I have checked out other posts and can't find my exact problem answered. We are not accepting any payments for reunion tickets other than Paypal or cash at the door. I have no intentions of having any leftover money in our Paypal account when everything is said and done. Anything extra will pay for door prizes at the reunion or will be donated to a cause in a deceased classmates' name. Will I have any trouble with the IRS? Thanks!

You shouldn't. Paypal asked for tax exempt status; but I didn't any paperwork except our FEIN (Federal Tax Identification#). Basically all you have to is submit a copy of your Tax ID # from the IRS; a copy of your 1st Bank statement as well as a Organization by-laws (which I needed to open a bank account). The bank waived all monthly bank fees and provided us with a box of free checks so there was no startup costs to open the account other the $100 I fronted. Just make sure that you specify that you do not want an interest bearing checking account. I set up records on Quicken to track all expenses and payments. If we should happen to have any funds left over when we are ready to close out the account (which I seriously doubt); I plan to write a check to the local Food Pantry in the class' name for the balance of the account after every check has cleared and out of pocket expenses have been reimbursed.

Hi Jeanne, re the bylaws, were those of the reunion committee or of the alumni assoc?

I made them up myself on the advice of our class attorney (who is also our alumni as well) Attached is a copy of what I created. The bank needed it so we could get the free checking. I was flying by the seat of pants and it sounded pretty professional. I had our class attorney review them. All I had to add was the last by-law and we were good to go!