Feeling nervous about starting a new Idaho booster club? It can be intimidating for most people. However, we here at Booostr have put together a handy guide to help you along the way! Throughout this guide you will find many helpful resources that will provide you with the information you need to understand each step. The resources cited will provide you with the most up to date and reliable step by step information in the process of establishing your Idaho booster club.
You want to start a booster club, but it has to have a name, right? The name of your club lets your audience know who you are and what you do. It also has to be something unique, to avoid choosing a name that is already being used by another organization. We suggest starting with a list of 10-15 different options for the name of your club. Once you have compiled a list, you can now consult the Idaho Secretary of State website to access a corporate search engine that has the names of organizations (including booster clubs) registered in the state of Idaho. Once you have decided on a name you can then move on to crafting your club’s mission statement.
The main focus of your Idaho 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 Idaho school’s mission. Any supporter, volunteer or student should clearly understand the basics reasons the club exists after reading this short succinct summary.
Your Idaho 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 Idaho 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 Idaho law.
Selecting the board of directors for your new Idaho booster club can be a little nerve-wracking. It is important to carefully select board members that have both strong management and communication skills. Because states differ on the number of board members a club has, we suggest sticking with 3. Keeping this group small makes it easier for quick decision making, which is very helpful in these early stages. Once you have established the board of directors, they will then vote to determine who will be the club officers.
The officers of your new Idaho booster club are in charge of taking care of the day to day activities involved in running your club. 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. Your best bet is again choosing individuals with both strong management and communication skills. Cultivating a group of strong individuals to run your club now, will pay off tenfold in the future.
The club’s first meeting can be a bit nerve wracking because there is so much to cover, but don’t worry. From here on out things should begin to fall into place. The first task of the meeting is to approve 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 you have completed all of your state level paperwork, you can then file for an Employer identification number. You will need your EIN later on when opening a booster club bank account. All the information and forms related to obtaining your EIN is available on the IRS website.
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 Idaho will be needed by the IRS.
In order for your Idaho booster club to become a nonprofit organization, you need to jump through a few hoops with the IRS. Once again, all of the information you need to become a non-profit organization will be available on the IRS website. It’s here that you will find all of the forms needed to fill out when establishing a new Idaho booster club, a nonprofit as well. 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 a great way for both your Idaho booster club and your club supporters save money. Although filing for tax-exemption is not necessary, we highly suggest it. 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! All of the information and paperwork you will need is 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 Idaho.
The last step in establishing your new Idaho booster club is to open up a club bank account. A bank account simplifies keeping of your club’s money. Without a bank account, things can become disorganized very quickly. A bank account makes tracking money come in and going out much easier. A bank account also makes potential theft within the club much harder. Opening a bank account will decrease the potential for mismanagement of funds and maintain the trust of donors and supporters. With a bank account your club will now be able to hold online fundraisers! Your Idaho 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.
Congratulations! You started Idaho’s newest booster club! Before you go there are a few things to remember. It is important to keep up with current Idaho 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 Idaho booster club’s good legal standing. As your club continues to expand, be sure to keep checking in with us at booostr.co. We are always adding new and helpful articles regarding help managing, marketing or fundraising for your booster club!