AMSA has created a process by which chapters can work with the National Office to open a bank account with Bank of America. This process may not be ideal for every chapter, but it does provide a way for chapters to set up an account, a means for the National Office to support those chapters, and oversight to reduce the challenges that can occur with chapter level accounts.
Please review the Chapter Level Banking document in full before initiating the process.
If your chapter does not open a bank account via the board approved AMSA process, your chapter is not permitted to use the AMSA Employee Identification Number (EIN). The chapter may obtain their own EIN and set up its own bank account. The chapter will be subject to all laws governing EIN use and comply with the submission of form 990’s and other tax documents as appropriate. Visit the IRS website for additional EIN information.
Starting May 1, 2015, for every new domestic, premedical, and international member that joins, their active chapter will receive $15 to help support local programming and attendance at AMSA events. For example, if your chapter recruits 100 new members during your Fall Frenzy recruitment drive, 100 members X $15 rebate per member = $1,500 to your chapter.
Visit the Chapter Rebate FAQ page to learn what it takes to be an active chapter and when/how the payments are distributed.
Fundraising creates a way for people to engage in your chapter and show their support. The result is also a way for you to measure the success of some of your events and programs. The result of fundraising will also reward those members that give of themselves to make the chapter work! Below you will find tips and suggestions for a successful year of fundraising.
You need more funds to do what you want to do this year, we can help! Join AMSA’s Executive Director Joshua Caulfield as he shares his expertise on fundraising, finances and nonprofit status – topics that are near and dear to every chapter’s heart.