Becoming Non Profit?

[dcarr]

Originally Posted by AshWalker

The best benefit in my view is that I can hand the finances over to the student leadership and allow them to see it and really run the team as a business. They get to see the money in the account and make choices about how to spend it.

This is very much something I have in mind for our team. We do have an individual account at the school, but transactions can still be slow and cumbersome as they run through the business office and we have to track everything with them.

Essentially what we will probably end up doing is keeping our own records and ensuring they match up with the schools, still "tracking our own money" but it won't be literally in our hands. For political reasons I don't believe obtaining independent non-profit status will be the best for us, and I'm hoping it's not truly necessary. It's clearly a great option for a lot of teams and I'm glad it was a relatively smooth process for you.