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mara
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  Playspace Builder Support Network  Fundraising Tips, Ideas and Best Practices  Fundraising Acc...
 Fundraising Accounts
 
imgOfflinecostekat
4 posts
Joined
3/14/2008

Fundraising Accounts
Posted: 18 Mar 08 12:31 PM
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I am in the beginning stages of planning our fundraising efforts.  I would like to know what type of an account can be set up for the funds to be deposited into and if it should be an individual, joint or apply to do a business account.
imgOfflineKaBOOM Amy
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Re: Fundraising Accounts
Posted: 25 Mar 08 5:05 PM
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I talked to Tiffiney Carney who does all of our trainings. She said the first thing you need to do is set up a 501C3. That's "IRS speak" for a charitable organization. That involves paperwork -- legal paperwork. There's a good summary from the USDA:

http://www.rurdev.usda.gov/rbs/ezec/Toolbox/501c3factsheet.html

There's more information (not as good a summary, but more links) here: http://www.nscsb.org/starting_nonprofit.html

you don't want to get into all that, find an existing nonprofit in your town and partner with it. It's called being a "fiscal sponsor". Basically, you'll send your project's donations through your fiscal sponsor. I found more information on that here:

http://www.ctaconline.org/fiscal.asp

Is there anyone else who has been through this and can offer some other tips?

  Playspace Builder Support Network  Fundraising Tips, Ideas and Best Practices  Fundraising Acc...

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