Troop Bank Accounts
All troops should open a bank account with two unrelated signers on the account. Bank Signers should be background cleared volunteers. Info on opening your troop bank account can be found in Volunteer Essentials. Bank forms can be found on www.GSSEF.com Raising Money for Other OrganizationsFrom GSUSA "Volunteer Essentials"
Girl Scouts are not allowed, when identifying ourselves as Girl Scouts (such as wearing a uniform, a sash or vest, official pins, and so on), to solicit money on behalf of another organization. This includes participating in a walkathon or telethon while in uniform. You and your group can, however, support another organization through take-action projects or by making a donation from your group’s account. And Girl Scouts as individuals are able to participate in whatever events they choose, so long as they’re not wearing anything or identifying them as “Girl Scouts.” Financial AssistanceGSSEF provides Financial Assistance to families who qualify.
Applications submitted to GSSEF are completely confidential. More information can be found on the GSSEF website in the Volunteer Vault under Financial Assistance. End Of The Year Troop Finance Reports
Filed annually by each troop. Reports are typically due by July 31st of each year and will be submitted through your MYGS Account. |
Tax Exempt UseA commonly asked question is if troops can use GSSEF's Tax Exempt Status:
In short, no, the sales tax exemption does not extend to Troops, and the number used to establish a bank account is different. Read on for a full explanation... If you have benefited from use of the Florida Sales Tax Exemption up until now, that is fine. There are no penalty points, but you need to stop using this exemption in the future. Most vendors probably don't understand the difference and assume that if Girl Scouts of Southeast Florida is exempt from sales tax then Girl Scout Troops are exempt also, which is untrue (more below). Our Volunteer Policies and Procedures, Section 4.5 SALES TAX EXEMPTION, states, "In accordance with Florida State Statutes, the Florida Department of Revenue and the Florida Administrative Code, GSSEF's exemption from Sales and Use Tax does not extend to the Troop, Service Unit or Area components of GSSEF." In order for us to maintain our state-issued sales tax exemption, Troops are not to use our exemption for purchases, trips, etc. Our Federal Tax ID Number is required for establishing a bank account. We have included our ID number in the prepared letter Troops can use to establish a bank account; these letters can be found in the Volunteer Vault. While our Federal Tax ID number is used for opening bank accounts, the State of Florida issues our Sales Tax Exemption. Our Federal exemption is issued under Internal Revenue Code Section 501(c)(3) and provides exemption from federal income tax and allows us to receive tax-deductible charitable contributions. This is simply our Federal tax reporting classification. It has nothing to do with the Sales Tax Exemption. Based on our Federal tax-exempt status, the State of Florida has issued, upon satisfactory application by our organization, a Sales Tax Exemption. Sales tax is collected by the State, and thus there is a separate document and ID number to exempt certain purchases. In general, per the State of Florida, the sales tax exemption is available only for direct purchases by the holder of a valid Consumer's Certificate of Exemption, so in this case, it would apply to direct purchases made by GSSEF, using funds from our operating account. The State statute limits how the sales tax exemption can be used. Troop purchases are not treated as an extension of GSSEF. The Troop funds are generated by the girls, through product sales, money-earning activities and Troop dues. Because the funds used are from the Troop treasury, not the Certificate Holder's (GSSEF's) account, the exemption cannot be used. If a vendor asks you for the tax exempt number you are to turn them down in order to be in compliance with our Policies and Procedures and State Statutes. We do not want to jeopardize our status with the State. Despite the State's limitations on its use, GSSEF still benefits greatly from this sales tax exemption. As an organization we save thousands of dollars each year on capital expenditures, facility rentals, contracts and leases due to this exemption; money which can be used to provide additional opportunities and programs for girls. Our complete Volunteer Policies and Procedures can be found here: Volunteer Policies and Procedures. |