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Chip > Banking > Depositing funds raised - guidelines and requirements

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Depositing funds raised — guidelines and requirements

Thrivent Financial for Lutherans wants to demonstrate that active volunteer chapters serve an important purpose in local communities. Accurately reporting the funds generated by chapter service teams helps illustrate the real value of our local chapters. Every dollar reported strengthens our ability to prove that we leverage our fraternal tax exemption to have a greater impact in communities than paying taxes ever could.

Beginning in 2012, we will no longer require chapters to deposit all dollars raised into the chapter's checking account. However, the checking account will still be available to chapters when it makes sense for donors to issue their checks to the chapter.

Here are some guidelines to help determine what "makes sense" for a given activity:
  • The chapter's account is available for depositing checks from donors in those cases where it makes sense. When a chapter service team is coming together to assist an individual in need, for example, it makes sense that checks issued at the event could be made payable to the chapter and deposited into the chapter's account.
  • If chapter is co-hosting an event with another not-for-profit where that not-for profit is the recipient, checks at the event should be made payable directly to the not-for-profit and stay with that not-for-profit. Those dollars SHOULD NOT be sent to the chapter.
  • If the chapter's service team is working with other organization's to benefit a third party, such as the chapter service team joining forces with the church and another not-for-profit to benefit a local food bank, it might make sense to have all donor checks issued directly to the recipient food bank or to the church. If those working on the event feel they'd like to use the chapter's account to collect all the funds raised, they could ask donors to issue their checks to the chapter and the chapter would then deposit those funds.
  • Chapters should no longer ask churches or organizations to send one check for proceeds raised to the chapter.
  • Individual donor's checks made payable to the chapter should continue to be deposited into the chapter's account.
    • Checks should be issued to the chapter. (e.g., ABC Chapter; XYZ Chapter of Thrivent Financial for Lutherans, etc.).  Consider using operating funds to purchase one or two stamps with their chapter’s full name imprinted on it.   This stamp could be loaned to service teams who plan to have donor checks issued to the chapter; and 
    • Include a deposit ticket with the chapter’s correct name and account number; and
    • Balance the deposit ticket.
  • Regardless of whether donors' dollars are made payable to the chapter, the chapter service teams still need to complete paperwork and provide an estimate of the service team's FAIR SHARE of the dollars raised at the event (the amount attributed to their participation), volunteer hours worked, etc., at the event. Refer to CHIP about how to determine the chapter's fair share.
  • A check for the Care Abounds in Communities' funding is sent to the recipient, along with any fundraiser proceeds that were deposited into the chapter's account, when applicable.


The following chart provides various scenarios and provides guidelines for the chapter service team and chapter on depositing funds raised, issuing receipts, reporting donations, etc:

Scenario Deposit Funds into Chapter's Checking Account Service Team Provides Chapter with Receipts for Expenses Report Donations valued at $250 or more for the activity Chapter issues Acknowledge-ments to Donors (receipts) Service Team Complete Report For Funding Activity Results Report Activity Online And issue check to recipient for any dollars deposited to chapter account, including Care Abounds in Communities funding
The chapter's service team co-hosts an activity with their congregation for Lutheran World Relief (LWR) and all donor checks are issued to the church. NO
The church issues proceeds directly to LWR
NO NO NO YES
Report only the service team's fair share of dollars raised & volunteer hours.
YES
Three chapter members come together to form a service team to conduct a fund-raiser for a family in their school who needs money to replace belongings destroyed by fire. All checks are issued to the chapter. YES YES YES YES YES YES
The YMCA conducts a fund-raising 5K Walk/Run and a service team from the chapter comes together to collect pledges for their participation in the walk. Donors make their checks payable to the YMCA. NO

The YMCA keeps the funds raised.
NO NO NO YES

Report only the dollars raised by the chapter's service team and their volunteer hours.
YES
A service team within the congregation works with the congregation to raise funds to purchase food for the local food bank. A portion of the checks are issued to the church, but ten checks are issued to the chapter. YES

Only the ten checks issued to the chapter are deposited in the chapter account
YES/NO

Service teams reporting expenses for an activity should provide receipts to support those expenses. If no expenses reported, no receipts needed.
YES/NO

If the donor's check was issued to the chapter.
YES/NO

The chapter issues acknowledgement for any donation made to the chapter
YES

Report only the service team's fair share of dollars raised & volunteer hours.
YES

If you have questions regarding these procedures, contact the Member Connection Center at 800-THRIVENT (800-847-4836).

Additional Topics
Audit Committee
Cohosting fund-raising activities - guidelines and reporting
Funds: net funds raised—calculating and reporting
Inviting elected officials to chapter events




This is proprietary information that is solely for use by employees, volunteers, and agents of Thrivent Financial for Lutherans in connection with fraternal activities of Thrivent Financial for Lutherans.


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This document was last updated on Monday, February 13, 2012 at 12:02 PM