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Posted: Tue Apr 22, 2008 7:44 am Post subject: No More PayPal for Now.
Hello. Just an FYI from the management:
At this time we are NOT accepting PayPal payments for hunts/deposits. The reason is: I have been attempting to separate anything the Center depends upon me for (so I may get on with my life). So I set up a PayPal account specifically for the Center in it's own name. PayPal is now having problems setting this up (possibly because of our 501C3 status). I will be checking with our accountant and the IRS to see what gives. Until then we only accept check/money order for deposits and credit card payments at the door (as well as cash, check and money order at the door).
Joined: 09 Apr 2007 Posts: 87 Location: New Albany, Ohio
Posted: Wed Apr 23, 2008 1:35 am Post subject:
I've dealt with similar situations at a couple of my non-profit clients who accept donations and memberships via PayPal. The way it was handled at those organizations (all 501c3's) was the executive director set up the account in their name because they (at those organizations) have the ability to access and manage the organization bank account. It's kind of a hassle getting organizational approval but they'll usually approve an individual account quickly. I know of one other org who's CFO is on their account. Usually, and I don't know if that's the case here, when you try to set up an account as an organization whether it's for or non-profit they want to do some background research to find out what you're all about.
What's more important than how it's set up with PayPal is how the income and expenses are accounted for at the organization itself. I know of several situations in which a couple of my non-profit clients won't take advantage of benefits they'd receive because of their IRS status due to the hassle involved in getting approval. It took 5 months for one place to get approval for the non-profit discount at OfficeMax. Sometimes the hassle outweighs the benefit.
I really think that's what we're looking at here. Check/money order is fine. Like those other CEOs you mentioned I had been running stuff through my personal PayPal for the Center, but since I am going abroad it does not make sense.
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