FUNDRAISING SETTLEMENT

FUNDRAISING SETTLEMENT

Settlements Download

Organisation Form Link

SETTLEMENT DATE:

BANK ACCOUNT DETAILS
Registration Fundraising
$0.00
Peer to Peer Fundraising
$0.00
ACCOUNT NAME
Event Fundraising
$0.00
BSB
Fundraising Incentives
$0.00
ACCOUNT NUMBER
Administration
$0.00
TRANSACTION DATE
GST Component
0.00
REFERENCE
COLOURBLAST
Registration Fee Sponsorship
-$0.00
THANK YOU FOR FUNDRAISING WITH FUNDRAISE FOR SCHOOLS & CLUBS. WE LOOK FORWARD TO ASSISTING WITH YOUR NEXT COLOUR BLAST EVENT!
Sponsored Entrants
-$0.00
Offline Donations
-$0.00
Colour Blast Invoice
$0.00
Fundraising Settlement
$0.00
[Bank Charge Back]
0.00
REFERENCE
Registration Fundraising -$0.00
Peer to Peer Fundraising $0.00
Event Fundraising $0.00
Fundraising Incentives $0.00
Administration $0.00
GST Component $0.00
Registration Fee Sponsorship -$0.00
Sponsored Entrants -$0.00
Offline Donations -$0.00
Colour Blast Invoice $0.00
Fundraising Settlement $0.00
[Bank Charge Back 0.00]
STANDARD FUNDRAISING + REWARDS (GIFT CARD INCENTIVE PROGRAM)
  • • 65% of funds raised are directed to the school or club for the chosen fundraising initiative.
  • • 25% of the funds raised pay for the incentive gift cards.
  • • 10% (+GST) is the costs associated.
STANDARD FUNDRAISING – NO REWARDS (NO INCENTIVE PROGRAM)
  • • 90% of funds raised are directed to the school or club for the chosen fundraising initiative.
  • • 10% (+GST) is the costs associated.
PREMIUM FUNDRAISING + REWARDS (GIFT CARD INCENTIVE PROGRAM)
  • • 70% of funds raised are directed to the school or club for the chosen fundraising initiative.
  • • 25% of the funds raised pay for the incentive gift cards.
  • • 5% (+GST) is the costs associated.
REGISTRATION FUNDRAISING:
  • If your organisation has opted to fundraise through registrations and either add a positive dollar figure on top of the Colour Blast fee or has opted to charge a fee for the purpose of fundraising, the collected amount will be reflected here if an additional amount is charged on top of the Colour Blast fee.
  • For example, if the Brilliant Blast Premium DIY Pack costs $10 per child, and the organisation charges $12 per participant, the remaining $2 will be added as a positive (+) to the fundraising total. The relevant fundraising program percentages will apply.
PEER TO PEER FUNDRAISING:
  • The funds raised from your participants fundraising profiles and your sponsorships on the Colour Blast fundraising website pages.
EVENT FUNDRAISING:
  • The percentage of funds raised directed to the organisation.
  • The percentage depends on the chosen fundraising program:
  • • Standard Fundraising + Includes Incentives: 65%
  • • Standard Fundraising – No Incentives: 90%
  • • Premium Fundraising + Includes Incentives: 70%
  • • Premium Fundraising – No Incentives: 95%
  • If the organization has chosen to purchase additional items from the funds raised or sponsor participants, the corresponding amounts will be deducted accordingly. For example, if Saint Lauren's sponsors 10 children with $10 each and their event fundraising total is $5,000, the sponsorship amount of $100 will be subtracted from the total, resulting in 4,900.
FUNDRAISING REWARDS GIFT CARD INCENTIVE PROGRAM:
  • Incentives can be significant in motivating fundraisers and increasing the overall funds raised. 25% of the funds raised are allocated to acquiring gift cards, which serve as rewards for fundraisers. For every $20.00 raised, fundraisers earn $5.00 in gift card credit. These credits can be redeemed at over 500 in-store and online retailers and are valid for 3 years. Eligible fundraisers receive their gift card credit via email within 14 days of fundraising closing. For any inquiries regarding gift cards, please contact support@colourblast.com.au.
COSTS & ADMINISTRATION:
  • While we strive to minimise fees and charges, certain costs are necessary to provide our services and products. These include but are not limited to hosting fees, website fees, printing, management, incentive processing, and staff wages. The administration fee covers these expenses.
GST (GOODS & SERVICES TAX) COMPONENT:
  • As per regulatory requirements, we apply GST to our goods and services. GST is applicable to the products (goods) and administration (services) associated with our fundraising services. GST is charged to our 5% administration fee for fundraising services. For example, if Saint Lauren's Organisation chooses the Brilliant Blast Premium DIY + Rewards program and raises $10,000, the distribution would be as follows:

