Managing Club Finances

Collecting Funds for Your Student Club

Use only approved methods to collect club funds:

• Cash or checks: Deposit with Fuqua Accounting.
• Credit cards: Use FuquaPay only.
• Never collect, hold, or deposit club funds through a personal bank account or payment app (CashApp, Venmo, etc.).

Cash and Checks

Clubs may accept cash and checks for club-related transactions. Count all funds carefully and submit them to Fuqua Accounting as soon as possible.

Include a note with:

• Total cash collected
• Total checks collected
• Club name
• Related event or activity
• Fuqua account number for deposit

Submit the funds and note to Chunyan Han, Fuqua Accounting Office (W103).

Credit Card Payments

FuquaPay is the only approved way for student clubs to accept credit card payments.

Do not use other payment processors, including Square, CashApp, Venmo, etc., for club transactions. If your club is collecting registration fees, selling tickets, or accepting another type of credit card payment, follow the process in the Event Registration Platform.

Do Not Use Personal or Third-Party Payment Accounts

Club funds may not be collected, held, or transferred through:

• Personal bank accounts
• Personal Venmo, Cash App, or PayPal accounts
• Eventbrite, PayPal, or other third-party payment platforms established by the club

This includes temporary “pass-through” use. Do not use Duke’s tax identification information to create a payment-processing account.

Event Registrations

For events requiring registration or payment, use the Event Registration Platform.

All event-related credit card payments must be processed through FuquaPay. If you are unsure which collection method applies, contact the Office of Student Life before collecting funds or setting up a payment method.

Fundraising

Fundraising is generally restricted at Fuqua, with limited exceptions. Before planning a fundraiser for your club or a nonprofit organization, contact the Office of Student Life.

Contact the Office of Student Life before promoting or collecting donations from students. This includes money, food, coats, gifts, or other goods.

For charitable drives or fundraising initiatives, also connect with the MBAA VP of Service/Sustainability before marketing to the Fuqua community. This helps ensure initiatives are coordinated appropriately across Fuqua.

Please note:

• Duke/Fuqua funds cannot always be donated directly to another nonprofit organization.
• Using Duke’s tax ID to issue donation receipts requires advance approval from the Senior Associate Dean and is permitted only in limited circumstances.

Contact OSL early so we can help determine what approvals or processes may be needed.

FuquaPay: Event Registration and Ticket Payments

FuquaPay is Fuqua’s only approved platform for collecting event registration fees and ticket payments by credit card. Payments are deposited directly into your club’s fund code.

To request a FuquaPay ticketing site, complete the FuquaPay Request Form and review the Fuqua Event Registration Platform Guidelines.

Before You Submit Your Request

• Submit your request at least three weeks before your event to allow time to build the registration page.
• Plan for a no-refund policy. Refunds are limited and require advance approval.
• Consider whether North Carolina sales tax may apply when setting your ticket price. Note: Most social event require 7.5% sales tax.
• A 2-3% credit card processing fee will apply to all ticket sales.
• Create a corresponding event in FuquaConnect to promote it to the Fuqua community. Set FuquaConnect RSVP settings to “No One” and include the FuquaPay registration link in the event description.

Questions? Contact the Office of Student Life.

What does a FuquaPay site look like?

Default information requested from customer are first name, last name, and email address.

BLUF: Plan ahead whenever possible. Fuqua’s Finance Department can coordinate vendor payments and contracts so students do not need to pay out of pocket.

All club expenses must be approved by club leadership, typically the club’s treasurer and must follow the MBAA Reimbursement Policy.

WAYS TO MAKE PURCHASES (in order of ease to you):

Option 1: Request Fuqua Finance Support

This is the preferred option for vendor payments, contracts, and payments for services (such as DJs or photographers) and club swag/promotional products.

Submit the MBAA Student Organizations: Financial & Contract Services Request Form at least two weeks in advance.

Note:

• Students cannot sign contracts on behalf of Duke, Fuqua, MBAA, or a student club.
• Do not promise a vendor a payment date; timelines vary and new vendors may require additional processing.
• Payments to students for MBAA-related work are generally not permitted. Any exception requires advance approval from MBAA and Fuqua Finance and may be tax-reportable.
• Contracts may require additional Duke review, depending on the agreement and dollar amount.

