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  • CROSEUSOA@aol.com
    Question as come up about accounting in uw hockey clubs. If one person handles moneys thru a personal account, they will pay tax on the moneys. How much and
    Message 1 of 1 , Apr 1 11:39 AM
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      Question as come up about accounting in uw hockey clubs. If one person handles moneys thru a personal account, they will pay tax on the moneys. How much and how important that is depends on dollar value in/out of that account. In CA, Wells Fargo and in the past BofA will open checking accounts for non profits (nothing to do with being tax exempt!) with low or no fee accounts. 

      All uw hockey clubs should have an organizational document, and the first paragraph should declare the club is a non profit, recreational/social club to play and advance the sport of underwater hockey. I have sample club bylaws if anyone wants to see one. I also have sample for an incorporated club - from W Palm Beach.

      Incorporation helps protect club but is costly to some degree. Nolo Press, Berkeley, CA, has outlines including disk with fill in the blanks application - one is specific to CA; other is generic. Outline costs about $50 and will tell you all costs involved in incorporation. I also have two outlines written by CA attorney on pluses and minuses on incorporation.

      Waivers are critical - to your club and to your pool! I have those too hard copy, and they are on the uw hockey website. I fully realize uw hockey players avoid and resist organization with every tiny fiber of their beings, but it cannot be avoided.

      Carol


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