Frequently Asked Questions
Alumni Networking is a socially responsible B2B website for making business connections with fellow alumni, and facilitating transactions. Its primary goal as stated in our Mission Statement is to create sustainable scholarship funding by increasing business revenues, and donating a portion of the proceeds.
When enrolling as a participating member, you are asked to select your specific school group and are able to connect with fellow alumni. Now you are eligible to post a Request for Proposal (RFP) or respond to an existing RFP by fellow alumni of your school or other schools. When a business agreement is consummated between two participating parties on the site, they pledge to donate up to 5% of the gross transaction amount to scholarship funding. This is strictly voluntary and no verification is ever requested, just good will.
After a contract or purchase order has been concluded, the parties jointly agree as to the dollar amount to be donated. The site has suggested up to 5% of the total gross revenues, however this is strictly voluntary and any donation is appreciated by a college or university. The party receiving payment remits the donation amount to Alumni Networking which is a nonprofit tax-exempt organization. The site will acknowledge receipt of funds and retain a 10% honorarium and donate the balance split equally between the two schools the parties have individually designated. The schools are then requested to confirm donation made by alumni networking on behalf of the respective business entities.
Alumni Networking acts as a charitable facilitator between the two business partners. Once funds are received by alumni networking, they will be disbursed to the individual schools selected by the participating parties. Alumni Networking upon receipt of donations will acknowledge dollar amount to both businesses and request that the recipient colleges also verify amount received by Alumni Networking on behalf of the donating businesses. We believe in full transparency of transactions.
Alumni Networking’s only stipulation to the recipient schools is that the funds donated be used solely for academic scholarships. Alumni Networking does not get involved in school policy as to how scholarship money is awarded or disbursed. We do ask that the school acknowledge Alumni Networking along with the donating businesses to the students receiving the scholarships with the hope that upon graduation, the new alumni will support the site and business partners who made their scholarship funds possible.
Alumni Networking’s only revenue source is the 10% honorarium it retains from every donation for the purposes of website costs and administration. Our goal is to generate large ongoing sources of scholarship funds for American schools of higher learning. We currently do not charge for basic business membership but we do encourage business sponsorship through advertising on the site, and as stated previously, 90% of all revenues generated goes toward scholarship funding. The more scholarships colleges can award, the more affordable education becomes and less money students will have to borrow.
No, the pledge is 100% voluntary, there is no legal obligation. We rely on the honor system.
We only ask for a moral commitment to donate a small portion of business transactions generated by participating on the site.
When the donation is made, the site will ask the participants where they want the funds to go.
Alumni Networking is a non-profit 501(c)3 organization, all donations to the site are therefore tax exempt. Alumni Networking then remits the funds to the universities/colleges designated by the participating companies.
When Alumni Networking receives donations, the site immediately notifies all participating companies of the donation amount, and when the colleges/universities receive the funds from Alumni Networking, the schools in turn send an email to the designated companies acknowledging receipt of funds from Alumni Networking on behalf of their companies. So there are two forms of confirmation, initial confirmation comes directly from Alumni Networking, and the secondary confirmation comes directly from the schools receiving the donations.
Alumni Networking’s mission is not to generate profits, nor to enrich stock holders. Alumni Networking’s objective is to create an online platform whereby businesses and professional organizations can come together to generate new business opportunities and in turn create millions of dollar in academic scholarship funds.
Alumni Networking does not instruct the colleges how to disburse academic scholarships. Alumni Networking only asks that the funds be designated solely for academic scholarships. It is up to the universities/colleges to determine how those funds should be awarded.
All the companies who participate in Alumni Networking have made a voluntary moral pledge to enter into business transactions with other like-minded companies to donate a small portion of their contract value towards academic scholarship funding.
All firms participating in Alumni Networking share a common social goal of raising funds for academic scholarships.