Strong financial standing is important for putting on engaging events, programs, and activities. Here are our tips and resources for building and managing your chapter's budget.
Create a budget
Meet with your leadership team to discuss what funds your chapter will need for the upcoming year: marketing initiatives, chapter dues, events, speaker fees, supplies, etc.
Secure funds
1. Find out what resource your campus has to support your chapter.
- Register with your school as a club or organization – this generally entitles you to a small budget from your university
- Research other forums for university funding – student activities and affairs, career services, Centers of Excellence, and Dean’s grants and awards
2. Fundraise
Although Net Impact can't extend our nonprofit tax-exempt status to your chapter, under the auspices of the university you should be allowed to raise funds.
- Charge admission at events
- Host fundraisers (galas, raffle nights)
- Host a crowd-sourced silent auction
- Have members donate their time or expertise and invite professors and members of the community to attend the silent auction. Donations can be creative and based on members’ interests. Some examples would be an hour of personal training, a hand-knit hat, a private yoga class, or a foreign language lesson.
- Host a garage sale
- Use it as an excuse to clean out your closet and have members donate their clothes and other home goods.
- Ask for in-kind donations from local organizations
- Ask for donations from chapter and/or university alumni
- Partner with a local restaurant or bar that has a "cause" or percentage night
- Many restaurants will offer to give your organization a certain percentage of sales from customers who show a flyer, especially near college campuses. Check around town for businesses that already offer this.
- Sell products (chapter t-shirts, reusable water bottles, mugs, etc.)
3. Apply for Net Impact programs
- Many of our programs will be executed by Net Impact staff and partner companies at no cost to the chapter. Other programs provide funding for chapter leaders to execute.
4. Go for Gold Status and Chapter of the Year
- Gold chapters and Chapters of the Year receive benefits like conference discounts.
Can I use Net Impact’s nonprofit tax exempt status?
Net Impact global’s nonprofit tax-exempt status does not extend to chapters, so chapters are unable to use Net Impact's tax ID. Tax laws are also extremely strict regarding fundraising and expenditure of funds, so chapter activity that infringes on these laws could cause Net Impact global's nonprofit status to be terminated.
However, your chapter can individually apply for 501(c)3 status if you would like to have more flexibility with forming permanent partnerships and securing cash or in-kind donations. Find more information on formally incorporating your Net Impact chapter and applying for 501(c)status here. For international chapters, refer to your country’s laws in relation to tax-exemption.