  • 70% ($7,000) goes directly to the organisation or club's fundraising initiative.
  • 25% ($2,500) is allocated to acquiring incentive gift cards.
  • 5% ($500) covers administration fees.
  • The GST on the administration fee would amount to $50, which is deducted from the event fundraising total ($7,000 - $50 = $6,950)
  • If the receiving entity is eligible to claim the GST component, we can provide an invoice showing the GST component of ‘less funds dispersed’. Using this invoice, the entity can claim the GST component back. If you require further clarification, please contact your campaign manager.
REGISTRATION FEE SPONSORSHIP:
  • If the organisation has agreed to sponsor each participant a specific amount using the funds raised, the sponsorship amount will be deducted from the event fundraising. Example: if the Premium DIY Pack costs $10 per child, but the organisation only charges $5 per participant, the remaining $5 will be subtracted from the event fundraising and sit under this section: ‘registration fee sponsorship’.
SPONSORED ENTRANTS:
  • If the organisation has agreed to sponsor a participant in FULL (total amount) using the funds raised, the sponsorship amount will be deducted from the event fundraising and shown here.
OFFLINE DONATIONS:
  • Offline donations are donations received directly by the organisation outside our fundraising/donation platform. These donations can be in digital (online payment, bank transfers etc) or physical (cash) form. The total amount of offline donations will be deducted from the event fundraising, as the organisation is responsible for handling these funds and the offline donation process through the organisation dashboard. For example: Sally Brown is not able to access the internet to donate via the online fundraising platform. Instead, she brings $100 cash to the organisation office as he wishes to make an offline donation. The organisation accepts the $100 cash and track it with our offline donation spreadsheet.
  • The organisation registers the offline donation to Sally in the manage profile section of the organisation dashboard, and the donation is logged to the donation totals for both the organisation and the individual.
COLOUR BLAST INVOICE:
  • If an invoice is relevant to the campaign, its total will show on the ‘Colour Blast Invoice’ line of the campaign summary. Invoices are issued if payment is required for products or services.
FUNDRAISING SETTLEMENT:
  • After calculating the above-listed items, we will provide a fundraising summary within the specified timeframe outlining the final payout figure.
BANK CHARGE BACK:
  • What is a chargeback? A chargeback is like a refund, where a transaction made on a debit or credit card is reversed. It happens when the cardholder/donor disputes the payment, claiming it was invalid or unauthorised. A chargeback could also occur if a donor cancels their card. Any pending transactions on the cancelled card are reversed to the donor.
  • As per our terms and conditions, in an active campaign (fundraising open), if a donor actions a chargeback of their donation, the chargeback amount / donation amount will be deducted from the total funds raised.
  • In an inactive campaign (fundraising closed), if a donor actions a chargeback of their donation, the chargeback amount / donation amount will be charged to, and, payable by the entity/organisation who received the donations.
  • Chargeback periods vary between financial institutions but range from 120-540 days following the initial transaction.
  • Chargebacks are detailed in the donation report.
  • Chargebacks are rare but can still happen. Should you have further questions regarding chargebacks, please contact your campaign manager.