Setting up a team

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Jul 25, 2018
7
0
Hello all! This is my first post so I apologize if I’ve posted In the wrong place! My husband and I are in the process of trying to start a new travel 12U team. We’ve got a great group of girls that we coached in Rec ball and feel they deserve an opportunity to play. For different reasons trying out for area teams isn’t an option for most of them. Sooooo, here we are, ready to do our part in making this happen for them. Myself and another mom have been tasked with dealing with the “paperwork”. I’m confused with the whole 501c3 business, if it’s even necessary. I’ve spoke with a few involved in Rec ball and their advice is mixed. Some say we have to have it, some say we only need to set up a bank acct and handle the money that way. What is the overall opinion on this? Is setting up a bank account and winging it really that easy? Will it cause issues with taxes down the road? Any info would be much appreciated! Thanks!
 
Oct 11, 2010
8,337
113
Chicago, IL
Go to accounted, they should be bored right now.

If you want to be non profit organization there are rules you need to follow. Good news is Bob's barbecue might throw you a few hundred bucks because it is tax deductible to them.
 
Apr 20, 2015
961
93
The paperwork involved in the 501 is very complex you have to have a board, rules etc...its nuts. You can get a tax ID for banking purposes only under your team name and do it that way. You could also set up a separate email and separate checking account in your name and have everyone use PayPal which will keep records of who sent you what money

Sent from my SM-G960U using Tapatalk
 
Oct 21, 2016
189
28
501c3 takes a while, so if your thinking of starting to play this season you will be starting with out it. Many teams and large organizations don't have it because they are run like businesses vs. a non-profit and set up to make the people at the top money. Considering your a first year team moving up from rec I wouldn't worry about it for now. If you want to protect your self you can get a cheap quick LLC but not sure that's necessary either. Just set up a bank account, get some team insurance and see if you can make the whole thing go before you invest resources in a 501c, or really anything. No offense, but you probably have a 50/50 shot to make it through year 1 and keep going. If it takes off you can worry about all that later. Or, something we did with the first team I coached and DD played was latch onto a local organization and see if you they will take you as a whole team. They would then have a board with a treasurer who would handle all the money and you would probably have access to resources you wouldn't have otherwise.
 
Sep 28, 2015
150
18
As mentioned you can decide how much separation you want with your name and the team name.

In most cases just set up another savings account dedicated for Team use so you have clean bank transactions. All money coming and going will move thru this account so it is logged. Start with $3k as a beginning balance for a team balance of $0.

Log all costs on a spreadsheet for further explanation and budgeting purposes and stay organized. That means the checks will be in your name and not the team (new bank account in the Team name would be cool too). Collect money of say $100 or $200 at the beginning of the year as a deposit, collect a bulk of the costs after uniforms/ fan gear are delivered and you can add most of the tourneys. Then about 2 weeks before the end of the year collect the final small amount left to be paid.

Finally, be sure to get Team insurance such as USSSA for $150 a yr. Don’t forget to include costs of nets, balls, heavy balls, line up cards, facility rentals.

Be organized and transparent and get a good forecast out there early.

Don’t volunteer to do the uniforms!

Good luck,


Sent from my iPhone using Tapatalk
 
Jul 25, 2018
7
0
Thank you all for the advice! Yes, I keep hearing that we aren’t going to make it. I don’t take it personal, I understand it’s how it goes. It only makes me want it more, for the girls. One of which is my own. So, I will take this info to the other coaches and parents and go from there. I just wanted to be sure that we wouldn’t be breaking any tax laws or anything by not having the non-profit.
 
Oct 11, 2010
8,337
113
Chicago, IL
You setting up your own team, not sure about. Do you need a SS?

Leagealy I think it takes couple of hundred bucks.

Money you need to spend IMO.
 
Oct 21, 2016
189
28
We did almost exactly what your trying to do, but latched on with a local organization. Two Little League coaches with the best 11 and 12 years old in the area not already on a travel team. Year 1 was ruff as we managed through figuring out everything the for first time, but everyone had fun and got better. Year 2 started out good with high expectations, but as the year went on it began to fall apart. Team cancelled 4 of our last 5 tournaments and fell a part earlier this month. Priorities change when girls become teenagers.

I'm rooting for you. Good Luck!
 
Jul 25, 2018
7
0
This project is being taken on by myself, my husband, an ex-travel coach who coached our daughter in Rec ball previously, and one other parent. We are okay with having to put a little money in it to get it started, and also to keep it running. Thankfully, we have quite a few sponsors already lined up. Crossing fingers that pans out! We do expect a few bumps in the road. My main concern at this point is getting it all set up correctly.
 

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