So, do I add, "Donation to CLW wand fund" in the equipment section and deduct the appropriate gold?
You can. Or just subtract the gold. I prefer to be very detailed in the tracking of my PCs' wealth.
I had also offered to trade in one or more CLW scrolls to contribute more to the wand. Turning all of them in gives an extra 100, if one of the higher contributors wanted to save back some funds. I feel like a schlub with that measly 9 on there.
I'll take 50 back if you want to contribute a bit more. That would let me buy another potion of such.