Do I need a tax id number for a memorial run/walk?
If you do not want to use your own ID, you can request an ID for the scholarship fund by completing a W-9 with the IRS: https://sa1.www4.irs.gov/modiein/individ… You may also want to consider having a trust document created by an attorney since a scholarship fund is essentially a trust. Just keep in mind, trusts have very specific tax rules, but if the trust income is paid out every year, then there may be no tax liability to be paid by the trust.
If the account is an interest bearing account, if you provide them with your social security number (which is your tax ID number) you would be required to report this income on your tax return. On the other side of the coin, if the account is non-interest bearing, providing them with your social security number (tax ID number), this should not be a major concern to you. Also, you may want to ask your bank what the smallest amount is that can be deposited that will be reported to the government under Federal Banking Laws which was designed to monitor the flow of illegal drug dealings, terrorist funding, etc.
