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Rule number one: KISS - Keep It Simple Stupid!

Really need a bank account?

How many times has money from other volunteers needed to pass through your personal bank account? Not a major inconvenience to you yet?! Then it's not a problem.

So you really need a bank account?

Minimalist structures often suffice. In Belgium and many other non-US countries, it is possible to open a bank account for an informal organisation without too much of a formal structure in place. You just need to clearly convince the bank of a few things with a small written statement:

• this is a non-profit, not a money laundery
• there is at least some process in place to decide who gets to be in charge of the money
• the people with access to the bank account are not likely to change a lot

Transparency earns you trust

You need trust from donors and volunteers, so publish _all_ your monetary transactions to the web:

• anonymise this information only where needed

• both cash & bank, incoming & outgoing transactions

Accepting donations

• For some donors, it may be fiscally interesting to directly pay a bill for your locoteam. This has the additional advantage of being easier for you to administer.
• If someone wants to make a really big donation:
  • Always try to make a verifiable trail. Anything is better than cash.

Spending money

• Draw a very clear line where you want to spend money in the near future.
• Have a prioritised wishlist of things that would require funding to happen.

CategoryLoCoTeams