I have recently become the new Treasurer for my Pack. I am in the process of transferring over everything from my predecessor and have a few questions I am hoping someone can help me with.
We are a new pack which was established in 2019. Since we are new, I feel that some of the actions taken in setting up our financials could have been better. For example, the previous Treasurer had established our bank account, Paypal account, and EIN with her personal address. Is this common? I would think that it would better serve the Pack to obtain a P.O. Box to use as it’s official address.
For the EIN, I was told that I would need to apply for a new one using my personal information such as my address. Is this the best way to do this? I assume that because the previous Treasurer used her own information, she wants to be “released” from it being associated with her. I think this is where having an established P.O. Box would be more advantageous.
I was told that our Charter Organization, a United Methodist Church, no longer wants to be associated with our Cub Scout Pack and Boy Scout Troop due to legal issues. Although they want to distance themselves from us, they have agreed to still let us use their facilities. What implications does this have on the Pack/Troop? This leads me to my next set of questions.
Would it be to our benefit to apply for tax exempt nonprofit via a 501(c)(3)? Do the benefits outweigh the time and cost? I know this is not recommended by BSA of America, but is not prohibited.
Thank you for your time and thoughts.
Shane Rogers, Treasurer
Cub Scout Pack 222