Travel Team funds

[GoGamecocks]

I'd do what Judge Judy would do.
Give the original 6 an equal share of the $1000 and call it a day.

And you have to send each of the six a 1099 so they can pay taxes on that.

 

[625ender]

I do not think you will get chased down for the amount of money we are talking about here but it was raised for team X not your DD and her friends.

I would transfer the entire amount to the Team and walk away.

Yep keep it simple

 

[livingontheroad]

So you're the organization?

Or are you the only authorized representative for the listed organization?

Did you tell people they were raising money for you and not a softball team? Or did you have them raise money for you under false pretenses? In some legal circles that will be called fraud.

typically you have an organization you list the authorized representatives you've got members and who organizations that receive the benefits from what you do.

Sounds to me like you did some questionable things.

If anywhere on your paperwork it said the XYZ ball-busters were a benefit of your funds that is where the money needs to sta

To be quite blunt it's only messy because you want to keep the money, and you believe you deserve it because you brought money into the original arrangement. A 501 c 3 is not a pass-through account to shield individuals assets.... That is how you're trying to use it for certain players ... And yourself.

Donate it to charity clothes organization start fresh. Donating it to yourself for another team is sketchy as hell.

 

[BT3100]

And you have to send each of the six a 1099 so they can pay taxes on that.

Is that considered earned income or are you referring to the fact that they may have claimed it as a donation?