Financing your club

 

Registered Clubs are responsible for the management of all funds relating to their club.  Fiscal management and decision-making processes should be outlined within the constitution of the Registered Club.  Registered Clubs should maintain transparency with the membership of the club regarding the management of funds. Clubs cannot act as an extension of OIST in that they are not covered by liability insurance from OIST.

REFERENCE 16.3.7.3 OIST Support of Clubs https://www.oist.jp/policy-library/16.3.7

REFERENCE 16.3.7.4 OIST Clubs Steering Group https://www.oist.jp/policy-library/16.3.7

 

Funding Opportunities

Registered Clubs are expected to fundraise if the they need funds. OIST does not always provide funds to individual clubs. Please contact Recreation Services to discuss your fundraising ideas so we can assist you in the legalities of fundraising on or off campus.

Bank Accounts

OIST does not specifically encourage or advise Registered Clubs to maintain an off-campus bank account in their personal name.  If a Registered Club chooses to open an off-campus bank account, it is encouraged to utilize the club name.  Please contact local bank branches for more information. Registered Clubs are responsible for any income tax reporting and are encouraged to consult with a certified tax consultant for additional support and guidelines.

Recreation Services budget can store large donations above 100,000 JPY or more for your club’s use. Please make sure the donor provides details on what the donation should be used for. You can have the donation deposited into this OIST account if you set this up ahead of time. Please note that in order to utilize the funds, the accounting section at OIST will need details on the item/ service, vendor, and payment information prior to your purchase. All of this information can be given to you by the Director of Recreation. Please meet before you purchase.

Philanthropy

Philanthropy is the act of donating money, goods, services, time, and/or effort to support a social beneficial cause, with a defined objective and with no financial or material reward to the donor.  Such events also serve as a way to build community among OIST students, staff, faculty, and family members thereof and within the Okinawan community.

Funds raised by a Registered Clubs for an outside entity are to be gifted in their entirety (100%) to the named philanthropy.  Costs incurred to create the philanthropic event must be fully funded by the club before the philanthropy is conducted.  OIST subsidy funds shall not be donated to off-campus interests.

Please report the amount fundraised and delivered to the organization via email to the Recreation Services Section.

Fundraising

Fundraising is considered a normal organizational function.  The funds raised will be managed by the Registered Club and will be managed as directed by the bylaws created by the organization.  If an organization initiative is to donate such funds to a philanthropic organization, they are required to appropriately document all transactions and comply with the OIST - PRP.

Sales

Some clubs have been quite successful in conducting regular concession sales items such as t-shirts, baked goods, flowers, etc.  Please contact Recreation Services for the guidelines if you would like to sell items on campus to fundraise. Items to be sold must be approved by OIST. Please note, a club cannot sell food items without the appropriate Okinawa Food Handling Certification. If having a “bake sale,” you can ask for donation and you must have the liability statement on your advertisements in order to comply with OIST rules and Okinawa rules.

Membership Dues

Registered clubs may collect dues to cover organization expenditures if desired.  Funds collected will be managed by the organization as prescribed by the bylaws created by the club. Contracts, sales, and licensing should always be documented and recorded with Registered Club.