LoCoTeamDealingWithMoney

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 * How many times has money from other volunteers needed to pass through your personal 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.
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 * publish _all_ monetary transactions to the web:  * Publish _all_ your monetary transactions to the web:
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  * publish both cash and bank transactions (small amounts paid for making flyers, small donations in cash during events, etc.)   * both cash & bank, incoming & outgoing transactions

== 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.

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

  • Publish _all_ your monetary transactions to the web:
    • anonymise this information only where needed

    • both cash & bank, incoming & outgoing transactions

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.

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