I’m a new parent mentor working with our business team. We are a 501c3. I’ve been searching to see if there are any regulations from FRC that prevent a team from collecting donations via Venmo, credit cards or other electronic means instead of cash and check. Do you have any experience setting those up for your team, or can it just be handled directly with the bank? Any help very appreciated!
FIRST doesn’t regulate where team funds come from, how they are collected, etc, unless they’re paid directly to FIRST HQ, which it sounds like these wouldn’t be.
You may want to check with the school/bank/501c3 regulations.
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You want to check into zeffy for donations. It’s far superior to the others and is free.
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No, FIRST does not have any rules that might prevent you from just setting this up with your bank. What your state’s rules are for non-profits, you should look into, but I doubt that will be a problem either. Our 501(c)3 booster organization has a Venmo account, a credit card, and a Square account tied to it too for use during smaller fundraisers where we might normally take in cash (bake sales, etc.) The bank they work with is also a sponsor (they’re a small local bank and like to support the community.)
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