The Mudcat Café TM
Thread #58108 Message #1104297
Posted By: Cuilionn
29-Jan-04 - 10:07 AM
Thread Name: Tech: Bank account for music org?
Subject: RE: Tech: Bank account for music org?
We're in the process o non-profit incorporation for oor Celtic culture/music organization, sae I ken whit ithers are sayin aboot aa the paperwairk! Here's three things that micht help:
1) Ye can call the IRS an get a PROVISIONAL tax number, as a preliminary step tae explorin full incorporation. The incorporation process taks months, even years, but as lang as ye're nae bringin in thoosands an thoosands o dollars, the provisional tax number will allow ye tae conduct yir bankin business an aa that. We jist ca'd ane o those toll-free IRS phone numbers, did oor aplication for an EIN ower the phone, & explainit that oor intent wis tae seek eventual incorporation as a cultural education organization unde the "501(c)(3) catagory. Twa minutes later, we haed an EIN, went richt tae the bank, an were able tae open a special sairt o bank account available tae non-profits, even tho we tauld the banker we didnae hae full status yet!
2) There's a grand buik ye suid seek oot frae yir local library system, a definitive manual ca'd sumpit like "How to incorporate as a nonprofit organization in all 50 states." Dinnae ken if I've gaet the title jist richt, but it's printit by Nolo Press, sae ye cuid luik them up on the web an get the exact title, then gae tae yir library an get the buik thro interlibrary loan.
3) The Folk Alliance provides a verra wide range o sairvices for wee local folk organizations like yourn. Ane o their sairvices is that they can act as an "umbrella organization" and confer THEIR nonprofit status (and grant-receiving ability) on your organization. They micht be able tae help ye wi details like the EIN as weel. Luik at their websicht (under "member sairvices", I'm thinkin) an consider jynin the Folk Alliance wi an organizational membership. It costs muckle less than the application fee ye'd pay the Feds tae become a stand-alane organization.
Hope this helps--
--Cuilionn (Program Director, Ceilidh House School & Cultural Center, Maine)