Student Group Funding Council
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 at MIT. 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 in 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 host fundraising events in support of their organization’s activities. All fundraising events must comply with MIT event planning policies, be planned with SOLE at least 30 days in advance, and get registered in Atlas at least 10 working days before the event. Funds raised by student organizations are for the benefit of the organization itself. If there is an expectation that funds will be donated to an external organization, the following conditions apply:
- The funds are raised independently by the student organization.
- The organization clearly communicates the intended use of funds to all participants and donors in advance.
If officers of a student organization are interested in hosting a fundraising event for, and/or making a donation to, an external organization, they must:
- Email SOLE Finances at sole-finances@mit.edu, and
- Complete the Donations to Charity Form.
All fundraising proceeds are considered Institute funds and must remain within MIT’s financial system.
Sponsorships
Sponsorships involve financial or non-financial support provided by an external organization (outside of MIT) to a student organization, typically in exchange for benefits provided by the student organization. Sponsorships are distinct from fundraising and follow a separate approval process to a student organization, typically in exchange for recognition or visibility. Sponsorships are distinct from fundraising and follow a separate approval process.
Student organizations seeking sponsorships must submit a Sponsorship Packet Approval Form at least 30 working days prior to the event. All sponsorship agreements must be formally reviewed and approved by SOLE before funds or materials may be accepted. Approval authority rests with the Institute, and not all sponsorships will be approved.
The following apply to sponsorships:
- Alcohol-related sponsorships are prohibited.
- Events involving sponsorships are classified as Complex Events.
- An Atlas registration must be submitted at least 10 working days prior to the event.
- Events must comply with all MIT event planning policies.
Organizations planning to solicit sponsors or include sponsorship recognition in event materials should email sole-finances@mit.edu prior to finalizing solicitation language, sponsorship levels, or promotional materials.
Events involving sponsorships should be planned with SOLE at least 30 days in advance and registered in Atlas at least 10 working days before the event.
Ticketed Events
Student organizations may charge admission fees for their events. Any events with an admission fee must be ticketed, and organizations are required to use Engage for processing. 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. 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.