TEAM FUNDRAISING POLICY - Effective
April 26, 2007
Coastal Soccer Club encourages its teams to raise funds
for special projects outside the Club's regular program.
Examples include purchasing special apparel or financing travel
outside the country. At the same time, the Board of
Directors must ensure that such activity is conducted consistent
with Board policy and conforms to the restrictions imposed by
law upon nonprofit organizations, including Section 501 (c) (3)
of the Internal Revenue Code. Accordingly, the following
rules and procedures shall govern team fundraising:
1. All team fundraising projects must be presented in
writing to and approved, in advance, by the Club's Director of
Soccer.
2. All funds raised by a team must be delivered to the
Club's Treasurer for deposit in a bank account established by
the Club for such purposes, within 7 days of receipt.
3. All checks received in the course of team fundraising
should be made payable to Coastal Soccer Club.
4. All receipts acknowledging charitable donations to the
Club or to an individual team must be signed by either the
Treasurer or the President of the Club.
5. No portion of the proceeds of fundraising may be
disbursed to or for the benefit of an individual player or
family.
6. All fundraising proceeds deposited and held by the Club
shall be paid to the team administrator, upon request, provided
that the fundraising activity does not involve the sale of
merchandise bearing the Club's name or logo. For such
activity, 20% of the gross receipts from sales of Club
merchandise shall be retained by the Club and earmarked for
Board approved field development activity.
7. No team fundraising activity shall be conducted
during the Coastal Summer Challenge without the written approval
of the Club's Board of Directors.
8. The Club shall bear no expense in connection with team
fundraising projects.
