A candidate can raise funds for their campaign by holding an event specifically to collect contributions. Such events may include meetings, dances, dinners, or other functions.
There are two ways to collect contributions through fundraising activities:
- Selling tickets to an event
- Receiving donations at an event.
Contributions from ticket sales
The amount you raise through selling tickets is determined by the cost of the ticket minus the cost of the event. For example, if $500 worth of tickets is sold to an event that costs $200 to host, the amount raised is $300.
Contributions from donations
Individuals attending a fundraising activity may make a monetary contribution during the event. The rules that apply to receiving and recording monetary contributions are applicable to contributions received at fundraising events.
It is important to remember that anonymous contributions collected at a fundraising event count toward the $1,500 limit for anonymous contributions during a campaign.
It is illegal to raise funds or collect contributions through:
- a lottery or raffle
- a game of chance (gambling)
- the sale of alcohol
In order to report the contributions received at a function for which tickets are sold, the Official Agent is required to record the following information in Part 4 of Section Three of the Candidate’s Financial Report:
- Price of each ticket
- Number of tickets sold
- Gross revenue of ticket sales
- Gross expense of the function
Any individual monetary contributions over $100 collected at a fundraising event must be recorded along with the donor’s name and address in Part 1 of Section Three of the Candidate’s Financial Report (this is the same page used to record regular monetary contributions).
The number of official receipts issued, as well as the total amount of monetary contributions received at a fundraising event for which official receipts were issued, must be recorded in Part 4 of Section Three of the Candidate’s Financial Report.
Anonymous contributions received at a fundraising event must be recorded as a consolidated amount in Part 4 of Section Three of the Candidate’s Financial Report.