Obtaining a credit card for a nonprofit organization is similar to the process for any other business. Providing you have the correct documentation at the time of application, the process is easy. The best method for obtaining a credit card for a nonprofit is to go to the financial institution where the organization banks. The staff will likely know the organization's needs and be able to recommend a credit card with the options most useful to the organization.
Things You'll Need
- Nonprofit's EIN (employer identification number)
- IRS 501(c) letter for the organization
- Nonprofit's address and phone number
- List of officers
Apply for a Credit Card
Decide the financial institution from which you want to obtain a credit card. Different banks offer different promotions and incentives to market their credit cards. Sometimes the best reward for a nonprofit organization is cash rewards.
Call or go to the financial institution to apply for the credit card. Information that will be requested during the application process includes the full name of the nonprofit organization, the organization's EIN issued by the IRS, 501(c) letter issued by the Internal Revenue Service stating the nonprofit organization's status is valid, and names and titles of the officers. Some banks will request the social security numbers of the officers as well as financial statements from the nonprofit organization.
Determine how many individuals will be receiving credit cards. The bank officer may offer a limited amount of cards based on the financial statements of the nonprofit organization and how long the organization has been in existence.