Questions about a charity golf tournament?
Thursday, May 20th, 2010 at
1:25 am
I am planning a charity golf outing to raise money for cancer research. Is it ok to use some of the fund raising money earned to pay towards the event and then give the rest of the proceeds to our charity? Or should it be out of pocket?
Like this post? Subscribe to my RSS feed and get loads more!
I wouldn’t see a problem with it as long as you let the competitors know that only X% of the entry fee is going to charity. Just a statement along the lines of "All net proceeds from the tournament will be donated to Z corporation for cancer research" would be sufficient IMO.
Usually Charity Golf Tournaments are paid out like this (example only);
Income (Sponsor Donations and entry fees) = Sponsors – $2,000.00 + Entry Fees $5,000.00 ($50 per payer x 100 Players) = $7,000.00
Subtract – Greens Fees ($30.00 per player x 100 Players) = $3,000.00
Prize Money (or Prize Purchases) = $1,000.00
Food & Drinks (If offered) = $1,000.00
———————-
Total Expenses = $5,000.00
$7,000.00 Income less $5,000.00 expenses = $2,000.00 profit for the Charity.
It’s pretty simple math and there is no need for a disclaimer. It would be nice, however, to maybe let the participants know at the after dinner that $xxxxx amount will be donated. It lets them know that their contribution is appreciated. Good Luck, hope it does well!