
Fundraising Cash Flow: Managing 50/50s, Raffles, and Team Funds
Effective fundraising can significantly reduce the financial burden on families while building team spirit. However, managing multiple fundraising activities requires careful tracking and clear separation of funds to maintain transparency.
Understanding Fund Types
Operations Funds
Operations funds are unrestricted money that can be used for any team expense:
- General fundraising proceeds
- Surplus from team activities
- Donations without specific restrictions
Restricted Funds
Restricted funds have specific purposes and cannot be used for general expenses:
- Tournament-specific fundraising
- Equipment fund donations
- Memorial or scholarship funds
- Funds earmarked for specific players or activities
Popular Fundraising Activities
50/50 Draws
50/50 draws are highly effective but require careful management:
Best Practices:
- Track ticket sales by seller for accountability
- Record draw results and winner payouts
- Maintain clear documentation for gaming regulations
- Set aside 50% immediately for the prize pool
Common Pitfalls:
- Mixing 50/50 proceeds with general funds
- Poor record-keeping for regulatory compliance
- Not accounting for gaming licence fees
Raffles and Prize Draws
Raffles offer excellent profit margins with proper planning:
Planning Tips:
- Source donated prizes to maximise profit
- Price tickets competitively
- Track sales by individual for incentives
- Plan draw timing for maximum participation
Financial Management:
- Record prize costs separately from ticket sales
- Track net proceeds vs gross sales
- Account for licence fees and administrative costs
Bottle Drives and Recycling
Consistent revenue streams that engage the community:
- Track collection by family or player
- Record depot receipts carefully
- Consider transportation costs in net calculations
Tracking and Documentation
Essential Records
Maintain detailed records for each fundraising activity:
-
Activity Planning
- Projected costs and revenues
- Licence requirements and fees
- Volunteer assignments
-
Sales Tracking
- Individual seller performance
- Payment methods and timing
- Outstanding receivables
-
Financial Settlement
- Gross revenues
- Direct costs (prizes, licences)
- Net proceeds
- Fund allocation decisions
Regulatory Compliance
Different provinces/states have varying requirements for fundraising:
- Gaming licence requirements for 50/50 draws
- Raffle licence thresholds
- Record retention requirements
- Reporting obligations to regulatory bodies
Separating Restricted and Operations Funds
Creating Clear Categories
Establish distinct budget categories in your financial system:
Operations Categories:
- General fundraising revenue
- Unrestricted donations
- Surplus from team activities
Restricted Categories:
- Tournament-specific funds
- Equipment replacement fund
- Player assistance fund
- Memorial or special purpose funds
Fund Allocation Process
- Immediate Classification: Categorise funds upon receipt
- Clear Documentation: Record the purpose and any restrictions
- Separate Tracking: Maintain distinct accounting for each fund type
- Regular Reconciliation: Ensure fund balances match intended purposes
Best Practices for Sustainable Fundraising
Planning and Goal Setting
Annual Fundraising Plan:
- Set realistic revenue targets
- Diversify fundraising activities
- Schedule activities to avoid conflicts
- Plan for seasonal variations
Goal Allocation:
- Determine what percentage goes to operations vs restricted funds
- Set targets for specific needs (equipment, travel, tournaments)
- Communicate goals clearly to families
Communication and Transparency
Regular Reporting:
- Monthly fundraising summaries
- Clear breakdowns of restricted vs operations funds
- Progress towards fundraising goals
- Recognition of top contributors
Clear Policies:
- Written fundraising policies
- Fund allocation guidelines
- Family participation expectations
- Conflict of interest policies
Volunteer Management
Engagement Strategies:
- Rotate responsibilities fairly
- Recognise volunteer contributions
- Provide clear instructions and support
- Track volunteer hours for appreciation
Accountability Measures:
- Clear cash handling procedures
- Regular reconciliation of sales and deposits
- Multiple signatures for large transactions
- Annual review of fundraising results
Technology and Tools
Using TeamBook for Fundraising
TeamBook's features support comprehensive fundraising management:
Budget Categories:
- Set up distinct categories for each fund type
- Track restricted vs operations funds separately
- Monitor progress towards fundraising goals
Transaction Tracking:
- Record fundraising revenues with detailed notes
- Track associated costs and expenses
- Generate reports for transparency
Reporting:
- Create fundraising summaries for families
- Track individual family contributions
- Generate compliance reports for regulatory requirements
Additional Tools
Consider supplementary tools for specific needs:
- Point-of-sale systems for event sales
- Online ticketing platforms
- Inventory management for prizes
- Volunteer scheduling applications
Common Challenges and Solutions
Cash Flow Timing
Challenge: Fundraising proceeds often come in large, irregular amounts.
Solutions:
- Plan major fundraising around known large expenses
- Maintain adequate operating reserves
- Consider advance funding for large purchases with fundraising repayment
Family Participation Equity
Challenge: Some families contribute significantly more than others.
Solutions:
- Set minimum participation expectations
- Offer alternative contribution methods (time vs money)
- Create tiered recognition systems
- Consider need-based adjustments
Regulatory Compliance
Challenge: Keeping up with changing gaming and fundraising regulations.
Solutions:
- Annual review of regulatory requirements
- Consultation with provincial gaming authorities
- Professional advice for large-scale activities
- Detailed record-keeping systems
Financial Planning Integration
Budget Impact
Integrate fundraising into your overall budget planning:
- Conservative revenue estimates
- Plan for fundraising costs and time investment
- Balance fundraising with registration fee requirements
Risk Management
Protect your team from fundraising-related risks:
- Appropriate insurance coverage
- Clear volunteer guidelines
- Secure cash handling procedures
- Regular financial reviews and audits
Conclusion
Successful fundraising requires careful planning, meticulous tracking, and clear communication. By separating restricted and operations funds, maintaining detailed records, and engaging families effectively, your team can build sustainable revenue streams that reduce financial pressure while strengthening team community.
Remember that fundraising should enhance your team experience, not become a burden. Start with simple activities, build systems gradually, and always prioritise transparency and compliance.
Need Help?
For assistance with setting up fundraising tracking in TeamBook or questions about best practices, contact our support team at [email protected].