Get Connected

Login

Forgot login name or password?

Not registered yet?

Project Fundraising

Simplify Class, Club, or Group Efforts

Looking for a way to organize a fundraising project for your group, encourage classmates to give, or promote a club or class fund? If so, the following information will help. Learn about starting a fundraising project and what the Alumni Fund staff can do to support your efforts in the frequently asked questions below.

FAQ about fundraising projects:

What is a project fund?
A project fund is a type of MIT allocation or account established by a particular class, club, or group for receiving donations in support of a certain MIT cause or undertaking. Ranging in purpose from scholarship or fellowship aid to providing UROP resources or faculty support, such funds are excellent vehicles for generating financial support from like-minded individuals interested in a distinct cause.

How will my group's proposed project fit into MIT's fundraising priorities?
MIT appreciates all gifts for any MIT purpose. However, certain causes top the Institute's list for areas most in need of additional resources to keep the Institute strong. These MIT fundraising priorities are described in detail on the Giving to MIT Web site.

How do I start a new project fund for my class, club, or group?
First, talk to your classmates or fellow club or group members to learn what they care about most. Whether scholarship aid, community service, or another area of interest, your project should be something your class or group wants and is able to support. Next, create a vision. How do you see this project coming to fruition? Finally, contact Krista McCabe, associate director, Annual Fund Leadership Programs, to talk through the steps of organizing a fundraising project, including setting up the fund and developing a fundraising plan.

Who will help my class, club, or group manage our fundraising project?
The Institute has very specific guidelines for establishing a new fund, such as selecting a staff member who can address all project fund inquiries. Often, this point person is an administrative staff member within the MIT department administering the project. Krista McCabe, associate director of Annual Fund Leadership Programs, can help you select this individual and guide you through both the fundraising and management process. Additionally, every new project fund is housed in the MIT department most suited to carry out the fund's purpose. While fund purpose is dictated by the establishing class, club, or group, the selected department is ultimately responsible for the fund's financial administration.

What's the difference between an expendable and an endowed fund?
Expendable or current use funds are typically non-interest-bearing funds. Much like checking accounts, their principal is not invested and can be used immediately. Endowed funds are interest-bearing; principal is invested and only interest can be used to carry out the fund's purpose.

What is the minimum amount needed to fully endow a fund?
The minimum amount needed to fully endow a particular fund varies, depending upon the type of project the fund supports. Thus, a one-year UROP fund will be fully endowed with gifts totaling $235,000, while a scholarship fund will be partially endowed with $50,000 and fully endowed with $500,000. For more information regarding endowed funds, contact Krista McCabe, associate director, Annual Fund Leadership Programs.

How can I help promote my class, club, or group project fund?
The Annual Fund Leadership Programs staff will work with you to develop a communications plan that may include direct mail, email, listing the fund on the Giving to MIT Web site, or phone calls to prospective donors. Each plan will vary depending upon the project's needs and resources available.

When are class, club, or group fund scholars or other recipients announced?
Each year, your class or club will receive a letter notifying you of the recipient of your scholarship, UROP, or professorship. The letter will report on the value of the fund, gift and donor totals for the previous fiscal year, and biographical information about the recipient(s). Club and class fund recipients are STRONGLY encouraged to send a note of thanks to the club or class leaders. You, in turn, are encouraged to develop a relationship with the student(s) or professors who benefit from your fund.

Why does MIT need our support?
While there are numerous examples of need throughout the Institute, the answer depends upon the particular cause for which your group is building support. Many answers can be found on the Giving to MIT site where you will find both a general case for MIT support and more detailed information on the Institute's fundraising priorities.

Will a gift to any fund count in the donor's class, club, or group project?
A gift allocated to a particular MIT fund will not be credited to the donor's class, club, or group project fund unless it is specifically designated to that project.

Will a gift to a specific fund count in the MIT Alumni Fund?
Yes. Alumni gifts of any amount to any MIT fund are considered part of the MIT Alumni Fund and will receive Alumni Fund credit.

Will a gift to a specific fund count toward the donor's class giving total?
Yes. Regardless of gift designation, gifts from alumni with an undergraduate degree from MIT will count toward the donor's undergraduate class giving total. Similarly, gifts from graduate alumni-those whose first degree from MIT was a graduate degree-will count toward the donor's graduate department giving total regardless of gift designation.