Have you considered creating a booster club in Wyoming? It can be intimidating for most people. However, we here at Booostr have put together a handy guide to help you create a Wyoming booster club. To ensure that legally your booster club is up to par, it is important to thoroughly consult all of the links and legal references provided below. The resources cited will provide you with the most up to date and reliable step by step information in the process of establishing your Wyoming booster club.
The very first step you should take in creating your Wyoming Booster Club, is of course – the name! We suggest starting with a list of 10-15 different options for the name of your club. Be sure to pick a unique name for your Wyoming booster club, both to avoid using another club’s name and to ensure your audience understands who you are and what you do. Once you have compiled a list, you can now consult the Wyoming Secretary of State website to access a corporate search engine that has the names of organizations (including booster clubs) registered in the state of Wyoming. If you complete a search and no one has your name of choice, Wyoming then allows you to reserve that name. This prevents another nonprofit or business from registering under your chosen name while you continue to prepare the necessary legal documentation.
The main focus of your Wyoming booster club mission statement is to define who the organization is, why it exists, and who benefits from the existence of the organization. The mission statement is a great opportunity to partner with and/or use as a reference your affiliated Wyoming school’s mission. Any supporter, volunteer or student should clearly understand the basics reasons the club exists after reading this short succinct summary.
Your Wyoming 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 Wyoming, 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 Wyoming law.
Now its time for your Wyoming booster club to select its initial board members. It is important to note when choosing board members, states differ in the number of directors they require on the club’s board of directors. We suggest keeping the board fairly small, typically 3 members. Having a small board makes it easier to get decisions made quickly, which is especially important at this early stage. Once you have established the board of directors, they will then vote to determine who will be the club officers.
Your Wyoming booster club officers are in charge of overseeing the day to day of different departments of the 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. This is the only way future of booster club will be secure.
Now that you have made it to your first meeting, everything should begin to fall into place with a little bit of work. The first task of the meeting should be to approve the bylaws that should contain information about the rules and procedures of your organization. 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.
Filing for an Employee Identification Number (EIN) with the Federal Government via the IRS is the next important step after completing all of the state level paperwork for establishing your new Wyoming booster club. All the information and forms related to obtaining your EIN is available on the IRS website. You might wonder why you need an EIN? Well for example, in order to open a business bank account for your booster club, most states require an EIN. Make sure that you have all of your state documents in order as you fill out the EIN application as much of the information submitted and approved by the state of Wyoming will be needed by the IRS.
In order for your Wyoming booster club to become a nonprofit organization, you need to jump through a few hoops with the IRS. Simply go to the IRS website and you will be shown all of the information needed in becoming a non-profit in the Federal Government’s eyes. It’s here that you will find all of the forms needed to fill out when establishing a new Wyoming booster club a nonprofit. The IRS also provides tax information for nonprofits, which will probably helpful if you decide to make your booster club a tax exempt organization.
Filing for tax-exemption is not necessary, but highly suggested. This is a great way for both your Wyoming booster club and your club supporters save money. Tax-exemption means that your club is excluded from most sales tax and any donations or purchased made through a tax exempt organization can be written off on personal and business taxes. It’s a win win win for everyone involved! To begin this process, all of the information and paperwork for become 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 Wyoming.
The final step in the creation of your new Wyoming booster club is to open your club’s bank account. Without a bank account handling the money coming in and going out of the club can get very disorganized and confusing. On top of disorganization, without a bank account it is much easier for potential theft within the club. Opening a bank account will decrease the potential for mismanagement of funds and maintain the trust of donors and supporters. Furthermore, having a bank account makes holding online fundraisers possible for your booster club as well. Your Wyoming 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.
You did it! You started Wyoming’s newest booster club! Now that your club is ready to go, there are a few things to remember. It is important to keep up with current Wyoming 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 to maintain you Wyoming booster club’s good legal standing. As you move forward with your club, keep checking back on Booostr for further help managing, marketing or fundraising for your booster club!