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Rules Regarding Support Raised Funds |
The first thing to know is that AIM is registered as a 501(c)(3) non-profit corporation. This type of corporate status allows AIM to receive donations and provide donors with acknowledgment of those donations which are eligible to be deducted from income for income tax purposes consistent with IRS rules. AIM is also a member in good standing with the Evangelical Council for Financial Accountability (EFCA). AIM’s membership in this organization requires that we meet or exceed all of the ECFA’s standards with regards to how we manage donated funds. There are several misconceptions that many participants have when it comes to the use and management of the funds that they raise. Please take a moment to look through the items below so as to develop a good understanding of how AIM will handle funds that are donated to support your involvement in the mission trip.
o Funds raised belong to AIM and are used by AIM at AIM’s discretion to facilitate AIM’s ministry. The funds you raise will be pooled with the funds raised by other members of your team and used to offset the expenses involved with your trip.
o You’ll have a support account that you will use to keep track of donations that AIM has received on your behalf as well as deductions for trip costs that are taken from the funds you’ve raised. Your support account is a great way for you to track your progress and know who has donated on your behalf. While we are giving you access to the numbers, you need to remember that the funds in the account are not yours and that your support account is not a personal bank account. At no point will AIM allow you to direct the use of those funds.
