BoosterHub

The Booster Club Treasurer: The Financial Goalie for Your Club

In a recent episode of The Boosted Volunteer podcast, BoosterHub founder and CEO Robin Eissler tackled a tough subject: booster club fraud. The episode, titled Preventing Fraud in Booster Clubs, showcases examples of club fund misuse, abuse, and fraud.

Eissler explained why she believes cashless booster club management is the best tool for fraud prevention while also relaying the importance of having a skilled and trustworthy booster club treasurer. Join us as we recap some of the highlights of this fantastic episode.

Real-Life Instances of Fraud

During the fraud podcast, Eissler covered a few examples of booster club fraud. In one, she discussed how booster club officers in North Carolina embezzled $200,000 in COVID relief funds. Eissler also told the story of when an Illinois booster club treasurer maintained two sets of books, which they used to steal $45,000 from their club.

Treasurer oversight, or a lack thereof, played a key role in both these examples. That’s why it’s vital that you have a trusted person holding the role of treasurer at your booster club. Even if you completely trust your treasurer, you should always implement a system of checks and balances to safeguard against errors and misuse.

The Role of a Treasurer in Fraud Prevention

Think of your booster club treasurer as your fraud goalie. They proactively look out for anything suspicious and alert the board to their concerns. A great treasurer also takes the lead on important financial tasks like:

Budgeting
Compliance and reporting
Tax filings
Transparency

That said, you’ve got to give your treasurer the support they need if you want to safeguard your club’s funds from the dangers of fraud. In addition to a checks and balances system that reduces errors, you need user-friendly accounting software and payment processing tools to consolidate all your finances.

Why Go Cashless?

Admittedly, it might be hard to take your booster club completely cashless. However, you should move away from cash and avoid handling it as much as possible to prevent fraud. Going cashless and managing your transactions with a unified booster club software will make life a whole lot easier for your treasurer, too.

From a funds management perspective, going digital simplifies transaction traction. You will have a digital record of every dollar your club earns, drastically reducing the likelihood of fraud.

If a bad apple does make their way into your club, they will have very little (if any) cash to skim from. Only trusted members of your club board will have access to account numbers and funding. By limiting access, you promote accountability and transparency while keeping the money you raise out of the wrong hands.

Want Your Club to Thrive? Find a Great Treasurer

Finding a great treasurer is pivotal to the success of your booster club. The right treasurer will protect against fraud and help you make the most of every dollar you raise. If you’ve already got a treasurer you trust, count yourself lucky, and make sure you take excellent care of this major asset to your club.

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Ways to Fundraise for a Booster Club

Fundraising is perhaps one of the most important functions of your booster club. However, it can be tough to build momentum, especially if you are new to fundraising as a whole. You can also get stuck in a rut and feel like you are running the same two or three events on repeat. That’s when it’s important to mix things up to keep club members and donors engaged, ensuring a steady stream of support for your student-athletes. With that in mind, here are a few ways to raise more money for the student-athletes you support:

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Non-Profit Donation Receipt

Whenever someone donates to your club, you must ensure that you send them a clear receipt so they can take advantage of their tax deduction. These receipts are your club’s way of saying, “Thanks for being on the team,” and they’re essential for keeping records organized. Providing a timely and well-documented receipt also makes your club appear professional and organized. In turn, you’ll be able to more easily build trust with donors and encourage them to give again in the future. After all, donors need to be confident that you’re acknowledging and managing their contributions properly. On that note, here are a few tips to help you create compliant receipts:

Booster Club Best Practices

Booster Club Rules

You certainly wouldn’t sign up for a sports league without knowing the rules of the game, so why would you attempt to run a booster club without a clear set of guidelines? In a booster club, the rules take the form of bylaws, which are policies and procedures that are vital in keeping everyone on the same page, helping to avoid misunderstandings, and ensuring that each member understands their part in supporting the club’s mission. In some cases, these bylaws will spell out who can and can’t be members, as well as who is eligible to serve on the board. Some states even have standardized playbooks that you need to follow. The University Interscholastic League (UIL) in Texas, for instance, has a playbook of its own, covering specific bylaws for booster clubs that support school programs. In any case, here are some tips for ensuring everyone in your booster club plays by the rules so you can have a productive year: