The key to success for Keller Williams Realty Cares lies in the enthusiastic participation of individuals and market centers, who join together to ensure that funds are always available to help KW family members during their times of extreme hardship. It is important to note that participation in KW Cares is strictly voluntary, and will never be used as a reflection of a franchise's business performance. We encourage every market center to form a task force to manage its KW Cares program. This includes not only fundraising for KW Cares, but also planning for how your office will support its community and local KW family throughout the year.
Setting Up Your Accounts
Money you set aside for KW Cares or any other charity does not have to be kept in a separate bank account. Within the MYOB system you can assign a liability account number and name for each of the funds you're building in your market center. This will not only allow you to keep the money separate, but will also facilitate reporting when people want to know how much they've given through the Greensheets. For tax reporting purposes, these funds must be spent within the calendar year during which they were collected so donors will get their receipts during the same year. This is true whether you are sending the money to KW Cares or another charity. Remember: Market Centers should never issue receipts for tax purposes.
Setting Up Your Greensheets
One of the easiest ways agents can donate to KW Cares is through Greensheet contributions. If a market center includes KW Cares on the Greensheets, deductions can be made automatically upon closing. We suggest that each Market Center set up Greensheet deductions for the following three important categories. (For more about this, see "Setting a Yearly Goal"). 1. KW Cares fund - monies to be sent to KW Cares in Austin 2. [Your MC] Cares local office fund (which is not tax deductible) 3. Other Charities Fund - the pool of money the Market Center will use to support other charities directly, not through KW Cares When entering KW Cares donations through the Greensheets you will need to set up a deduction in WinMORE. The system requires that you enter the tax ID for KW Cares (which you will receive once you have had a fundraiser approved by KW Cares). Be sure to enter your Market Center address in the deduction address field. Checks for KW Cares can be mailed directly to us, after writing the agent’s name and Market Center Number on each check. KW Cares will provide the donor with a tax receipt (U.S. Residents only).
About Collecting for Outside Charities
Funds collected through Greensheets for outside charities will be sent to them directly by your market center, and KW Cares will not be involved. These funds should be tracked internally. You will need to provide donor names, addresses and donation amount to the charity that receives your donation so they can issue tax receipts. These funds must be distributed to the designated charity within the same calendar year in which they were collected.
Tracking Your Donations
It is strongly recommended that each market center maintain an internal record of donations that have been sent to KW Cares on a month by month basis. This sample Donation Log in Excel format is an ideal way to stay on top of your MC's performance. Periodically, KW Cares sends reports electronically which show the donations from your office that we have received to date. You should compare your records against ours on a regular basis to make sure that both sides reconcile.
We recommend that MCAs print the Donor Form to have on hand for people who set up their Greensheet for the first time. We will need to receive the completed form with the first check from that person, in order to set up a complete donor record in our database.
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Print the Donor Form to have on hand for people who set up their Greensheet for the first time. We will need to receive the completed form with the first check from that person, in order to set up a complete donor record in our database.