SayPro Sponsorship and Crowdfunding Agreements: Copies of All Sponsorship Contracts and Crowdfunding Platform Agreements.

To ensure a thorough and transparent approach to fundraising, it is crucial that SayPro maintains clear and detailed records of all sponsorship agreements and crowdfunding platform contracts. These agreements serve as the foundation for understanding the terms, expectations, and commitments between SayPro and its sponsors or crowdfunding partners. They provide critical details regarding the rights, obligations, and financial arrangements tied to fundraising activities, ensuring that all parties are clear on what has been agreed upon.

The sponsorship and crowdfunding agreements, as part of SayPro’s audit preparation process, should be organized, reviewed, and accessible to internal teams and external auditors for verification and compliance purposes.

Below is a detailed breakdown of the key elements of SayPro Sponsorship and Crowdfunding Agreements, which should be kept in the organization’s records for audit purposes.

1. Sponsorship Agreements

Sponsorship agreements outline the terms between SayPro and corporate sponsors, individual benefactors, or partner organizations that support fundraising events or campaigns. These agreements ensure mutual understanding of the sponsor’s financial contribution, rights, and the benefits they will receive in return for their support.

Key Components of Sponsorship Agreements:

• Sponsor Information:
  • Sponsor Name: The full legal name of the sponsor or sponsor organization.
  • Contact Information: The sponsor’s address, phone number, and primary contact person for the sponsorship agreement.
  • Sponsorship Level: The agreed-upon level of sponsorship (e.g., platinum, gold, silver, bronze), which corresponds to different benefits and financial contributions.
• Sponsorship Amount:
  • Total Contribution: The agreed financial support that the sponsor will provide to SayPro, either as a one-time donation or recurring payments for a period (e.g., annual sponsorship).
  • Payment Schedule: The agreed timeline for when payments are due (e.g., lump sum at the start, installments, or based on specific milestones such as event dates or campaign progress).
  • Payment Method: The method by which the payment will be made (e.g., check, wire transfer, credit card, or through a donation platform).
• Sponsorship Benefits:
  • Marketing and Branding: The agreed-upon marketing or advertising benefits for the sponsor, including logo placement, event signage, mentions in promotional materials, social media shout-outs, or inclusion in event programs.
  • Event Tickets: Any tickets or invitations to events that will be provided to the sponsor or their representatives as part of the sponsorship.
  • Recognition and Acknowledgment: Details about how the sponsor will be recognized publicly during events, in print materials, or on digital platforms.
  • Exclusive Rights: If applicable, the sponsorship agreement may outline any exclusive rights to certain aspects of the event or campaign, such as exclusive access to certain media or event features.
• Terms and Conditions:
  • Event or Campaign Description: A brief description of the event or campaign that the sponsorship is supporting.
  • Sponsor’s Responsibilities: Any specific obligations the sponsor has to fulfill (e.g., providing a logo, marketing materials, or guest speakers for the event).
  • SayPro’s Responsibilities: The duties of SayPro in terms of delivering sponsorship benefits (e.g., displaying logos, sending tickets, offering media exposure).
  • Termination Clause: Conditions under which either party can terminate the agreement, including any financial penalties or requirements for returning sponsorship funds.
  • Indemnification and Liability: Provisions regarding indemnification, insurance, and liability in case of any legal issues or disputes.
• Confidentiality Clause:
  • Confidential Information: If applicable, a confidentiality clause that outlines what information will be kept confidential and how it should be handled (e.g., financial data, proprietary information).
• Signatures:
  • The signed contract, typically signed by representatives of both SayPro and the sponsor, confirming that both parties agree to the terms of the sponsorship agreement.

Importance for Auditing:

• During audits, sponsorship agreements should be reviewed to ensure that funds are received in accordance with the terms, and that the sponsorship benefits provided align with what was agreed.
• Ensure that sponsorship funds are allocated appropriately and used only for their intended purposes, as per the agreement.

2. Crowdfunding Platform Agreements

Crowdfunding platform agreements outline the terms between SayPro and the platforms used to raise funds online (e.g., GoFundMe, Kickstarter, JustGiving). These agreements provide details on how funds will be collected, processed, and disbursed, as well as the terms of service for using the platform.

