When I was still doing the Boy Scout leader thing, I just went to the bank, told them I needed an account to handle the dues and things for the scouts. They said OK and that was that. No problem at all. glenn -----Original Message----- From: geocaching-bounce@xxxxxxxxxxxxx [mailto:geocaching-bounce@xxxxxxxxxxxxx]On Behalf Of Paul Konopacki Sent: Thursday, October 03, 2002 10:50 PM To: SLAGA Newsgroup Subject: [GeoStL] SLAGA bank account Who can give advice on opening a bank account to handle our donations and purchases? I'm sure there are people out there who are dealing with this right now. Here is something to start the discussion/debate: GUIDELINES FOR OPERATING A NON-PROFIT BANK ACCOUNT "To open a non-profit bank account, you need to have a tax identification number (TIN) for your organization (form SS-4, Application for Tax Identification Number)" Bank Account "When dealing with banks, the sticky part comes -- if you are an informal group -- with interest-bearing accounts (checking or savings). Technically, the federal government requires that someone be responsible for paying taxes on the earned interest. This means the bank may ask for a social security number and the person with that number must treat the interest from the account as part of her personal income. Obviously, some people may be reluctant to do this. With a checking account, you can get around this problem by opening an account that is non-interest bearing. With a savings account some banks will allow you to register the account as owned by a nonprofit group even thought technically you are not nonprofit. The banks are simply trying to stay on the good side of the federal auditors and such an arrangement will usually appease them as long as there is not a huge sum involved." **************************************************************************** ************************ Our WebPage! Http://WWW.GeoStL.com Mail List & Archive Info. //www.freelists.org/cgi-bin/list?list_id=geocaching Msg. of the day, "The peacemaking meeting scheduled for today has been cancelled due to a conflict." **************************************************************************** ************************* **************************************************************************************************** Our WebPage! Http://WWW.GeoStL.com Mail List & Archive Info. //www.freelists.org/cgi-bin/list?list_id=geocaching Msg. of the day, "The peacemaking meeting scheduled for today has been cancelled due to a conflict." *****************************************************************************************************