A Treasurer’s Checklist
We’ve created this guide and timeline for key financial tasks related to fundraisers that also provides answers to some frequently asked financial questions. Need fundraising forms? Visit Fundraising Resources or call us at 206-987-2153 to receive printed copies of available forms.
You elected new officers. Did you send the names and contact information of your new president and treasurer to the Guild Association? Please do this as soon as possible after your election.
A Few Months Before an Event
You want to hire a caterer. Did you request a state reseller permit from the Guild Association? If you are selling tickets to your event, you are exempt from state sales tax on catering fees, but you must provide the permit to the caterer ahead of time.
A Few Months Before an Event, Then Quarterly
You want to raise more than $5,000 from a raffle. Did you get a state raffle license? State laws recently changed; you must now pay for a license before holding a raffle of this size, and then file a quarterly report based on the raffle revenue for each quarter. Note: Please contact the Guild Association before you proceed with any raffle likely to raise more than $5,000 in a calendar year.
Day of the Event
You awarded a (raffle, door, race) prize worth more than $600. Has the winner completed a W-9 tax form? This is an IRS reporting requirement, and it will save you and the Guild Association time if the winner fills out the form when they collect their prize. Guilds should keep a copy and send a copy to the Guild Association. Pro tip: Print out a few of these forms and have them ready at your prize collection area.
60 Days After an Event
Phew! You just finished a fundraiser. Have you completed a Guild Association Treasurer’s Report? Make sure you do, so we can correctly credit your guild for all that hard work – and know what that check is for when we receive it!
90 Days After an Event
- You collected donations at your event. Did you submit a list of donors and their gift amounts to the Guild Association? This is key information for our records and donor stewardship. Be prepared to share the fair market value of tickets and items auctioned.
- You paid a service vendor more than $600. Did you have the vendor provide you with a completed W-9 tax form? A completed form needs to be filed with the Guild Association so we can provide the vendor with correct tax information.
- You held a raffle. Did you complete a Raffle Report? The Guild Association needs a completed Raffle Report for every raffle you hold, regardless of the total raised.
At the End of Seattle Children’s Fiscal Year (September 30)
Fantastic news! You raised more than $50,000 in the fiscal year! Please let us know so we can file a Form 990 tax return for your guild. Whether you have reached this total before or not, this is a threshold level of fundraising that needs to be reported to the Guild Association.
You received an unusually large donation. Let us know! Before depositing the check, please call the Guild Association.
Thanks for all you do to support Seattle Children’s patients and their families!