Savings Accounts Ins and Outs
Elizabeth Basden (SanAngl@AOL.COM)
Fri, 30 Aug 1996 00:31:33 -0400
Many thanks to all who answered me privately and on the list concerning my
question about the problems involved with having a troop savings account.
The overwhelming consensus of opinion and pure knowledge is that it is
perfectly acceptable for troops to maintain savings accounts for amounts less
than $25,000. After that figure, then a form must be filed with the IRS.
This info came from several CPAs .
If anyone is listening, this probably comes up fairly often in the course of
troop activites and might make a useful FAQ.
BTW, just a reminder, not everyone on the list is a scouter. The list is for
those who deal with youth serving organizations, although admittedly the
great majority of post are from scouters. But, not all are from the US nor
are all involved with BSA or asking questions from that point of view.
Now since you all have inquiring minds:
My two troops need savings accounts because:
In May 1997, my 5th and 6th grade GIRLS will travel from West Texas to
Savannah, GA, to visit the Juliette Gordon Low Birthplace, home of the
founder of Girl Scouts. My 8th and 9th grade GIRLS will travel in 1998 to
Cuernavaca, Mexico to visit Our Cabana, one of the 4 World Centers of WAGGGS,
the World Association of Girl Guides and Girl Scouts.
I'll report to you on these trips after we go, because unless I am DEAD ( and
then my husband will fulfill the obligation) I'll be there. I promised.
Just trying to expand your inquiring minds and keep them open <g>
never was one of those animals, never will be one
But, I will die a Girl Scout with Juliette Low as my hero
Terry Howerton Sakima Group, Inc. SCOUTER Magazine Kansas City