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How do I setup a financial account for a unincorporated org? (hexbear.net)

submitted 2 months ago by ZWQbpkzl@hexbear.net to c/askchapo@hexbear.net

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I've know some local orgs that could absolutely make use of a shared bank account for accepting and dispersing donations for mutual aid. The problem is these orgs are far too small to incorporate into a legal entity, have a stable mailing address, or even an official phone number. Only thing that's stable is an email address.

Most common solution I've seen is one person just has all the money. They setup a PayPal account and are responsible for receiving and dispersing all funds. This obviously isn't very secure. First there is the obvious risk of embezzlement. But assuming you've picked a trustworthy comrade, they're now more exposed and there's severe consequences if something happens to them. Like if this person is running a bail fund they might get hit with bs RICO charges and you lose all your donations.

I've tried to setup a PayPal using a google voice number but PayPal seems to recognize and block that. Crypto is supposed to address this issue but we still need dollars in and dollars out so that might be more complicated than worthwhile.

Any ideas or experience with this issue?

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[–] JoeByeThen@hexbear.net 4 points 2 months ago

Oh, yeah that last mile is always going to be a pain that can only really be eased with mass adoption, so you have to do it less. Also, it's like Linux where there still needs to be a lot of simplification and UI done for the common person, imo.

Also, again I'm not a crypto guy so it's entirely possible that monero isnt the solution we're looking for; It's just what I've gathered from casual searching over the years while thinking about this problem.

I feel like there are tax implications for getting cash in exchange for crypto.

Yeah, I'm not sure, because you're supposed to be paying taxes on any other cash you get as well. Like PayPal sending out 1099s if you do enough transactions. I think it's just a matter of declaring it? Like it's not illegal to use crypto, yet, so if more opportunities can be made for people being paid in monero for legitimate reasons that would help run cover for the subversive ones. And again, ideally the vulnerable org is never doing any cashing out and the people who are cashing out are doing so mixed in with other everyday transactions.

What we really need are for leftists who are familiar with crypto to sit down and hash this shit out. Figure out secure best practices for getting and converting monero, how to make transactions, etc. I know the one place I used to see it regularly discussed was for folks DIYing HRT, which given how things are going is probably going to be more necessary moving forward. Unfortunately, crypto is such a toxic concept nowadays.

I wonder if monero is exchanged at those crypto ATMs.

From cursory searches it looks like you gotta convert it before ATM use, but once you convert there's a lot that can be done since BTC and other coins are so widespread now. There's a couple places I've seen where you can buy gift cards for big places like Amazon and Walmart, which for like mutual aid use is pretty useful. Just skip the cash altogether.

Idk, again (I say for the millionth time, 😅) not a crypto guy so I don't have all the answers. But it's definitely something that needs to be thought about in leftist spaces.