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- Tennessee fund-raiser guidelines.Tennessee state contour against blurred USA flag image by Stasys Eidiejus from Fotolia.com
Tennessee's Department of State provides oversight for the state's corporate and individual fund-raiser rules and regulations. Professional fund-raising counsels and charitable organizations are held equally responsible for adhering to the established guidelines. The Department also creates and distributes marketing materials for the general public so that each Tennessean is aware of his rights in regards to contributing to a fund-raiser. - Tennessee's Charitable Solicitations Act requires that all charities operating or collecting monies within the state register with the Tennessee Department of State before they begin to solicit funds. Tax-exempt charitable organizations must provide a copy of their Internal Revenue Service (IRS) Form 990, Form 990N or 990EZ with their registration. Articles of incorporation or organizational by-laws and audited financial statements that reflect the charity's expenses and income, including local, federal and private grants, must also be submitted to the state. Charities must renew their registration with the state six months after the end of their accounting year. Charities that raise money through gaming events must also file applicable gaming fees with the state. Fee levels are determined by the amount of money grossed from the gaming event. For example, as of April 2010, a gaming event that was expected to gross $8,000 was required to pay the state a $300 application fee.
- Professional solicitors who are employed by charitable organizations to solicit funds within the state must complete and file a Professional Fund-raising Counsel application with the Secretary of State. As of April 2010, the fee to file a professional solicitor's registration was $800. The registration is good for one year. Professional solicitors who solicit funds on behalf of other charitable organizations or their own agency are also required to complete a Solicitation Campaign Notice that includes the name and contact information of each person working on the fund-raiser, a written and signed contract between the solicitor and the charitable organization, and copies of the literature that will be used to solicit funds from the public. Completed forms should be submitted to Tennessee's Division of Charitable Solicitations and Gaming. Within 90 days of the end of the fund-raiser, professional solicitors are required to file an audited financial report that details monies raised and spent related to the fund-raiser.
- Fund-raisers that are designed to raise money to help individuals who have experienced a catastrophic illness must establish a trustee to manage monies associated with the fund-raiser before they solicit funds. Trustees must file annual audited accounts with the Tennessee Division of Charitable Solicitations and Gaming. Expenses and monies received must be included in the detailed report. Trustees are required to keep the financial reports for at least three years.
Charitable Fund-raisers
Professional Solicitors
Catastrophic Illness Fund-raisers
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