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-   -   Help developing a business plan for our team. (http://www.chiefdelphi.com/forums/showthread.php?t=33512)

IraJason 15-02-2006 14:10

Re: DOES ANYONE DO A BUSINESS PLAN PLEASE HELP!
 
Quote:

Originally Posted by RoboMom
Some teams apply for their own 501(c)3, but this is a lot of work. Others use an exisiting 501(c)3.
Team007 approached the school board and asked to have an account within the school boards 501(c)3. Corporations may prefer to make donations to an account like this rather than to the school.

Yes, it depends whether you are using a school account or not. If you do use a school account, it already counts as a non-profit organization. If you decide to set up your own seperate account and want to be considered a non-profit, you need to apply for a 501(c)3, which as stated above is a whole lot of work and a lot paperwork to fill out.

Rick TYler 15-02-2006 16:23

Re: Help developing a business plan for our team.
 
Pedantry:

Public schools are not 501(c)(3) corporations, but they may accept tax-deductible donations. (I want to say that they fall under Section 509, but IANAL, and I don't remember for sure.)


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