Option 2: Pay Personally and Request Reimbursement

If an expense has been approved in advance, you may pay personally and request reimbursement.

1. Complete the appropriate reimbursement form (see options below).
2. Include original receipts and proof of payment.
3. Combine the form and all supporting materials into one PDF.
4. Email the PDF to mbaatreasury@duke.edu.

Do not use cash-transfer apps, such as Venmo, Zelle, or Cash App, to pay individuals for club expenses. Provided all required information is submitted correctly, reimbursements typically take 2-4 weeks.

Before making a purchase, confirm your bank information and mailing address are current in DukeHub. Reimbursements are issued through direct deposit when “Direct Deposit of Refunds” is enabled; otherwise, a check will be mailed to the address listed on your form.

• • Miscellaneous Reimbursement Form
  • Travel Expense Reimbursement Form
  • Cash Prize & Award Form (e.g., Marketing Brand Challenge and Case Competitions)

For complete requirements, review the MBAA/Fuqua Club Reimbursement Policy.

Signing Contracts

Students cannot sign contracts on behalf of Duke University, Fuqua, MBAA, or student clubs.

Submit all contracts through the MBAA Student Organizations: Financial & Contract Services Request Form. Fuqua Finance will coordinate the required review, approvals, and signature.

Spending Guidelines

MBAA has maximum allowable costs for items such as gifts, club swag, meals, alcohol, and travel.

View the MBAA Spending Guidelines

Questions? Contact the MBAA Treasurer at mbaatreasury@duke.edu.

NEVER solicit an individual at an organization for a personal contribution to your club, even if the person was a member of your club during their time at Fuqua.

Before You Reach Out

Do not ask an individual at a company for a personal contribution to your club, including alumni or former club members.

Before contacting a company, connect with your club’s CMC Staff Liaison for guidance on the company’s recruiting strategy and current engagement at Fuqua. Corporate Relations also provides club co-presidents with multi-year sponsorship and engagement histories to help identify appropriate opportunities and

Only officially charted Daytime MBA Student Clubs can engage specific companies on potential engagement and potential corporate sponsorship support ($) within this clearance framework:

Club co-presidents must make the initial outreach or sponsorship request. Cabinet members may manage the relationship after that initial contact.

Company budgets for business-school sponsorships are often finalized between May and August, so plan outreach accordingly.

After a Sponsorship Is Secured

All invoicing and collection of corporate sponsorship funds must be managed by Corporate Relations.

Once your club receives a sponsorship commitment, email Ginger Blackley with:

• Company name
• Contact’s name, title, email address, and phone number
• Company’s physical address (required for the electronic invoice)
• Club name
• Sponsored activity or event name
• Event date
• Sponsorship amount
• Student club contact name and email address
• Final version of the pitch or solicitation materials used to secure the sponsorship

BLUF: Depending on the event, your club may need to collect North Carolina sales tax (7.5%) on ticket sales. Contact the Office of Student Life and Fuqua Accounting before setting ticket prices or selling tickets if you are unsure whether tax applies.

Cash and checks may be accepted for ticket sales. 

Educational Events That Include Meals

When an educational event includes a meal, sales tax applies to the meal portion of the ticket price.

You may either:

• Sell separate tickets for the event and meal; or
• Sell one ticket that clearly identifies the event cost and meal cost.

If you sell one ticket, indicate that tax is included in the meal cost. Keep in mind that tax will be deducted from sales revenue, so account for it when setting ticket prices.

Non-Educational and Public Events

Tickets for non-educational events are subject to 7.5% North Carolina sales tax. Events promoted to the public will likely also be taxable and should be reviewed by Fuqua Accounting before tickets go on sale.

Examples of taxable entertainment activities include:

• Sporting events
• Live performances, films, shows, and exhibits
• Museum, cultural-site, garden, or guided-tour admissions
• Fundraising events
• Lectures sold to the public
• Meals sold by ticket

A lecture open only to students is considered educational and is not taxable unless a meal is included.

Reporting Sales Tax

If tax applies, send Fuqua Accounting the total taxable sales after your event. Fuqua Accounting will report and remit the tax to the state, then charge the tax amount to your club fund code.

If tax is not listed separately during registration, the ticket or registration page must state that sales tax is included in the ticket price.

For related payment requirements, review the Collecting Funds section above.