Required Approvals for Launching a Fundraising Campaign: A Comprehensive Guide
Based on information available until January 2022
Initiating a fundraising campaign involves navigating a complex landscape of legal approvals and agreements. Before you start planning, it’s crucial to ensure that you have all the necessary approvals and are operating in compliance with relevant laws and regulations. In this article, we will review the key approvals required for launching a fundraising campaign.
1. Local Authorizations:
Ensure that you have the necessary local and national authorizations from relevant authorities. In some cases, you may need local approval or undergo local processes before commencing the campaign.
2. Treasury Approvals:
In many cases, you will need approval from the Ministry of Finance or a financial oversight authority for financial transactions. Make sure you comply with all the specific requirements to obtain the approval.
3. Establishing an Association or Foundation:
If the campaign can be part of an association or foundation, you will need to establish and register the association locally or obtain approval for establishing a foundation.
4. Association Establishment Requirements:
If opting for an association, the association will have legal requirements and obligations. Every association must submit annual reports, and each has its own regulations.
5. Business Name Registration:
If choosing to establish a unique business for the campaign, you may need to register a business name and obtain a declaration from local authorities.
6. Fundraising Regulations:
To prevent the promotion of campaigns associated with fraud or illegal activities, there are regulations and laws focusing on the legal and promotional aspects of fundraising campaigns.
7. Donation Sectors:
Ensure that you comply with the specific legal requirements of the donation sectors in which you operate. Some sectors have unique legal requirements.
Launching a fundraising campaign is a targeted action that requires thorough planning. Make sure you have all the necessary approvals and operate within the law to ensure that the campaign is renewed and operates legally and responsibly.