Background

Fundraising activities of the Fanshawe College Foundation include events such as the annual Fanshawe College Golf Classic and the annual Fanshawe College Gala Dinner. This policy provides direction on the proceeds from such fundraising activities.

The Policy

1. The proceeds of the annual Fanshawe College Golf Classic shall be allocated as follows:
1.1 Proceeds from the event shall first be used to fund 100% of the direct operating costs of the event;
1.2 From the net proceeds, up to 15% of gross revenues shall be allocated towards administrative costs of the Fanshawe College Foundation;
1.3 All remaining net proceeds shall be directed towards the College's General Student Bursary fund.
2. The proceeds of the annual Fanshawe College Gala Dinner shall be allocated as follows:
2.1 Proceeds from the Fanshawe College Gala Dinner shall first be used to fund 100% of the direct operating costs of the event;
2.2 From the net proceeds, up to 15% of gross revenues shall be allocated towards administrative costs of the Fanshawe College Foundation;
2.3 All remaining net proceeds shall be directed towards the highest priority need supporting students as identified by the College, and approved by the Board of Directors of the Fanshawe College Foundation.
3. The proceeds of all other fundraising activities shall be allocated as follows:
3.1 Proceeds from the event shall first be used to fund 100% of the direct operating costs of the event;
3.2 From the net proceeds, up to 15% of gross revenues shall be allocated towards administrative costs of the Fanshawe College Foundation;
3.3 All remaining net proceeds shall be allocated at the discretion of the Board.

Monitoring

The Corporate Secretary-Treasurer shall provide an annual report to the Fanshawe College Foundation Board of Directors demonstrating the allocation of contributions from fundraising activities.

 

Fanshawe College Foundation

Board of Director's Policy Manual

Category D- Board-Operational Expectations

Title: Contributions from Fundraising Activities
Policy Number: D-34
Effective Date: 2012 12 12
Reference: 10-C.2, 2405