Hi, I am a part of a mutual aid group in Brooklyn. In the last few months, the group has expanded and is now operating as essentially a food pantry twice a week. We are completely donation based. The problem is that since March, all of the donations we received have gone to one persons bank account, and all of the money spent comes out that account to reimburse people. We receive and spend roughly $10,000+ per month. They recently made a business/community group bank account but it is still tied to their ssn. This person typically makes a very small yearly income and was advised that all of this activity could result in them being audited. We are looking for ways to handle our finances in a way that does not put the burden on one person, and avoid issues with the irs. Any advice is appreciated! We have considered becoming a non-profit but would prefer to avoid that if possible. Thank you!
Submitted September 06, 2020 at 10:44PM by throwaway7828928 https://ift.tt/322u8C5
