Absolutely do not use a personal SSN for this. It's not a personal bank account.
Is there a different bank in town that you can try?
I agree with Jim on filing for 501c3. There are some grants that you aren't even eligible for if you're not 501c3. You should at least read through the requirements -- I think you have 27 months from incorporation to file Form 1023 -- and make sure you keep financial records sufficient for filing next year, if the group decides to file later.
I have heard others discus how people's personal SSN had to be used. Since you have the EIN maybe that won't be the case, but I think the overall belief is that you would want to stay away from this if possible.
You should just make sure beforehand.
Also, I would 100% recommend filing for the 501(C)3 status. Yes there will be the one time cost, but it is most definitely worth it. If you need to run some form of extra fundraiser to do so then that is what I would recommend.
You should be able to open a regular business account but you will not be consider "not for profit" so if there are any fees etcetera that might be waived due to that status--you'd have to pay them. That's the only thing I can think of.
d
For-profit businesses can open bank accounts, so why exactly does the bank need that proof?
I think you should look more closely at the idea of incorporating; I don't think it's very expensive, and it allows you to get insurance to cover the group -- rather than having any lawsuits directed at you and your personal assets.
I am the treasurer of a new PTO in NJ. I have obtained an EIN number, but when I went to open a bank account for our group, I was told that we have to provide proof of non-profit status. We decided at this time not to apply for 501c3 because of the cost nor are we incorporating for the same reasons. If any one can give any advice or assistance I would be extremely grateful. :confused:
