Policies webinar notes and recording
Published on May 26, 2021 by Alanna Irving
Admin

Thank you to everyone who made time to come to the webinar about the newly clarified policies for cash assistance, outside accounts, and outside entities.

For anyone who couldn't make it, the recording is here, and Q&A notes are here.

Some key points:
  • These policies are our best attempt at enabling initiatives to work how they want to in their communities as much as possible. We are pushing our lawyer, accountant, and auditor to think outside the box with us, and they are. But there are some limits we have to follow as a 501(c)(3) nonprofit that are out of our control because the IRS makes the rules.
  • If you are doing cash assistance, please review the policy and also submit this form so we have the info about your overall program.
  • If you are receiving donations via Venmo or Cashapp, you need to send the money to OCF (bank info here) so we can add it to your balance.
  • The thresholds for increasing need for documentation as cash assistance payment amounts go up ($250, $600, $5000) are per volunteer per year.
  • If the policies are followed and the required documentation is provided, reimbursements from OCF to initiative volunteers are not considered taxable income, and that individual's info is not reported to the IRS by OCF at all.
  • Next up we will be working on policies and processes for initiatives who want to make grants in their communities—more on that coming soon.
If you want more info about the above, check out the recording as we covered it all in detail at the webinar.

Again, we are so inspired by the work you are doing with your communities. We strive to empower initiatives as much as possible, because we respect your expertise as the ones doing the real work on the ground. We feel privileged to play a small role in supporting what you do.

If you have questions about these policies, or anything else, please reach out to [email protected].