Funds granted from London Business School to the SA or from the SA to the clubs may not be donated to charity. In short, any balances clubs hold cannot be donated to charity.
Clubs may however donate funds collected from a specific event if it was made clear, at the time of revenue generation, that some of the profits would be redistributed to a specific charity. The exact amount donated should only be determined once all event costs have been covered. It must be noted that only event profits may be donated to charity (for example, the club cannot donate the entire revenue received and use their club balance to cover the costs).
All donations should be approved by the SA finance team before they are paid out to avoid over or underpayment. In doing so, the SA finance team will ensure that the balance of all finance codes related to the event (across collaborating clubs) does not fall into a deficit.
The guidelines for making donations to charities are the following:
- The Finance Code of the event must only be used for the donations collected, any expense related to the event, and the donation itself.
- All donations must be collected in Campus Groups
- The event in Campus Groups should include a disclaimer regarding the income being directed to a Charity and must include the name of the selected Charity
- After collection phase has finished, reach out to safinance@london.edu for the final authorised amount of donation. (Final donation amount will be equal to the income collected minus the stripe fees and any related expense)
Main caveats to keep in mind when executing a donation or fund raising:
- Students cannot hold money in their personal accounts or in platforms on behalf of the Student Association or any of its clubs
- The only way to raise funds in the SA Bank Account is through Campus Groups
- Clubs cannot use their funds/reserves to donate money, only the money they raise specifically for donations
- Donations may be raised on all types of non-professional events only.