Difference between revisions of "Donations"
From Bloominglabs
(Created page with "== Our non-profit status == Our formal name is "Bloominglabs Incorporated" and we are incorporated as a non-profit within the State of Indiana. Furthermore, Bloominglabs Incor...") |
(Updated to reflect our new 501c3 status) |
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== Our non-profit status == | == Our non-profit status == | ||
| − | Our | + | Our full name is "Bloominglabs Incorporated" and we are a charitable non-profit incorporated within the State of Indiana. We have 501(c)3 status through the IRS which can be confirmed with [http://apps.irs.gov/app/eos/pub78Search.do?ein1=&names=Bloominglabs&city=&state=All...&country=US&deductibility=all&dispatchMethod=searchCharities&submitName=Search this link]. |
| − | + | Additionally, Bloominglabs Incorporated is fiscally sponsored by School Factory, Inc., a 501(c)3 charitable organization. | |
| − | + | ||
| − | + | == How we process monetary donations == | |
| − | + | We can directly receive cash donations and issue tax-deductible receipts. We are in the process of updating our PayPal account to reflect our new charitable status. | |
| − | + | (Please note that membership dues are NOT tax deductible and should not be sent as a donation or sent to the School Factory, we receive those directly.) | |
| − | + | ||
| − | == | + | === Donations by check: === |
| − | We | + | * Checks and money orders must be made out to "Bloominglabs Incorporated" |
| − | * [https://docs.google.com/a/schoolfactory.org/spreadsheet/viewform?formkey=dEI4blVRYW5TMUk1YUk2c24zMlhscUE6MQ#gid=0] | + | * If sending by mail, please use our P.O. box listed on our [[Location]] page. |
| + | |||
| + | === Donations by PayPal: === | ||
| + | We will soon have a new PayPal button that sends money directly to us. In the mean time, we still use our fiscal sponsor's PayPal button for electronic donations. | ||
| + | |||
| + | * Our PayPal button code identifies the funding as being for our space within the system | ||
| + | * We may additionally encourage donors to identify the purpose of the donation somewhere in the system | ||
| + | ** Ex: Does the donor expect their donation to be used for a specific event or purpose? If so, they need to note that somewhere in the system. | ||
| + | * PayPal takes 2-3% off the top of all donations it processes online | ||
| + | * The School Factory takes its 10% fee after that | ||
| + | * On a monthly basis, School Factory processes all PayPal donations: | ||
| + | ** Funds are transferred from PayPal to the School Factory bank account (takes 3-5 business days.) | ||
| + | ** Once the funds have hit the bank account, they will then cut a check to us for the NET donation amount minus the 10% fee. | ||
| + | ** If any of our donors would like to receive a formal receipt (beyond the verbiage that PayPal provides), fill out the Space Federation [https://docs.google.com/a/schoolfactory.org/spreadsheet/viewform?formkey=dEI4blVRYW5TMUk1YUk2c24zMlhscUE6MQ#gid=0 Donation Form] | ||
| + | |||
| + | More information about this process: [https://atrium.schoolfactory.org/spacefed/node/28962 https://atrium.schoolfactory.org/spacefed/node/28962] | ||
| + | |||
| + | Cash and check donations no longer have to be sent through the School Factory, nor do we need to notify them for these types of donations. | ||
| + | |||
| + | == How we process hardware donations == | ||
| + | We can take in-kind hardware donations and issue tax deductible receipts.<font color="red">It is also important to note here that we need to be selective now, that is to say that we should not accept any more busted inkjet printers and the like. However working tools and useful donations are accepted.</font> Paper donation forms are kept on a clip-board near the main entry way. | ||
| + | |||
| + | * Determine a reasonable and appropriate value for the item | ||
| + | * Suggestions: Check Amazon.com or Ebay.com for similar items | ||
| + | * Account for the age of the item when determining its value | ||
| + | * Keep one receipt for Bloominglabs and give the donor a copy | ||
| + | |||
| + | == Keeping Track == | ||
| + | For all donations of hardware (in-kind) please add the item and the donators info on this page: [[Donated Items]]. | ||
| + | |||
| + | [[Category: Operations]] | ||
| + | [[Category: Support]] | ||
| + | [[Category: Donation]] | ||
Revision as of 23:10, 23 June 2015
Contents |
Our non-profit status
Our full name is "Bloominglabs Incorporated" and we are a charitable non-profit incorporated within the State of Indiana. We have 501(c)3 status through the IRS which can be confirmed with this link.
Additionally, Bloominglabs Incorporated is fiscally sponsored by School Factory, Inc., a 501(c)3 charitable organization.
How we process monetary donations
We can directly receive cash donations and issue tax-deductible receipts. We are in the process of updating our PayPal account to reflect our new charitable status.
(Please note that membership dues are NOT tax deductible and should not be sent as a donation or sent to the School Factory, we receive those directly.)
Donations by check:
- Checks and money orders must be made out to "Bloominglabs Incorporated"
- If sending by mail, please use our P.O. box listed on our Location page.
Donations by PayPal:
We will soon have a new PayPal button that sends money directly to us. In the mean time, we still use our fiscal sponsor's PayPal button for electronic donations.
- Our PayPal button code identifies the funding as being for our space within the system
- We may additionally encourage donors to identify the purpose of the donation somewhere in the system
- Ex: Does the donor expect their donation to be used for a specific event or purpose? If so, they need to note that somewhere in the system.
- PayPal takes 2-3% off the top of all donations it processes online
- The School Factory takes its 10% fee after that
- On a monthly basis, School Factory processes all PayPal donations:
- Funds are transferred from PayPal to the School Factory bank account (takes 3-5 business days.)
- Once the funds have hit the bank account, they will then cut a check to us for the NET donation amount minus the 10% fee.
- If any of our donors would like to receive a formal receipt (beyond the verbiage that PayPal provides), fill out the Space Federation Donation Form
More information about this process: https://atrium.schoolfactory.org/spacefed/node/28962
Cash and check donations no longer have to be sent through the School Factory, nor do we need to notify them for these types of donations.
How we process hardware donations
We can take in-kind hardware donations and issue tax deductible receipts.It is also important to note here that we need to be selective now, that is to say that we should not accept any more busted inkjet printers and the like. However working tools and useful donations are accepted. Paper donation forms are kept on a clip-board near the main entry way.
- Determine a reasonable and appropriate value for the item
- Suggestions: Check Amazon.com or Ebay.com for similar items
- Account for the age of the item when determining its value
- Keep one receipt for Bloominglabs and give the donor a copy
Keeping Track
For all donations of hardware (in-kind) please add the item and the donators info on this page: Donated Items.
