Common Finance Questions

Common Finance Questions

Q: If we provide a stipend to a leader do they have to report it on their taxes?

No – we are scholarshiping them to provide program services. This is not compensation. They sign the stipend agreement asserting that they will spend the funds only on program-related expenses (meals, childcare, field guides, etc.) but we are not asking for receipts at this point. 

Q: If they receive funds from a friend or family member, or another organization to conduct a REBOOT course, do they have to report it on their taxes?

No – again, these funds are to provide program services. They can, if they choose to, or upon counsel from their accountant, keep records of how the funds were spent with receipts. They can also choose to open a separate bank account to manage the funds.

Q: Can REBOOT hold the funds?

No – REBOOT is not able to hold restricted funds for our leaders. This is not something we are able to administratively manage for the volume of leaders and size of staff that we have. If funds are processed through REBOOT, a 6% admin fee is charged, the rest is sent to the leader via check or store credit. 

Q: Can they open a bank account?

Yes, they can open a personal account to run their REBOOT operations. The account will not be affiliated with REBOOT.

Q: Can people get a tax donation for giving to REBOOT?

Yes, if someone wants a tax receipt, they can give directly on our website or send a check to us and indicate a course location/leader name on the memo line. We can then issue a check or store credit to the leader minus a 6% admin fee.

Q: Is the LeaderPass tax deductible?

No, the LeaderPass is not tax deductible because they receive goods and services.