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Hi,
We have a 501(c)(6) non profit trade organization.
This organization hosts an annual conference.
Recently, a prominent member of the association passed away and there is a push to create a donation fund in his name. The fund will be funded by the sale of raffle tickets at the conference, as well as donations from individuals and organizations.
The fund will be used to award members of the association free access to the conference.
For example, 1 or 2 people will be selected (based on criteria set by our scholarship team) for free hotel and conference entrance fee, paid for out of this new fund.
The rest of our funding is in a general account.
How should we structure this new "donation" type fund? Does it go in a separate account?
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