Troop accounts

[SMT376Richmond KY]

Help! The CO for our new troop provided the troop $100.00 to open a troop account and purchase some needed equipment. When we went to the local bank they are asking for IRS employer ID numbers and tax exmept status determination forms from both the State and the feds. Can anyone help me out with this stuff?

[Bob White]

We can't, but your Charter Organization can. They will have the documentation you are being asked for, if they are a non-profit group such as a school, church, civic organization etc., . The bank wants to make sure this is a legitimate untaxable account and not someone sheltering money using a non-profits name.

 

Also don't forget the BSA recommends two signatures on the checks.

 

Bob White

[eisely]

As BW said, your CO should be able and willing to come up with the necessary information. BSA troops are not separate legal entities. Banks need a taxpayer ID number to put on the account. Your CO should have such a number already. Since they "own" the troop and all its assets, logically their number should be on the account.

 

Somebody may suggest just using some leader's social security number. Do not do this. Use a proper ID other than a social security number of an individual.

 

Also, when you set up the account, specify dual signature control as suggested. Have at least three signatures on the signature card.