Re: quick question on nonprofit status
Re: quick question on nonprofit status
- Subject: Re: quick question on nonprofit status
- From: "Chuck Joiner" <email@hidden>
- Date: Tue, 17 Feb 2004 09:03:49 -0500
>
We here at WhatMUG (Bellingham, WA), we are also sorting our way through
>
this question. One of the challenges we've encountered is that banks (at
>
least in our area) now have tighter security restrictions since 9/11
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regarding who can open bank accounts. We wanted to set up an account just
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in the name of our club with, but found that virtually all banks now require
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the Social Security # of the person establishing the account.
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>
Our club Treasurer, however, is uncomfortable with having his personal SS #
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attached to the account. We respect his concern. The only way we have
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found around this issue is to establish the account in the name of
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registered company, corporation or non-profit organization... in our case it
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would be a non-profit organization.
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>
Anyone else encountering this issue?
That's a new one here, Mac, but it might be because we have been
established with our bank for a LONG time. We have a simple non-interest-
bearing checking account in the name of the organization, with two
authorized signatures.
Perhaps consider a smaller, local bank who is used to dealing with
community organizations???
---Chuck
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