Banking Crowded Blog
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Get helpful financial management tips for your nonprofit group from the Crowded blog, designed to help leaders, treasurers, and organizers. Discover our key tips, expert advice, and practical tools to help your nonprofit thrive financially. Crowded's digital banking platform, simplifies financial management for nonprofits at the chapter and national level.
Banking Crowded Blog
1M ago
At a high level, Crowded offers nonprofit bank accounts, which allow nonprofits of all sizes to securely store their money, maintain transparency within their organization, collect payments & donations, issue debit cards, stay compliant with IRS regulations, and make payments to individuals.
On the other hand, Billhighway is a chapter management software provider that provides services for multi-chapter nonprofits around chapter banking, event management, collecting payments, and website management.
There are ways where Crowded and Billhighway’s services overlap, but overall Crowde ..read more
Banking Crowded Blog
2M ago
What are nonprofit bylaws?
Bylaws for nonprofits are a set of rules that your nonprofit will be legally bound to abide by. These bylaws should outline how your nonprofit will operate, elections, board member responsibilities, membership qualifications and more.
What should be included in nonprofit bylaws?
For your nonprofit’s bylaws, you should create regulations that will allow your nonprofit to function the way you envision it. Do not be afraid to create procedures for worst-case scenarios like kicking someone off the board or revoking membership. At the same time, do not be too restrictive ..read more
Banking Crowded Blog
2M ago
Have you ever wondered about incorporating your nonprofit but weren’t sure what it entailed or if it was worth the effort?
This nonprofit incorporation guide covers everything you’ll need to know about incorporating your nonprofit and answers the most common questions, so you can focus on what matters: making a difference.
What is nonprofit incorporation? Should your organization incorporate?
Incorporating your nonprofit is the process of giving your organization a legal identity. It makes it eligible for tax-exempt status with the IRS and allows your organization to conduct critical busines ..read more
Banking Crowded Blog
2M ago
In the world of nonprofits, knowing how tax exemptions work can make or break your organization. No matter if you’re an experienced leader or just starting out, this blog will help you understand the impact of tax exemption, how to apply for it, and how to maintain your nonprofit’s compliance.
It’s not just about tax codes; it’s about keeping your organization active and impactful.
What is nonprofit tax exemption?
A tax exemption for nonprofits refers to a special status granted by the Internal Revenue Service (IRS) at the federal level. This status relieves qualifying nonprofit organizatio ..read more
Banking Crowded Blog
2M ago
Fortunately, getting an EIN and using it to register your organization with the Internal Revenue Service (IRS) is a straightforward process. This article will provide everything you need to know about why an EIN number matters and how you can apply for one.
What is an Employer Identification Number?
Your organization’s EIN is the unique identifier that the IRS and other government agencies will use to identify your organization. It’s a simple nine-digit number with the format XX-XXXXXXX. Your EIN is unique to your organization, there aren’t any other nonprofits or businesses with the ..read more
Banking Crowded Blog
2M ago
While Venmo may seem like the obvious choice for payment and donation collection due to its widespread usage, it lacks the features, security, and the reliability necessary for organizational sustained use.
Continue reading to learn why Venmo and other peer-to-peer (P2P) payment apps like Cashapp, Paypal, Zelle etc. should absolutely be avoided by schools, charities, sports teams, fraternities and all types of nonprofits. Find out how to choose the right online payment collection solution for your nonprofit’s needs.
What Is Venmo?
Venmo is a popular platform for making personal, peer-t ..read more
Banking Crowded Blog
2M ago
Running a successful membership group, whether it’s a booster club, Greek life organization, sports team, or another type of group, is within your reach!
With club membership, it’s the more the merrier, so we racked our brains and came up with 10 fresh tips to get your membership counts up. Don’t worry these tips mostly require time and creativity – no big budget required. By implementing these strategies, you can create and nurture a thriving community.
5 tips for growing your club’s membership
When you are just starting your club, it might seem hard to attract members. But, taking the pro ..read more
Banking Crowded Blog
2M ago
Are you setting up a nonprofit that will have multiple sub-chapters or already part of a larger nonprofit? If so, keep reading to learn about the group exemption.
Whether you are a large nonprofit organization with many sub-chapters, or a new sub-chapter, it’s important to know about the group exemption option for filing with the IRS. A group exemption could be a game-changer for your nonprofit, reducing time and money spent on reporting, and stress. This article will go through everything you need to know about it: what it is, who it applies to, why it’s beneficial and more.
What is a grou ..read more
Banking Crowded Blog
2M ago
For universities with dozens of sports teams, clinical research trials, traveling professors and more, managing these expenditures is a full-time job.
Specifically university athletic departments need a better solution for paying per diems. They typically either pay the team’s coach, or the athletes directly for their per diem expenses while traveling and other expenses they incur related to team activities.
Some athletics departments use cash, team-wide prepaid cards, or bank transfer funds into the coach’s personal account for them to distribute (either through cash, Venmo, or other ..read more
Banking Crowded Blog
2M ago
Choosing the best bank for your nonprofit sets up your nonprofit for long term success. Banks that are specifically geared towards nonprofits, or have a nonprofit offering will fit your organization’s needs better than a regular bank account. Your specific needs around transactions, reporting, fundraising, receipts will be better understood by these banks.
Don’t worry, we’ve made it easy for you to evaluate the different options on the market, just keep reading.
The different types of banks for nonprofit groups Digital bank
Digital banking apps are great for convenience. Account setup and m ..read more