manage club funds:
- Open the account in the club’s name, not an individual’s name. You will need to obtain an EIN (employer identification number) by completing the SS-4 form. Do not use a personal social security number instead of obtaining an EIN.
- Require two signatures on all checks written. The treasurer and another officer or a club advisor could serve in this role.
- Send bank statements to a non-check signer. After review, give statements to the treasurer to include with financial records.
- Approve all expenditures at a club meeting, before writing the check.
- Keep receipts and invoices with financial records.
- Document all income. File a carbon receipt of cash and list all checks and cash in the Treasurer Book.
- Keep accurate records and give a treasurer’s report at each meeting.
- Audit treasury records and club’s account annually. Use Recommended Audit Procedures provided by OSU Extension.
- Spend money raised for intended purposes to limit carryover funds.
- File IRS Form 990, if gross receipts exceed $25,000.
