Bank Accounts

[manav]

Hi,
I'm from the Mission San Jose High Robotics Team and it will be our first year in the FIRST competition. I was just wondering if most teams have their own bank acccounts or do most of them operate through their schools? Thanks.

[sanddrag]

We buy some of the stuff through our teacher's personal credit card and then he gets reembersed through the school account. Most everything is bought directly with the money out of the school account. It's a pain in the *&% if you ask me but that's just the way schools operate. Schools buy wierd stuff too like we have a giant tubing bender and a large pair of bolt cutters and 2 miter saws. We also have 5 soldering stations, 3 soldering guns and3 heat guns. But, we don't even own a sawzall. I really don't get it. How many people can solder at one time anyway?

[mtaman02]

we hoave our own but its in the schools name so kinda both

[UCGL_Guy]

Ours goes through the school account that way donors can claim it to the irs as tax deductable. Setting up a 501 c account (this is to register with the IRS that you are a tax exempt org)is tedious and costs. It is a hassle and not real convient especially when you need a part quick. We also have what we call our robotics booster account that we keep a small amount in to buy parts quickly, althought this is not tax exempt. hope this helps, someone at your school or an accountant would best be able to answer your questions there.

KY