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Re: Becoming Non Profit?
Our team utilizes not only the student account, but we also have our own non-profit. This gives us the best of both worlds. We use the Student account to receive student travel fees and pay for hotels and transportation for the Regionals. We also have some sponsors who prefer to donate their money to the school. We utilize their PO system to perform most purchases.
We also formed a non-profit and paired with our local Community Foundation as our 501(c)3. We have a Non-Endowed Fund set-up with them that can receive donations. We can make purchases and being reimbursed is much easier than with the school. We have some sponsors who prefer this method of donating. The Foundation handles the receiving of the donations, as well as other administrative duties (tax's, etc.). They charge us 2% annually with a minimum of $100 a year. Very little compared to how much work they do for us.
I hope the information I sent Paul is helping, let me know if you all have any other questions.
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Jimmy - Lead Mentor, Pit Boss, Miami Valley FRC Regional Planning Committee
Lakota Robotics - FRC Team 1038
2013 - Crossroads Team Spirit,Quarter-Finalists - Queen City WFFA - Paul George,Quarter-Finalists - Ohio FRC State Championship Champions
2012 - Queen City Volunteer of the Year,Team Spirit,Finalists - Smoky Mountains Engineering Inspiration,Quarterfinalists
2011 - Pittsburgh Semifinalists - Buckeye Engineering Excellence Award,Coopertition Award,SemiFinalists
2010 - Pittsburgh Judge’s Award,Quarterfinalists - Buckeye Industrial Design Award,Finalists - IRI Mentor Round Champions
2009 - Buckeye GM Industrial Design,Champions
2008 - Midwest Engineering Inspiration,Quarterfinalist - IRI Semifinalist
2007 - Pittsburgh Motorola Quality,Finalist - Buckeye Rockwell Automation Innovative Controls,Finalist - Championship Newton Quarterfinalist
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