Your homeschool organization probably looks for extra ways to bring in money. Carol Topp, the Homeschool CPA, shares ideas for easy fundraising in this episode of the Dollars And Sense Show podcast.
Easy fundraisers show notes:
Coupon and reward programs
Box Tops. Need 501c3 status
Shopping reward like Kroger Plus program
E Scrip
Food as a fundraiser
Pizza sales, bake sales to members
Candy, popcorn sales to public could impose a reporting to you state’s AG office
Restaurant (Chik-Fil-A) give a percent of proceeds from one night to your organization
Dinners as fundraisers
Donations
Via email, website, crowd funding, etc
Read-a-thon or walk-a-thon
Car washes and bake sales
Sell products
Ideas at TopSchoolFundraisers.com
Used curriculum sale. Charge an entrance fee, or a table fee to the sellers (or both!)
Reporting the Fundraiser income:
The IRS considers fundraisers to be unrelated to your nonprofit purpose and therefore, subject to taxation. Exceptions to the Unrelated Business Income tax:
- Under $1,000 income from fundraisers in a year
- All volunteer labor (no hired help to run the fundraiser)
- Not regularly carried on
- Selling donated items
State may require reporting to their attorney General if you sell to the public or solicit donations from the public. Usual exceptions are: only sales to members, a dollar threshold ($25,000 is common), all volunteer labor, but these vary by state.
Warning: No Individual fundraising accounts!
See https://homeschoolcpa.com/scouts-dont-allow-individual-fundraising-account-and-neither-should-you/
More information:
Money Management in a Homeschool Organization book
Blog posts on fundraising: https://homeschoolcpa.com/tag/fund-raising/
Article “Easy Fundraisers for Homeschool Groups” at https://homeschoolcpa.com/leader-tools/articles/
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