FAQs about money, insurance, and non-profit status

Do I need a bank account? How should I handle funds?

Short answer: No. You don't need a bank account. See Accepting money from sponsors

Long answer: Some locations have set up separate personal bank accounts to handle event funds. A few have created business accounts where World IA Day in their location is a recognized business entity.

World IA Day can act as a pass-through entity to accept funds on your local event's behalf. You will need to submit receipts to be reimbursed.

Will my location receive seed money to start my event?

Short answer: No. Unfortunately, World IA Day is not in a financial position to provide any seed funds to help start your event.

Each local World IA Day event is fully planned and designed independently by volunteers in that community. It is up to the volunteer committee to raise funds, find sponsorship to support the event and build support from the local community organizations, businesses, and individuals.

What if I have leftover funds? What should I do? Can I expect to have access to this for next year's WIAD event?

The short answer: Yes. Leftover funds can be marked for the following year's local World IA Day event. If there is no designated local organizer for the next year, leftover funds will be turned over the WIAD emergency funds.

Contact the WIAD treasurer / development officer [email protected] if you have a special situation or have any questions.

Could I get an invoice for my sponsor?

Short Answer: Yes, of course. Contact the WIAD treasurer / development officer [email protected]

Long Answer: The WIAD Treasurer can generate a QuickBooks invoice that includes the WIAD logo, EIN number, and specific payment instructions unique for that sponsor. We can send this directly to your point of contact or to you to forward.

Is World IA Day a non-profit? Would I be able to do a tax write-off for monetary donations?

World IA Day is a 501c(3) tax-exempt charitable US organization, based in Florida. Companies and individuals may have a tax write-off for monetary donations.

Contact [email protected] for the IRS verification letter.

Do we have W-9?

Yes, you may find our most recent W-9 on Google Drive.

Do we have event insurance?

If you are required to carry venue insurance, World IA Day will not be able to cover this for you. Include this as part of your event budget. Each location will have to obtain their own event insurance as each country, state, city, and/or venue have their varying requirements.

Here are some resources where you may be able to obtain event insurance:

• https://www.specialeventinsurance.com/

• https://www.eventinsurancenow.com/

• https://business.thehartford.com/home.html

• https://www.theeventhelper.com

Note that these are requirements that some spaces in the US and Canada may require. Check with your venue point of contact if you need this.

Have more questions?

Reach out to [email protected] or send a chat in Discord.