LoCoTeamDealingWithMoney

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== Dealing with a bank ==
 * 		=== Really need a bank account? ===
 * How many times has money from other volunteers needed to pass through your personal bank account?

== 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

 
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 * publish _all_ bank statements to the web:
  * anonymise transactions only where needed
 * also publish all cash transactions (small amounts paid for making flyers, small donations in cash during events, etc.)		  * publish _all_ monetary transactions to the web:
  * anonymise this information only where needed
  * publish both cash and bank transactions (small amounts paid for making flyers, small donations in cash during events, etc.)

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?

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 trust from donators

  • publish _all_ monetary transactions to the web:
    • anonymise this information only where needed
    • publish both cash and bank transactions (small amounts paid for making flyers, small donations in cash during events, etc.)

LoCoTeamDealingWithMoney (last edited 2008-08-06 17:00:04 by localhost)