Key Components of Crowdfunding Platform Agreements:

• Platform Information:
  • Crowdfunding Platform Name: The name of the platform used (e.g., GoFundMe, Kickstarter, etc.).
  • Account Details: The account information associated with SayPro’s use of the platform, including usernames or account IDs.
• Platform Fees and Costs:
  • Platform Fees: A clear breakdown of fees charged by the platform, typically as a percentage of the total funds raised or a flat fee per transaction. This includes:
    • Processing fees (e.g., credit card fees)
    • Service fees
    • Withdrawal fees (e.g., to transfer funds to a bank account)
  • Fee Structure: Whether fees are deducted before or after funds are disbursed to SayPro.
• Fund Disbursement:
  • Payment Schedule: The frequency with which funds raised on the platform are transferred to SayPro (e.g., weekly, monthly, or after the end of the campaign).
  • Payment Method: The manner in which the funds will be disbursed (e.g., bank transfer, PayPal, or check).
  • Minimum Threshold: Any minimum threshold for funds to be transferred, if applicable.
• Campaign Information:
  • Campaign Description: The details of the crowdfunding campaign, including the specific cause or project being funded, the campaign’s goals, and its timeline.
  • Fundraising Goal: The target amount SayPro aims to raise through the platform.
  • Funds Usage: A statement of how the funds raised through the platform will be used, such as specific programs or projects.
• Crowdfunding Platform Responsibilities:
  • Platform Support: The platform’s commitment to providing necessary support, including troubleshooting, customer service, and platform management.
  • Donor Communication: Terms regarding how donors will be communicated with via the platform, including acknowledgment emails or receipts.
• SayPro’s Responsibilities:
  • Campaign Management: SayPro’s obligations in managing the campaign page, keeping the platform updated with progress, and responding to donor inquiries.
  • Funds Handling: SayPro’s responsibility to ensure funds raised are used for the intended purpose, following the terms outlined in the agreement.
  • Compliance: SayPro’s obligation to comply with all applicable laws and regulations governing fundraising activities, including tax reporting.
• Platform Termination Clause:
  • Termination Rights: The conditions under which the platform or SayPro may terminate the agreement, including any penalties or final settlements for funds raised.
• Terms of Use and Privacy Policy:
  • Compliance with Terms: An acknowledgment that SayPro agrees to the platform’s terms of service, which may include data protection laws, donor privacy, and acceptable fundraising practices.
• Dispute Resolution:
  • Dispute Handling: The process by which disputes or conflicts will be handled, including arbitration, jurisdiction, and legal responsibilities.
• Signatures:
  • The signed contract or agreement that binds SayPro to the platform’s terms and ensures both parties fulfill their obligations.

Importance for Auditing:

• Auditors will review crowdfunding agreements to ensure that the platform’s fees are properly accounted for and that donations are processed according to the platform’s terms.
• It is essential to verify that all funds raised on crowdfunding platforms are directed to the correct bank account and used in line with the campaign’s objectives.
• The agreement must be in line with SayPro’s financial reporting, ensuring accuracy in revenue recognition and donor communication.

3. Document Management and Accessibility

SayPro keeps all sponsorship and crowdfunding agreements in a centralized, secure, and easily accessible location. These documents are maintained digitally in a secure file management system, with physical copies stored in a locked, restricted-access area. The agreements are organized by campaign name and date to facilitate easy reference during audits and financial reporting.

• Digital Storage: All contracts and agreements are uploaded to a secure cloud storage system that allows for easy access by authorized personnel and auditors.
• Audit Accessibility: During audits, SayPro ensures that all agreements are made available to external auditors for review. This includes ensuring that the terms of each agreement are being met, and funds are being appropriately allocated as outlined.

Conclusion

Sponsorship and crowdfunding platform agreements are crucial documents in SayPro’s fundraising efforts. They define the terms, expectations, and legal responsibilities of both parties and ensure that all funds raised are handled according to agreed-upon terms. By maintaining accurate, accessible records of all sponsorship contracts and crowdfunding agreements, SayPro ensures financial transparency, effective fundraising management, and compliance with legal requirements. These agreements play a vital role in ensuring SayPro’s operations are fully accountable to donors, sponsors, and regulatory bodies.