Scrips Gift Cards
Scrips Gift Cards - Every time you purchase a gift card at face value, RiseRight sends us a discount on your purchase, which can be applied toward our church, Tuition Angels, or family tuition. Rise Rite offers a wide range of gift cards to purchase. Each card offers a different % rate.
Source: ctklutheran.com
Scrips Gift Cards
If you purchase a $100.00 Gift Card to Giant at 5%, you will receive a $100.00 Gift Card to Giant; Seven sufferers will receive $5.00 in cash back. 75% of that $5.00 ($3.75) can go to our parish, Tuition Angel Program, or the family of your choice to help offset the tuition and fees for our religious education school and families.
The more you buy, the more we earn. Ideal for parents who aren't techies, our free internet safety event covers everyday apps kids use, device settings and more. If you haven't tried Scrip yet, it can add an extra dimension to your fundraiser. But managing it also requires some additional financial controls and a well-organized system.
Scrip's fundraising is based on the resale of gift cards or gift certificates. Webster's definition of the word scrip is "a printed document that entitles the holder to receive a certain value." In a voucher fundraising program, PTO clients purchase gift cards for their full face value, typically by choosing from a long list of merchants.
June Is Internet Safety Month
The parent group, in turn, purchases gift cards ordered from a voucher broker at a discount. Due to the sheer volume of vouchers purchased, the broker is able and willing to sell the gift card at a discount to the PTO. The parent group keeps the difference between the money collected from its clients and the money paid by the PTO to the scrip broker as profit.
Source: www.mqpwg.org
Each trader has his own profit percentage, usually from 2 to 13 percent or even higher. Since customers get full value for their purchases and the PTO makes a profit, the voucher can be a win-win fundraiser. The full potential of vouchers is realized when your parents get into the routine of regularly buying cards for their personal use.
While your PTO may earn a few hundred dollars by offering a one-time sale of holiday gift vouchers, you can earn much more by continuing the program throughout the year. Many tuition-based schools use scrip to reduce their parents' tuition. These schools typically sell vouchers on a weekly cycle throughout the year.
In this case, part of the profits are applied directly to the student's tuition balance, thus generating greater participation and greater sales volume. A portion of the proceeds also typically goes to the school's general fund. Even if your school is free, vouchers can generate a steady stream of income.
Paperless Transactions
Scrip may also be reason enough to finally apply for 501(c)(3) status because some brokers only sell to federally registered nonprofits. (However, in most cases, your group only needs to show that it operates as a nonprofit organization.) However, by implementing certain financial controls, a fast and steady flow of money into a voucher program can be ensured and monitored so that the PTO treasurer can sleep easy.
One way that voucher brokers can control their costs to be able to offer these discounts is to operate in a near paperless environment. Gift cards and gift certificates are obviously tangible, but the transactions to order vouchers and make payments to the voucher company are often paperless.
Source: stjohnseagles.com
To ensure that these electronic transactions are recorded correctly, you and the scrip coordinator must rely on some good old-fashioned paper control forms. If you have a large scrip program, you should also have a separate bank account for your scrip funds. The first step in the scrip cycle is to collect orders and payments from your customers.
If your scrip coordinator gets a few orders, it's helpful to start by recording them in the order control log. This form is a simple ledger sheet that provides a convenient place to list orders, money owed, and money paid by each customer. Any differences in balances will be highlighted here for tracking by the Scrip Coordinator prior to ordering the cards.
Paperless Transactions
Since most voucher programs are ongoing, trying to figure out when to cut off orders can be confusing. For simplicity, the scrip coordinator should announce a specific expiration date for each batch of orders. Orders received before the expiration date will be collected in one batch.
For example, your PTO may announce that voucher requests are processed every Monday afternoon. Any orders received after 9am on Monday will be added to next week's batch. When all orders in the lot have been recorded, the coordinator must total the money, prepare the deposit form, and give the money and paperwork to the treasurer for deposit.
The next step for the coordinator is to count the orders. With dozens of merchants to choose from, your customers will often be ordering vouchers from many different people. To complete an online purchase, you must first collect all the cards requested for each merchant.
Source: cdn1.sportngin.com
This process is best done on a tally form that the scrip coordinator can use as a guide to order online. A tally form is a spreadsheet that lists the merchant's name and card assets, as well as the number of cards ordered for each denomination.
Separation Of Duties
The tally form must also include the total sales dollars for this batch of voucher cards. As treasurer, you should expect the total number of sales to match the amount that the voucher coordinator gave you for this lot. To make this comparison, the scrip coordinator must give you a copy of the tally form along with cash and checks.
Also, as you will read below, it is important to deposit early, so that the money is available to pay the scrip broker. Verification of deposits is the first point of your financial monitoring. At the other end of the scrip cycle, the broker will deduct (debit) your payment directly from your PTO's bank account.
This electronic transaction is automatic and fast, allowing the broker to send your Scrip card within a day or two of the online order. One of the benefits of the Scrip program is the speed of response, especially if you make weekly sales. However, the use of electronic debits requires close scrutiny by the treasurer.
Note: most scrip brokers will accept a standard check as PTO payment, but delivery time increases dramatically.) One of his main responsibilities as PTO treasurer is to protect group funds, whether that means making early deposits, securing the checkbook, or in this case, making sure electronic debits are correct.
scrip gift card fundraising program, scrip gift cards list, scrip fundraising for schools, raise right script, scrip gift card program, gift card fundraiser program, scrip programs for non profit, scrip card program