I want to set up a quick fundraiser for a local group. I’m a member and if it’s too involved, I will have to chalk it up to great idea, but too many obstacles. I have a personal PP account.
The group is so small we are not registered as a charity, there is no bank account or even formal structure. We manage ourselves day to day, but bigger issues or policies are set by the city or at least reviewed by them. We operate using public facilities, and despite our size, almot everyone sees what we do.
There is a Fiscal Agent that we can use if we have funds. They hold it, do the bookkeeping, paperwork, audit it, and ensure nothing is done without following procedures. We almost never touch money ourselves. If we use $100 in a year, that’ a lot. But then the City buys thing for us automatically. Sometimes we ask the city and sometimes a member just goes and buys it.
Last year we faced the need to do some construction. We applied for and got a $15,000 grant, used volunteer labor, did the work over several months, and completed it successfully under the watchful eyes of two city departments, the grant and the Fiscal Agent.
We have no great needs, but it would be nice to know if we have to get something photocopied or pick up a small item, there is money that belongs to the group that only would need the group to agree to spend it.
I will get all the approvals and audits etc. set up. What we need is to have a simple online form that will gather name/address/phone, and to collect the amount for the purchase. At the end of three weeks, I transfer the discount amount to the vendor, and all the rest of the funds to the Fiscal Agent and it’s completed. The vendor sends me the correct number of codes and I send one to each buyer. It’s all in the group. The buyers then register the software and if we need to spend a few bucks, it goes up to a vote and the Fiscal Agent reimburses someone--very transparent.
Can I set a form like that up using Paypal Services? Security, Simplicity, Ease and Transparent are absolutes. Can I set up an account for the group without formal documentation? If not, and use my account to say collect/disperse up to a few hundred dollars are there any concerns? I realize I’d be risking an audit, but have been through those—yeah, it’s annoying but when everything is documented and legal, there’s no real concern.
Since I use PP personally, it’s easier to do it here than contact Square, or set up an arrangement with someone else.
The most important concerns are security, transparency, and simplicity. As a business owner in the past, and having set up larger charities, I know the ins and outs of merchant accounts, PCI compliance, IRS regulations, audits, etc.
Advice?
Thanks!
