scouts-l Mail Archive for August of 2000: Re: Not for profit
Turba, Thomas N (Thomas.Turba@UNISYS.COM
Sun Aug 13 2000 - 17:42:26 CDT
>I am involved with starting up a new Venturing Crew. The crew is going to
>be a shooting sports crew, sponsored by the local Pistol &Rifle club. The
>club is an NRA affiliate, teaching NRA courses and associated with the
>state DNR teaching Hunter Education courses. They are a "not for profit"
>organization. Their concern is loosing their "not for profit" status if
>they allow the crew to have a bank account.
Your sponsor will not loose their "not for profit" status if you have a bank
account for your crew, even if it is an interest bearing account. If you
cannot convince your sponsor that this is true, or if they do not want to
deal with the hassle, obtain a separate tax ID number for your crew. The
bank can give you the required form.
If your sponsor has a 501(c)(3) status, or similar temporary or permanent
tax status, having a separate tax ID number will make their accounting
easier when they need to verify their status for the IRS.
I hope this helps.
I've been away for the last few weeks at Vienna 2000, an international Scout
camp, and am just catching up on mail. That's why the delayed response.
The event, by the way, was very good, even with a couple of days of living
in "Mud City", hundreds of earwigs getting into tents, and mice under the
T. N. T.
Thomas N. (Tom) Turba