Help with recieving financial pledges

Kevin · #1 05-01-2002, 09:23 AM

My chapter just recieved its charter in March. We're currently working on setting up a campaign to raise money over whatever amount of time it takes to get it. We're going to be seeking out contributions from actives and alumni.

I have heard that there are companies out there who can administrate pledges over a period of time. For example: Alum X wishes to donate $5000 over 3 years. We need a company that can set up something to draw $46.30 from his credit card every month.

If anyone has worked with a company like this, please let me know how I can reach them.

Thanks

Kevin
MT #5
University of Central Oklahoma

ZZ-kai- · #2 05-02-2002, 12:22 PM

If you set up a bank account for your chapter, you can have actives/alumni deduct XXX amount of money from their paycheck everytime they get paid (assuming their employer offers automatic deposit). Or, if your chapter has a website and a bank account, you can set up a PayPal account, and receive donations that way too. People can pay on PayPal via Credit Card and Debit Card. (PayPal is just an electronic way to pay/receive funds....eBay is a HUGE PayPal user)....the downfall of PayPal, is that every time someone donates, there is a 3% charge....but, its a free service.....

Our chapter uses both methods, and it proves to work great.

Kevin · #3 05-03-2002, 10:23 AM

You wouldn't happen to know of any company that will actually send a statement for this though? I did contact Omega Financial (many of you know who that is) and they're currently developing a program like this... So I'd have to assume there are other programs like it around the country.

LHT
Kevin

ZZ-kai- · #4 05-03-2002, 04:13 PM

I am not sure what you would need a statement for?? If you do an auto-deposit, it would be right on their check stub....and if you do PayPal, it will show up in their ledger and bank statement. If you are talking about a receipt of some sort for tax deductions, the only way it will be a tax deductable donation is if you have a specific account set up for educational purposes. Donations for a House do not count....but, donations for the purpose of a library or computer room would be tax deductable.

Hope this helps!

Rudey · #5 08-10-2002, 11:11 PM

Quote:

Originally posted by ktsnake
You wouldn't happen to know of any company that will actually send a statement for this though? I did contact Omega Financial (many of you know who that is) and they're currently developing a program like this... So I'd have to assume there are other programs like it around the country.

LHT
Kevin

Did you end up using Omega?

-Rudey

Kevin · #6 08-12-2002, 11:24 AM

Nope and we won't end up doing it either. Omega's program is not ready. Our HQ also just announced that they are working on a program to collect pledges exactly how we want AND have it be tax deductable.

So... problem solved.

Omega has not even sent me the information packet I requested several months ago.

finances · #7 03-10-2003, 03:12 AM

Theta Financial Services can and will administrate donations (among other financial issues you may have). See their general info at thetafs.com