I just got the update from the administration’s meeting about Alumni Interest Group spending from Sarah McMullen. The bottom line is that we will soon be able to accept tax-deductible gifts and donations, and spend that money to fund our buggy-related programs. Whereas before buggy was not considered an educational activity, we now have the go-ahead to sponsor team startups, buy equipment for Sweepstakes, etc.
There will be two accounts; one non tax deductible account for dues, merchandise income and the like, that doesn’t expire at FY end; and another as I described above, with the only catch being that the funds will expire at FY end and go into the University’s coffers.
The latter account hasn’t been set up yet, and this may take a couple of weeks. I’ll keep you posted.