Here is the information you need to set up a
bank account for your Alumnae Chapter. You definitely want
to open a nonprofit checking account. They are cheaper (MUCH)
and accurately reflect the status of the group and facilitate
any dealings with the IRS. Most banks require that you have
an Employer Identification Number (EIN) or they will not give
you special nonprofit account privileges (reduced/no fees,
etc). You should talk to the bank you plan to open an account
at first and find out what their policy is with nonprofit
entities. It varies by bank.
There are generally some things that need to
happen before you can open an account…
1) Establish the legal name of the alumnae chapter.
The Chapter's Charter, issued by Alpha
Phi International upon approval of your Alumnae Chapter Petition,
establishes the legal name of the chapter. The Charter is
complemented by the Chapter's Bylaws, which detail the Chapter's
officer structure and operating rules. You may already have
a Charter and Bylaws. If not, you should make a quick call
to the program Manager of Alumnae at the Executive Office
(847-475-0663) to confirm the status of your Charter and to
see if she has a copy of your Bylaws on file. If you already
have them both, then it's less for you to do :-)
Often, a chapter will run the initial dues checks
and expenses through an individual's existing account until
they have completed the process to establish a chartered alumnae
chapter. The volume is initially minimal and the time period
is typically short (turnaround time for Petition to be processed
and Charter to be approved/issued). This may or may not be
the way you choose to start. You may also hold dues checks
for the short time necessary to complete the charter process
and simply deposit them when the chapter's account is available.
You need a legal name to get an EIN, but another
idea is to interpret the IRS' Instructions to our advantage.
For example, the instructions regarding the legal name state
you must, "Enter the legal name of the entity applying
for the EIN exactly as it appears on the social security card,
charter, or other applicable legal document." The "other
applicable legal document" can be the Chapter's Bylaws.
This, of course, means that the name of the chapter on the
Charter MUST be consistent with the name on the Bylaws.
2) Obtain an Employer ID#.
To establish the alumnae chapter as a nonprofit,
you will need to apply for an EIN with the IRS (Form SS-4
- can be viewed and printed at http://ftp.fedworld.gov//irs-pdf/fss4.pdf).
Complete the form. Note that you will need Alpha Phi International
Fraternity's General Exemption Number (GEN) to respond to
Question 8a. The GEN # is 1038.
In the IRS' SS-4 instructions, it indicates
that you can apply for the EIN over the telephone (you must
have the completed SS-4 form available when speaking with
Tele-TIN). You will receive the EIN immediately over the phone.
You must record the EIN on the form and then mail or fax the
original (retain a copy) WITHIN 24 HOURS. The Tele-TIN phone
numbers and mailing addresses for the forms are as follows:
**Florida, Georgia and South Carolina:
Tele-TIN Phone #: 770-455-2360
Mailing Address: IRS, Attn: Entity Control, Atlanta, GA 39901
**New Jersey, New York (New York City and counties
of Nassau, Rockland, Suffolk and Westchester):
Tele-TIN Phone #: 631-447-4955
Mailing Address: IRS, Attn: Entity Control, Holtsville, NY
00501
**New York (all other counties), Connecticut,
Maine, Massachusetts, New Hampshire, Rhode Island and Vermont:
Tele-TIN Phone #: 978-474-9717
Mailing Address: IRS, Attn: Entity Control, Andover, MA 05501
**Illinois, Iowa, Minnesota, Missouri, Wisconsin:
Tele-TIN Phone #: 816-926-5999
Mailing Address: IRS, Attn: Entity Control, Stop 6800, 2306
E. Bannister Road, Kansas City, MO 64999
**Delaware, District of Columbia, Maryland,
Pennsylvania and Virginia:
Tele-TIN Phone #: 215-516-6999
Mailing Address: IRS, Attn: Entity Control, Philadelphia,
PA 19255
**Indiana, Kentucky, Michigan, Ohio, West Virginia:
Tele-TIN Phone #: 859-292-5467
Mailing Address: IRS, Attn: Entity Control, Cincinnati, OH
45999
If you do not apply for the EIN# over the phone,
the IRS indicates that there is a 4-5 week turnaround time
for processing.
3) Open a bank account.
Using the legal name of the chapter, an
authorized officer (as stipulated in the Chapter's Bylaws),
may open a bank account. We suggest that you have two authorized
signers to ensure that there is dual control and that your
chapter does not experience a financial emergency when your
Treasurer is unavailable (e.g., vacation).
For any questions or comments about this Web
site e-mail webmaster@alphaphi.org.
