HOW TO CREATE A BOOSTER CLUB IN VERMONT

Founding a booster club in Vermont is actually easier that it seems, especially with our help! It is important to note that there are regulations determined by both the state of Vermont and the federal government that each new Vermont booster club must follow when being created. Using this guideline to help you through the process you’ll have a successful Vermont booster club up and running in no time!

Consult Vermont Secretary of State Website

The Vermont Secretary of State website is a great resource for you to begin gathering information on starting a new Vermont booster club. The Vermont SOS website is the best place to get accurate and up-to -date information as well as forms and instructions. We suggest you avoid using 3rd party sites because they may not have the most accurate information or information that is specific to Vermont. Once you have familiarized yourself with the Vermont SOS site it’s time to choose a name for your new booster club!

Create A Name For Your Vermont Booster Club

The name of your new Vermont booster club is very important as it will be on all of the paperwork you file with the state and federal government. To identify a business name that is available, we suggest you compile a list of several potential names for your booster club to avoid choosing a name that has already been used. You’ll want to choose a name that is both professional and unique. In Vermont  your booster club’s name must contain one of the following words: “association,” “company,” “corporation,” “club,” “foundation,” “fund,” “incorporated,” “institute,” “society,” “union,” “syndicate,” “limited,” or one of the abbreviations “co.,” “corp.,” “Inc.,” or “ltd.” Once you have put together a list of names you are happy with, use the Vermont SOS name search engine to be sure that your particular name has not been used.

Your Vermont Booster Club Mission Statement Speaks Volumes

When you are building your Vermont booster club, it is important to craft a meaningful and concise mission statement. This statement should quickly communicate the overall purpose of the organization, defines who the organization is, why it exists, and who benefits from the work of the organization. After you have completed your mission statement, the next step is to write your club’s bylaws.

Preparing Vermont Booster Club Bylaws

Before you file your articles of organization, you’ll need to create club bylaws that comply with Vermont law. Your Vermont booster club bylaws contain the rules and procedures your corporation will follow for holding meetings, electing officers and directors, as well as taking care of other corporate formalities required in the state of Vermont. Note, as with other states, your organizational bylaws do not need to be filed with the state — they are simply your internal operating manual.

Selecting The Club’s Board of Directors

When selecting your Board of Directors, it is important to choose individuals who are business minded with strong management skills. The booster club’s board of directors should operate with the club’s best interest in mind and should be a group of extremely trustworthy people. It is important that the board of directors understand the importance of their role in the club and are committed for a longer period of time to avoid turnover.

Holding A First Meeting of Your Vermont Booster Club

The first club meeting can be a little intimidating with so much to cover, but by this point you will be prepared! The items that must be covered during the first meeting are: approving the bylaws, appointing officers, setting an accounting period and tax year, and approving initial transactions of the corporation (ie. such as the opening of a corporate bank account). Once these items are out of the way, then your Vermont booster club first meeting is complete! Now there are only a few more steps before your club is fully up and running!

Appointing Your Vermont Booster Club Officers

When nominating or appointing your Vermont booster club officers, it is important to bring on officers who will take care of the booster club and manage their role professionally. Be sure that the officers you select are considered based on their expertise, interaction with parents and kids as well as their focus on the development and growth of the club. Creating a trustworthy and motivated group of individuals will set your booster club up for success!

Obtain an EIN (Employee Identification Number) for Your Booster Club

Like the Vermont Secretary of State Website, the IRS website is a great resource for all of the federal government information you will need regarding starting your Vermont booster club. The first important item to tackle while on the IRS website, is applying for an Employee Identification Number (EIN). Every business needs an EIN in order to open a bank account, conduct business to business transactions and for certain types of fundraising. Filing for an EIN is easily done via the application process found on the IRS website.

Consider Tax Exempt Status For Your Vermont Booster Club

While it is not necessary, we here at Booster highly recommend you go through the extra steps to apply for tax exemption for your Vermont booster club. Becoming tax exempt grants your booster club the opportunity to save money by not collecting and managing sales tax and allows your donors to write their donations off on their taxes. All of the information and paperwork for becoming tax-exempt is available on the IRS website. The basic step-by-step process listed on the site is as follows:

  • Apply for EIN (Employee Identification Number).
  • Complete and submit the IRS Form 1023
  • Once the IRS Form 1023 has been approved, you will be eligible for tax-exemption in Vermont

Manage Transactions Easier With A Booster Club Bank Account

The final step in creating your Vermont booster club is opening a business bank account. Having an account makes managing your Vermont booster club funds so much easier. Here is the process for opening a bank account:

  1. Select the bank
  2. Provide a copy of all the legal documents of your Vermont booster club
  3. Copy of forms that you filed through the IRS
  4. Proof of tax exemption
  5. EIN
  6. Photo ID proof
  7. Social security card for all members who need access to the account
  8. Any other information your particular bank requires

Creating a bank account for your Vermont booster club is essential in managing the club’s finances. There are transaction reports for tracking and your booster club can collect donations both online and offline. Another benefit to a business bank account, is it is much easier to pass off to new booster club management!

 

Now that your Vermont booster club is up and running, there are a few things to keep in mind. Be sure that your booster club stays up to date on Vermont law, regarding booster club management. Also know that there are yearly fees and dues that need to be paid to the state to keep your organization in good standing. If you need further help managing or marketing or fundraising for your booster club, be sure to check out the articles and toolsets available on booostr.co. Happy Fundraising!

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