Scholar Chapter Financial Management
HSF will have no involvement nor take any responsibility for any Scholar Chapter’s school
funding, local sponsorship, fundraising, and financial management or internal controls. Any
activities in this area are the responsibility of the local Chapter, its president and the school.
Local school policies, controls and rules should be fully complied with.
School Funding
Scholar Chapters are encouraged to seek school funding for their events. Check the funding
options at your school through your student organization office. Make sure to keep track of all
applications and deadlines, and ensure that all the required documents, including
receipts/invoices, are submitted to your school by the deadline. It is the responsibility of the
Chapter to ensure that all campus policies are met.
The following is a list of potential on-campus funding sources. Look for a similar sounding name
or an office that does comparable work:













Alumni Association
Associated Students
Chancellor or President’s Office
College Student Council
Dean of Students Office
Departmental Funding
Multicultural Center
Parent’s Association
Public Service Center
Student Activities/Life
Student Government
Student Government Finance Committee
Undergraduate Organization Funding Committee
After determining the different opportunities for funding, you should gather additional
information from the various resources about the requirements and process for securing funds.
Below is some information you should acquire when researching potential funding sources.









What is required in order to qualify for funding?
Application?
Endorsement or signatures?
Other qualifications?
Are there any funding restrictions? (i.e. can cover food but not t-shirts)
What are the funding maximums? Is there an annual limit?
Where are the forms available? Where are they filed?
What is the application deadline?
What is the accounting procedure?


How long does it take to process the application?
Is there an opportunity for co-sponsored events?
Remember that part of the fees you pay to your campus go toward student organizations. Make
sure you do your part to maximize these resources.
Fundraising
If a Scholar Chapter chooses to engage in any fundraising activity, it must follow the guidelines
set forth for student organizations by its respective institution. Check with the office that
oversees student organizations for rules surrounding fundraising efforts. Many institutions also
provide a handbook for student clubs that outline this information. Under no circumstance can a
Scholar Chapter utilize the HSF tax identification number, name or otherwise identify local
fundraising as an HSF sponsored effort.
It is extremely important to follow the local guidelines provided by the school as laws on some
fundraising activities (i.e. raffles) will vary based on the particular state.
Keep in mind that you need to:

Check with the student organization office for assistance with finding the necessary
information.

When inquiring about fundraising policies, some questions to ask include:
o
o
o
o
o
o
o
How do other student organizations fundraise?
Are there limitations on how money raised can be used?
What forms must be completed (pre and post event)?
What types of fundraising events are allowed? Not allowed?
Is there a maximum amount of money that can be raised per academic year?
Is there a protocol for managing the funds?
Do you have success stories or things to beware of?
Collaborations
Keep in mind when planning programs that many topics may overlap and certain workshops can
be held in conjunction with another activity or organization on campus. For example, holding a
Shadow Day or FAFSA workshop with a high school outreach event or including a résumé
writing workshop in conjunction with a career night. You may also consider teaming up with
another student organization to host these events. This type of innovation is not only acceptable,
but is encouraged. Co-sponsoring programs exposes the Scholar Chapter to a wider range of
students and is an excellent way to publicize future programs. It is also a good way to split the
costs of events.
When collaborating with other student organizations, departments, centers, etc. it is important
that the role of each group is defined and deadlines are clearly defined from the beginning. Also
make sure to determine how costs will be split and agree on the terms by which the funds for the
event will be provided.
Local Sponsorship
Scholar Chapters are allowed to find local sponsors for their events. Some local businesses offer
aid to student groups whether it is in monetary donations or in-kind donations. It is important
that you keep track of your sponsors, maintain a professional demeanor at all times, thank them
for their donations, and to be considerate of their time. We highly value our sponsors, who are
kindly willing to help us meet our goals of helping our scholars as well as our Scholar Chapters.
Any unacceptable behavior towards our sponsors will require further investigation.
For tips on how to look for local sponsors check out: “Tips for Asking for Business Donations
or Sponsorships.”
Bank Account
A Scholar Chapter bank account may not contain the HSF name nor otherwise represent any
involvement by HSF.
Allowed: Hispanic Scholar Chapter at XXX University
Not allowed: HSF (or the full written out name) Scholar Chapter at XX University
Presidents are encouraged to check with their institution regarding the possibility of opening a
student organization bank account. This option is highly recommended versus opening a
personal account for Scholar Chapter purposes. Each campus has different guidelines, so be
aware of the restrictions with a bank account (e.g. must request funds at least two weeks in
advance).
A student organization account is encouraged to avoid potential problems and any claims of
mismanagement of funds.
Any activities that violate this policy will result in the Chapter losing its status as an official
HSF Chapter and will then preclude any further use of the HSF name, logo or the receipt of
any further assistance.