Fundraising is a vital part of many dance programs. But if not done properly, it can have an adverse impact on your organization’s assets. Discuss your fundraising goals with your insurance agent, accountant, and attorney to clarify any insurance, tax, and legal implications associated with your event.
You are responsible for keeping people safe at your event. With a clear focus on safety, analyze your event from start to finish. Inspect the location you plan to hold the event for hazards that may need to be repaired or cordoned off prior to the event, including the parking lot. Determine how you will manage activities, entertainment, food and beverages (including alcohol), attendees, security, emergency support, and people who need special accommodations.
It is a good idea to identify key personnel and assign them to specific tasks. Managing the safety of your event may require a team approach, with various people taking responsibility for different aspects.
If you are working with partners or vendors, be sure everyone understands their responsibilities. Obtain certificates of insurance from all vendors indicating that they have liability coverage with limits equal to or greater than what you carry, preferably provided by an ‘A’ rated carrier. Review any contractual indemnification clauses like hold-harmless agreements or waiver of subrogation clauses with your attorney before agreeing to them.
Know your donors. Know what they are donating and have a clear understanding of what large contributors may expect in return. Also know the reputations of large contributors and evaluate how accepting their donation may reflect on your programs. If you plan to accept donated material goods for resale, discuss potential limitations and exclusions of your policy with your insurance agent.
For more information about fundraising and steps you can take to ensure a successful fundraising event,
visit the Association of Fundraising Professionals’ website at afpnet.org.
The information provided in this article is intended for general informational purposes only and should not be considered as all encompassing, or suitable for all situations, conditions, and environments. Please contact us or your attorney if you have any questions.