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FUNDRAISING with MASSB Foundation
The trustees of the MASSB Foundation are available to meet with local DSS boards, and will serve as a conduit for information sharing about projects. Local boards should contact Mark Poerio for information about fundraising activities that are allowable under applicable tax laws.
Financial Coordination between MASSB Foundation and Local Fundraising Committee
For past fundraisers, the flow of contributions and expense reimbursements generally proceeded as follows, with this approach seeming to be suitable for other events:
1. Local board approved an expense budget for the event, and sent MASSB Foundation a withdrawal request that itemized the expected expenses and requested an advance disbursement for the total amount.
2. The local board deposited the $from MASSB Foundation into a DSS lay funds account, and paid reimbursements from that account.
3. The local board sent MASSB Foundation all checks for donations, for deposit to its account -- using this form.
4. When event was done, the local board sent MASSB Foundation both --
* a certification that the advanced funds had been fully and properly disbursed; and
* a withdrawal request for additional itemized funds to be reimbursed to cover event expenses.
5. The local DSS received the MASSB disbursement and then made the reimbursement payments.
Overall, this enabled MASSB Foundation to proceed efficiently by issuing two reimbursement checks, by tracking proper expenditure, and by making ongoing deposits.