Financial Policies
NKF volunteers, including local chapters, may not use the national NKF's 501(c)3 tax exempt number, or that of an NKF Affiliate, for any purpose. The IRS dictates that only authorized officers and key personnel of the NKF may be in possession of and use this number.
Local chapters are recognized as an affiliate of the NKF, and not as a separate tax entity. As volunteer groups of NKF they are not to maintain separate bank accounts. They operate with and through the NKF. Local Chapters may charge membership dues, program fees and fundraise for patient assistance, however, the funds will need to be maintained by the NKF Division or Affiliate in their area. NKF is required by the Internal Revenue Service (IRS) to collect and report all fundraising dollars. A Local Chapter may not maintain an independent bank account or Federal Tax ID number under any circumstances.
The Local Chapter’s funds will be accounted for as a line item within the Division or Affiliate budget, and statements will be provided upon request to Chapter Chairs or Chapter Treasurers. For those Local Chapters who cannot be geographically matched with an NKF Division or Affiliate, there may be instances where funds are maintained directly by the National HQ.
For NKF Affiliates only: Local Chapters who are successfully partnering with an Affiliate can continue to use the Affiliate’s tax ID, per any existing agreement between the groups. However, all fiscal activities need to be recorded in the Affiliate’s accounting records. If the Chapter has a bank account separate from the Affiliate, the Affiliate must be listed as the owner and signatory on the account, the account must be listed at the Affiliate’s address and all bank statements are to be reviewed by the Affiliate’s accounting staff. A reversion of funds provision must cover the account directing funds to the Affiliate in the case of dissolution of the Local Chapter.
Download Chapter Financial Policies
For more information, contact your local NKF Division office or NKF Professional Membership Director.