Looking to start a Minnesota booster club? Well, Booostr is here to help. Throughout this article you will find all of the information you will need to successfully create your very own booster club. There are many sites linked below that will help to simplify this process, making it a little less scary. This guide is a step-by-step process on how successfully get your booster club up and running with the most reliable and up to date information out there.
Can’t wait to give your Minnesota booster club a new name? Well, it is very important that you choose a name that is not already in use. We suggest starting with a list of 10-15 potential names. Choose a name that lets your audience know exactly what your club s all about. One you have gathered your list of potential names, you should check the Minnesota Secretary of State corporate search engine to be sure your name isn’t already being used by another corporation. Once you have an available name, you can reserve it. Reserving your name prevents other nonprofits or businesses from taking that name while you continue to gather all of your legal documentation.
Who is your booster club? What are its values? The main focus of your Minnesota booster club mission statement is to define who the organization is, why it exists, and who benefits from the existence of the organization. Your mission statement is a great opportunity to team up with your affiliated Minnesota school’s mission. Any supporter, volunteer or student should clearly understand the basics reasons the club exists after reading this short succinct summary.
Your Minnesota booster club bylaws contain the rules and procedures your booster club corporation will follow. Your bylaws do not need to be filed with the state of Minnesota but are important as they are your internal organizational operating manual. Before you file your articles of incorporation, you’ll need to have bylaws that insure your club is operating correctly under Minnesota law.
Choosing the board members of your club is one of the most important tasks in creating your new organization. Your board members will help guide the business forward for years to come. We suggest following three core rules when selecting your board members:
Bringing in different board members with different business and life experiences increases the brain power and perspective around any decisions that need to be made for the club. By your board members not having a child involved in the booster club activity, you are ensuring longevity in their board positions as they will not leave when their child quits the activity, graduates etc. Keep in mind you can add as much criteria around your board member selection above and beyond these three core points.
When you go to select your board, you need to review your state’s requirements around the amount of board members. We suggest you club choose three members, to keep it small. A small board making decisions is a lot more effective and efficient. Once you have established the board of directors, they will then vote to determine who will be the club officers.
An officer oversees the everyday tasks involved in running a booster club. Because of this responsibility, it is important to appoint club officers who will take care of the booster club and assure that everything is managed professionally. You want to make sure that your club officers are appointed based on their expertise, interaction with parents and kids and their focus on the development and growth of the club. Creating a strong group of leaders now will help further down the road.
Holding your Minnesota booster club’s first meeting is a huge milestone. The first objective of the meeting is to approve of the club’s bylaws. Once the bylaws have been approved, the group needs to determine the best accounting period and tax year would be best for the club. Your club’s fiscal year should coincide with the club’s activity season and if possible, the school’s fiscal year. It’s also at this point that you need to nominate your club officers for board approval. Finally, if your organization is ready, your board can approve the opening of the booster club business bank account and approve any initial transactions.
Once all of your booster’s state level paperwork is complete, you will want to file for your Employer Identification Number. You can access all of the forms necessary for this process on the IRS website. You might be thinking, why would I need an EIN? Well, most states require an EIN in order for your club to open a bank account. Be sure to keep all of your documents in order because they will need to be approved by the state of Minnesota and copies will be needed by the IRS.
To apply for Non-profit status, you need to go back to the IRS website. There you will find all of the information you will need to know regarding becoming a non-profit on the federal level. You will also find all of the forms you need to complete in order to be recognized on the state level. Furthermore, the IRS also provides tax information for nonprofits, which will be helpful if you should decide to make your booster club a tax exempt organization.
Becoming tax-exempt is a great way for your club and its members to save money! Although it is not necessary, we suggest you apply to become tax-exempt and save some money. Tax-exemption means that your club is excluded from most sales tax and any donations or purchases made through a tax-exempt organization can be written off on personal and business taxes. It’s a win win win for everyone involved! Once again, all of the information you need is on the IRS website. The basic step-by-step process listed on the site is as follows:
Opening a bank account is the last step in creating your new Minnesota booster club! With a bank account it becomes much easier to keep your finances organized. Opening a bank account will decrease the potential for mismanagement of funds and maintain the trust of donors and supporters. Without a bank account it can be much easier for potential theft within the club. An added bonus of opening a bank account is that your club will now be able to hold online fundraisers. Opening a Minnesota booster club bank account is critical to more easily collect donations, manage finances and in the long run, it will be much easier for future management to take over.
Great, you did it! You are the proud new owner of a Minnesota booster club! Now that your club is all set up, there are a few things to keep in mind. It is important to keep up with current Minnesota law, regarding booster club management. You also need to stay on top of yearly fees and dues that need to be paid to the state in order to maintain your good legal standing. Finally, don’t forget to keep checking in on Booostr for more help managing, marketing or fundraising ideas for your booster club!