IEEE Region 3 Leadership Development Committee Section Treasurer Training

Principles of IEEE Financial Operation

1. Sections may accept contributions for the general use of the Section.
    
2. If the contributor wishes to restrict the use of the contribution, the Section must obtain approval from the IEEE Executive Committee.
    
3. If contributions of securities are received, the Section must contract the IEEE Financial Services Department for advice.
    
4. Sections wishing to apply for grants from Foundations or government agencies must contact the IEEE Grant Administrator for assistance.
    
5. In the US contributions to IEEE and Sections are tax deductible by the contributor. The value of any goods or services provided in exchange for the contribution must reduce the charitable deduction. Following is a sample letter for contributors:
    

Dear ____,

On behalf of the Institute of Electrical and Electronics Engineers, Inc. (IEEE), I would like to thank you for your donation of $___ to the IEEE ____Section. Contributions such as yours are a critical part of the support for the scientific, educational, and professional activities of our organization.

In the United States, the IEEE is an organization qualified under the Internal Revenue Code 501(c)(3) and donors are eligible to make tax deductible contributions as provided in Section 170 of the Internal Revenue Code. This is to certify that no goods or services were provided in exchange for this donation. Please keep this letter as a receipt for your contribution.

Thanks again for your generosity and we look forward to your continued support.

Sincerely yours,

Name, title

6. 5. For additional information or advice, contact

IEEE Financial Services
1 732 562 3860
k.galuchie@ieee.org
www.ieee.org/services/financial/grants/

Previous Section Next