Student Group Funding Council (SGFC)
The Student Group Funding Council (SGFC) oversees the distribution of financial support to all ASA-recognized student organizations, as well as to club sports, FSILGs, and residence hall student governments. The SGFC is responsible for:
- In collaboration with SOLE, establishing funding guidelines and priorities that ensure equitable distribution of resources.
- Reviewing applications from ASA-recognized student organizations, club sports, FSILGs, and residence hall student governments for funding for events and programs\
- Determining appropriate allocations of funding.
While the Institute retains ultimate authority over student organizations’ financial and space resources, the allocation and management of these resources is a collaborative process involving student organizations, their governing boards, and Institute staff.
For additional information, please email sgfc-exec@mit.edu.
Donations
Donations to student organizations are tax-deductible and must be processed through MIT’s Office of the Recording Secretary (RSO), which provides receipts to donors. All donations accepted and acknowledged by MIT are for student organization events and program expenses and may not be used for donations to external organizations.
Donations to student groups can be made three ways:
- Online, using giving.mit.edu.
- Organizations that wish to receive gifts via the Giving@MIT portal must complete the Giving Page Setup Request Form.
- With a physical check.
- If the donor is writing a check, students should instruct the donor to make their checks payable to “MIT <student group name>” and include an MIT Contribution Form with their check.
- Students will be required to provide their student organization’s main account number to the donors.
- Through the MIT Alumni Association.
- Donations of single gifts less than $2,000 from MIT alumni should be directed to and processed by the MIT Alumni Association. The RSO processes all gifts greater than $2,000.
- Students should contact the MIT Alumni Association at aa-students-services@mit.edu before soliciting donations from alumni.
If a student anticipates receiving a “gift-in-kind” from a donor for their student organization, they must notify SOLE by email. Gifts-in-kind are donations of goods, including equipment, art, or historical items. Gifts of services do not count as gifts to MIT for tax purposes. Upon receiving notice, SOLE staff will provide additional instructions for reporting a “gift-in-kind.”
Dues
Student organizations may charge membership dues. However, they must waive dues for members who cannot afford them (in order to comply with the inclusivity requirements for being a student organization).
Fundraising Events
Student organizations may hold fundraising events for their organizations. Fundraising events must comply with all event planning policies and an Atlas registration must be submitted at least 10 working days prior to the event.
Student organizations are prohibited from donating funds received in any form, unless:
- The funds are raised independently by the student organization.
- The student organization clearly communicated the intent of the fundraising event to all participating and donating parties.
If the officers of a student organization are interested in hosting a fundraising event for and/or making a donation to an external organization, they should email SOLE and complete the Donations to Charity Form.
Sponsorships
Student organizations are eligible to enter into financial sponsorship agreements, or engage in non-financial sponsorships, by submitting a Sponsorship Packet Approval Form at least 30 working days prior to the event. Alcohol-related sponsorships are prohibited. All sponsorship agreements need to be formally reviewed and approved by SOLE before funds can be accepted. Sponsorship approval authority rests with the Institute, and not all sponsorships will be approved.
If your organization is planning to host an event involving sponsors, email SOLE prior to finalizing your solicitation materials and sponsorship levels. Events involving sponsorships must comply with all event planning policies. Events involving sponsorships are classified as Complex Events, requiring an Atlas registration to be submitted at least 10 working days prior to the event.
Ticketed Events
Student organizations may charge admission fees for their events. Any events with an admission fee must be ticketed, and organizations must only use AdMIT One or Engage. For more information regarding the policies for such events, see Admission Fees for Events.
Making Deposits
Students can deposit money from ticketed events, the collection of dues, donations, and any other source of student organization revenue. To make a deposit for their student organization, students can pick-up a Bank of America deposit slip from SOLE (W20-500). All checks and cash should be deposited immediately upon receipt. Deposits can be made at any Bank of America branch or ATM. Deposited funds will show up in the student organization’s account within two working days. Students must return to SOLE the yellow copy of the deposit slip and the white deposit transaction confirmation issued by Bank of America staff or an ATM immediately after completing the deposit.