Difference between revisions of "Donations"

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(Updated to reflect our new 501c3 status)
 
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== Our non-profit status ==
 
== 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 Incorporated is fiscally sponsored by School Factory, Inc., a 501(c)3 charitable organization.
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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].
  
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Additionally, Bloominglabs Incorporated is fiscally sponsored by School Factory, Inc., a 501(c)3 charitable organization.
  
 
== How we process monetary donations ==
 
== How we process monetary donations ==
Since we are fiscally sponsored by the School Factory, all monetary donations are required to go through them. Our PayPal button on our front page goes directly to the School Factory, and all cash and check donations must be mailed to the School Factory. The School Factory takes 10% and then sends us back the rest. (Please note that membership dues are NOT tax deductible and should not be sent to the School Factory, we receive those directly.) Cash donations under $250 do not need to go through School Factory (and receipts for donations less than $250 are not required by the IRS), however they can be submitted if a receipt is still requested by the donor.
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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.  
  
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(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: ===
 
=== Donations by check: ===
* Checks must be made out to "School Factory, Inc."
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* Checks and money orders must be made out to "Bloominglabs Incorporated"
* We should check first, but cash should be in the form of a money order
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* If sending by mail, please use our P.O. box listed on our [[Location]] page.
* Donors (or you) should add Bloominglabs to the memo line, so they know who the donation is for.
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* Get these checks to Meghan Koven, Operations Director for processing (done on a weekly basis).
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<pre>
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Mail to: School Factory, Inc.
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706 South 5th Street
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Milwaukee, WI 53204
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</pre>
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* All donations are subject to a 10% School Factory administration fee
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* School Factory will then cut a check to us for the total donation amount minus the 10% fee.
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* Fill out the Space Federation [https://docs.google.com/a/schoolfactory.org/spreadsheet/viewform?formkey=dEI4blVRYW5TMUk1YUk2c24zMlhscUE6MQ#gid=0 Donation Form] for all cash/check donations
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=== Donations by PayPal: ===
 
=== Donations by PayPal: ===
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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.
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* Our PayPal button code identifies the funding as being for our space within the system
 
* 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
 
* We may additionally encourage donors to identify the purpose of the donation somewhere in the system
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More information about this process: [https://atrium.schoolfactory.org/spacefed/node/28962 https://atrium.schoolfactory.org/spacefed/node/28962]
 
More information about this process: [https://atrium.schoolfactory.org/spacefed/node/28962 https://atrium.schoolfactory.org/spacefed/node/28962]
  
TL;DR: just fill out the [https://docs.google.com/a/schoolfactory.org/spreadsheet/viewform?formkey=dEI4blVRYW5TMUk1YUk2c24zMlhscUE6MQ#gid=0 Donation Form] for cash and check donations (and if the donor wants more than just the paypal receipt for electronic donations):
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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.
 
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== How we process hardware donations ==
 
== How we process hardware donations ==
We can take in-kind hardware donations without any paperwork. If the donor would like a receipt then we need to identify an appropriate value for the item and fill out the School Factory Donation Form.
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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
 
* Determine a reasonable and appropriate value for the item
* Suggestions: Check Amazon.comor Ebay.com for similar items
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* Suggestions: Check Amazon.com or Ebay.com for similar items
 
* Account for the age of the item when determining its value
 
* Account for the age of the item when determining its value
* Complete the [https://docs.google.com/a/schoolfactory.org/spreadsheet/viewform?formkey=dEI4blVRYW5TMUk1YUk2c24zMlhscUE6MQ#gid=0 Space Federation Donation Form]
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* Keep one receipt for Bloominglabs and give the donor a copy
* You will need to describe the donated item(s) as well as their appropriate value
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* School Factory will issue a formal receipt to the donor
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== Keeping Track ==
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For all donations of hardware (in-kind) please add the item and the donators info on this page: [[Donated Items]].
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[[Category: Operations]]
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[[Category: Support]]
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[[Category: Donation]]

Latest revision as of 23:10, 23 June 2015

Contents

[edit] 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.

[edit] 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.)

[edit] 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.

[edit] 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.

[edit] 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

[edit] Keeping Track

For all donations of hardware (in-kind) please add the item and the donators info on this page: Donated Items.

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