Proper fundraising is the backbone of a successful booster club. Additionally, in order to have a strong and healthy make up of this backbone your club needs to implement the right tools and people for managing booster club accounting and finances.
If your booster club uses the right accounting tools you will be able to utilize various resources that can strengthen, bring value, and provide tremendous help for your booster club….
Booster clubs are one of the best ways to fund events, whether it be for a football team, academic events, or, in the case of this article – a gymnastics team! There are many benefits to take advantage of when you operate a gymnastics booster club….
One of the main objectives and for some, pitfalls, of running a booster club is financing activities through fundraising and other means. A popular and controversial method to raise funds is through booster club pay to play.
On the surface, the concept of booster club pay to play may sound like a good option to fundraise and build steady revenue for a booster club, but there is much more to this concept that is far more problematic….
There are many types of fundraising structures to pick from. We are going to focus on a specific grey area type of fundraising called Cooperative Fundraising. Cooperative Fundraising is a practice, employed by some booster clubs, to receive credit for raising funds. This “credit” is often reimbursed in the form of dollars stored in individual accounts controlled by members of the booster club, rather than the club itself….
Many booster clubs decide that giving out a scholarship is a worthwhile endeavor. And it is- booster club scholarships can give a student a leg-up in the world and relieve financial stress. But are booster club scholarships legal to give out?
There is no scientific method to create the right booster club leadership. Nor is there a magic formula that can transform one either. But strategic structuring and planning provides many opportunities to successfully manage a booster club. To best create and maintain a healthy booster club, is to have the right leadership structure in place to guarantee success….
Managing booster clubs is all about effective leadership. You want to make sure that you are leading your booster club in the right direction. This includes making sure that you are on time for meetings, communicating with booster club members and your associated school and the various levels of government. One area you will inevitibly run across is picking your booster club NTEE codes for the IRS. This can be confusing, so we thought we would break down what they are, why they are important and what happens if you do not pick one!
To run a successful booster club, understanding how to maintain the booster club’s and coach’s relationship is critical. When the school, booster club, and coaching staff know their roles, building a winning culture is a realistic goal. However, sometimes a booster club’s and coach’s relationship strains when, for instance, the coach needs to fundraise for new equipment….
Before promoting itself and garnering community support, booster club management needs to identify how the funds it raises will be used and understand what typical items booster clubs pay for. Booster club support is primarily intended for student organizations, with a slight designated portion of revenue being reserved for booster club expenses, including operational costs and supplies. Some clubs are set up district-wide and oversee everything in a district, while others might be organized to specifically manage donations for a substantial project. Ultimately, the superintendent and/or school principal has final authority in matters of what a booster club can purchase. It is important for the club to understand the culture of the school and policies to ensure the organization complies with district regulations….
When looking for a booster club credit card, it is important to find a card that is right for you. Banks offer a lot of credit cards for small businesses. That does not mean every credit card is right for financing your booster club. When running a booster club, there is a lot to take into consideration. A booster club credit card will act as short term bridge funding for things needed to run a successful booster club such as fundraising, supplies, transportation, office supplies, renting out event spaces, catering, among other things. …