LoCoTeamDealingWithMoney

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⇤ ← Revision 4 as of 2006-11-08 18:50:45 →
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← Revision 5 as of 2006-11-08 18:52:12 → ⇥
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* this is a non-profit, not a money laundery
* there is at least some process in place to decide who gets to be in		  * this is a non-profit, not a money laundery
 * there is at least some process in place to decide who gets to be in
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* the people with access to the bank account are not likely to change a lot

 		  * the people with access to the bank account are not likely to change a lot

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)