Are you a NEIU student club looking for funding? Here is a short explanation of the types of funding available to you. Please note that these funds are only available to those clubs reporting under the Student Activities Office umbrella. Further, see your SAO Cluster Advisor or the COC for more detail.
ANNUALLY FUNDED CLUBS BUDGET
* What is it? Clubs who are annually funded will proposal a fiscal year budget to be used for the entire upcoming academic year (July 1- June 30). These clubs do not have access to Event-by-Event funds or developmental funds. Nevertheless, they can create their own Earned Income accounts for monies the club fundraised.
* Annually Funded Clubs: WZRD, Northeastern Programming Board, Student Government, Que Ondee Sola, United Greek Council, Independent Student Newspaper, Black Heritage Gospel Choir
* Parameters: Annual budgets cannot be increased during the year. Further, any changes in budgeted line items need to be approved by the Council of Clubs through a Change of Purpose request form. "Changes of Purpose" are due at least 2 weeks prior to the date of the event/initiative in which the funds are to be used. This form can be found on OrgSync under the "forms" section.
* What is it? All clubs that are not annually funded clubs are considered event-by-event clubs and are eligible for event-by-event funding.
* Parameters: The proposals for event-by-event funding are to be completed per event and are subject to approval by the Council of Clubs. The proposals must be submitted at least 6 weeks prior to the date of the event/initiative in which the funds are to be used. All clubs should meet with their SAO Cluster Advisor for review and advice before submitting a proposal to the COC. The Event-by-Event Funding Proposal can be found on OrgSync under "forms".
* Important: The limit on event-by-event funds is $9,000 per club for an academic year. The limit for a 1-3 day event is $5,400. Also every club will need to show that they can contribute at least 10% of the cost their entire event. These can be funds in their Earned Income account or through co-sponsorship by another club or office.
* Other Sources: The COC only has about $90,000 funds to allocate as Event-by-Event funds (among approximately 75 clubs). Once these funds run out, there will be no further event-by-event funding approvals. Event-by-Event clubs are also eligible for developmental funds and creation of their own Earned Income account where they can deposit and use monies fundraised by the club.
DEVELOPMENTAL FUNDS* What is it? All event-by-event clubs are eligible for developmental funds. Developmental funds are special funds approved by the COC and the SAO Director to be used specifically for club recruitment, marketing, training, and end-of-the-year celebrations. * Parameters: Each club can request up to $100 per semester. These funds do not roll over. They must be used during the current semester. The Developmental Funds request form must be submitted at least 2 weeks prior to event/initiative in which the funds are to be used. The form can be found on OrgSync under "forms."
* What is it? "Earned income" are the funds a club may raise during their fundraising initiatives. All fundraised funds, donations, dues, etc... are to be deposited in the club's Earned Income Account. This is the club's individual account set up through the Student Activities Office.
* Parameters: Earned Income can be used at the club's discretion (except any events/initiatives that are illegal or violate university policy). The club should request access to the funds at least 2 weeks prior to the date of the event/initiative in which the funds are needed. The name of the form on OrgSync is "Earned Income Access Request" form under "forms."
* Important: Earned Income is the only type of funding the roles over year after year. As long as the club is active, these funds are available (even if members change). Please see our financial manager, Lakena Figueroa-Foreman, if you would like an updated balance of your club account.