Rules Regarding Support Raised Funds

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.