Non Profit Clubs Treasurer Question
-
Since the ML community is so smart with stuff, figured I'd start here with this.
I'm a board member for a non profit club.
We've been having an issue with the Treasurer position. Because it is yearly, there is currently a significant amount of work to get the bank account changed from the person, say, from 2015 to the new person in 2016.
I was just curious if anyone else also helps run a non profit organization, and how they deal with this.
-
I'm also on the board of a non-profit, and basically, we just deal with it. Our treasurer's position is a 2 year, but the board leader is also listed on the account. So basically every year one of the two of them have to make an appearance at the bank to get everything updated.
-
@BRRABill Can it not be ran as a company account, and have the current treasurer/president/other as signatories, and anything requiring money out requires 2 signatures? That's how it works in the UK...then you can just change the signatories when the posts change etc.
-
@NattNatt said:
@BRRABill Can it not be ran as a company account, and have the current treasurer/president/other as signatories, and anything requiring money out requires 2 signatures? That's how it works in the UK...then you can just change the signatories when the posts change etc.
That should be how it's setup.
-
The issue is apparently the length of the process of getting a signatory changed. Multiple bank visits/calls/faxes by multiple people.
There was a motion to make the Treasurer's job 3 years, to alleviate this process. But I was wondering if there was a better way to do the process.
-
@BRRABill said:
The issue is apparently the length of the process of getting a signatory changed. Multiple bank visits/calls/faxes by multiple people.
There was a motion to make the Treasurer's job 3 years, to alleviate this process. But I was wondering if there was a better way to do the process.
for all the companies I worked for it was a standard 30 day thing, you tell them and give the new signatory etc, and there are 30 days overlap where old cheques etc can be cashed...one visit, done...but like I say, that the UK.
-
@BRRABill Any reason you can't try a different bank?
-
@aaronstuder said:
@BRRABill Any reason you can't try a different bank?
That's what my thought was. I just wanted to be sure it shouldn't be a huge process.
Or, of course, if there was a better way.
-
Credit unions are usually better about this than the banks..
Anyway it is usually not a 30day process. They just need their SSN and a notarized letter and usually can do it the same day.
-
-
@Jason yeah, sorry, didnt explain fully, the 30 day period is a grace period for outstanding people to cash cheques before the old signatory is invalid, the new guy can write cheques etc from day one.
I think 
