OK, so I usually try not to write more than one post per day, but I had to make an exception today.
I just got an email from our CEO’s (Bill’s) mom. She is about to attend her 40-year high school reunion, and she found an article on her school’s website, which provides “helpful hints” for collecting money for reunions.
Here are the highlights:
- Create a banking account for your class reunion with the class name on it so no one will have to use their own account to handle the finances. While this takes a bit of legwork, the classes who have done it praise how well it worked.
- Opening a bank account allows all classmates participating to write checks to the class reunion, instead of an individual. It also takes the burden off of one person being responsible for the finances.
- Register the class with its own “trade name” at the Office of the County Clerk. The cost is $54. Once you do that, you will need to call the IRS to get an Employer Identification Number (EIN) which identifies this business account (even though there are no employees).
- Once this is complete, you may set up a checking account in the “business” name with your chosen bank. You can use the reunion committee chairperson’s address and contact information.
I’m not even surprised. This probably is the best way to collect money for a class reunion. Or at least it was. The entire “helpful hints” section on the page could be reduced to this:
- Register with WePay and create an account for your class reunion.
- Use WePay to sell tickets to the event or collect donations
- Watch as WePay handles the rest.
Organizing a class reunion can be tough. No reason to make it harder than it has to be. Spend less time trying to figure out how to collect money, and more time trying to figure out how to show people how much cooler you have gotten since high school.
Start using WePay for your class reunion. It’s free to sign-up!