When reporting a fund-raising activity (funded
or locally supported chapter activity) hosted by a Thrivent Financial for Lutherans chapter service team, net funds raised must be reported.
Net funds raised equals the gross funds raised at an activity minus total
expenses incurred.
For example, if a service team raises $6,200 and $200 of that amount is used
to pay expenses for the activity, net funds raised equals $6,000.
Note: If the chapter provides any up-front money to the service team to defray expenses, that amount should be included in the net funds raised.
In addition to net funds raised, the total expenses incurred also
must be reported.
It's important to keep the following in mind regarding funds raised and expenses
incurred:
- All local net funds raised by the service team must be reported,
not only the portion to be supplemented through one of the chapter Care
programs (e.g., if a service team has net funds raised of $6,000 and receives
$2,000 of supplemental funds through the Care Abounds in Communities®
program, the service team must report the $6,000 as net funds raised).
Recording all net dollars raised helps Thrivent Financial illustrate our organization's charitable impact, and it helps us support our fraternal status. Recording
expenses helps show how efficiently we are able to raise money—we have
low overhead costs.
- The entire net funds raised at the activity must be deposited into
the chapter's checking account for Care Abounds in Communities®
program activities. The key is to ensure
that whatever is reported as net income is the same amount that is deposited
into the chapter account so that proper support for data exists.
The net funds raised at the activity must be deposited into the congregation's bank account for Care in Congregations® program activities. Funds must be deposited into the congregation's bank account because this is the sole recipient group for this program.
- If a congregational service team raises gross funds of $100, but uses
some of those funds to pay expenses, it cannot report the gross amount raised
as net funds raised to reach the $100 minimum Care in Congregations® program request. The service team should try to raise more funds or solicit donations
to offset the expenses.
Estimated value of goods contributed
The estimated value of goods contributed (e.g., canned goods, used clothing, gift certificates, gift cards, etc.)
cannot be reported as funds raised. Estimating the value of goods contributed
is not sufficiently valid to warrant using in place of actual funds raised. It
is much more accurate to report dollars raised.
If conducting an activity that is intended for supplemental funding from one
of the chapter care programs, only the cash proceeds (donated cash or money
raised selling donated items) can be supplemented.
Additional topics:
Care Abounds in
Communities®
Care in Congregations®
Cohosting
activities - guidelines and reporting
Depositing funds raised - guidelines and requirements
Funded activities
Nonfunded (locally supported) activities - how to report