Opening a bank account

[Stephanie Perrin]

Thanks Milton, this is as I suspected, and have confirmed in discussions with the banks.  Even a non-incorproated NGO has to have a business number apparently, to establish it's identity, which brings fresh problems and expense in terms of registration and potential taxes.  I don't mind doing it, as long as there is trust on both sides.  Operating procedures will doubtless help with this.  I am grateful to Tamir for agreeing to be co-signor in these circumstances.

Stephanie


On 2019-01-14 15:56, Mueller, Milton L wrote:
Seems my name was invoked, so here is my view. I am probably not telling you anything you don’t already know.

I would like nothing better than to get rid of my Treasurer duties. The problem is, and remains, that neither NCUC nor NCSG are incorporated entities, so none of them can “own” a bank account. If Stephanie or anyone else creates a new bank account, it seems to me that the same problem occurs: it is still owned by whoever started it.

However, short of incorporating (which has its own set of problems) NCSG could create operating procedures that define how the treasury is handled, e.g., it could set up co-signers and a method for transferring authority over the account.

Either way, turnover in account authority raises issues of trust. People can run off with the money and we would have little recourse.

Meanwhile, you already have three NPOC bank accounts....what do Joan and Sam think about this?  And Milton, who has patiently acted as Treasurer for NCUC without mishap for lo these many years?  These are folks who need to be in on the discussion, the folks who have been managing the money.

Now, can somebody please turn their minds to substance and come up with some ideas about what we might actually use additional money for?  The ABRs are due on the 15th.  Our job as a supporting organization of the GNSO is to work on policy, I would remind everyone.

Respectfully,

Stephanie Perrin


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