Creating a Stripe account is an essential step for onboarding. We partner with Stripe as our payment processor to ensure secure, reliable, and efficient transactions. This article provides a step-by-step guide to help you get started with fundraising using AwardSpring.
Creating a Nonprofit Account with Stripe
Wondering how exactly to use Stripe for nonprofits? Here’s a step-by-step guide on how to set up Stripe as a payment portal for your organization.
Heads up: When creating a nonprofit account, there must be one primary owner. All the steps outlined below must be performed by a person with significant management responsibility for the organization and who will be the primary manager of fundraising activities within AwardSpring.
Configuration
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Navigate to the Settings tab in the main navigation menu. Select the Payments tab, then Account Onboarding. Click on “Create Stripe Account”, then select “Add Information”.
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Create the Stripe Account - You will be redirected to a Stripe-hosted page. The future account owner (the person responsible for managing fundraising within your organization) must create an individual Stripe account by setting up an email and password.
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Confirm the Owner’s Account - After confirming the owner’s email and password, you will be redirected back to AwardSpring to complete your organization’s information.
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Enter Organization Details - Provide essential information about your nonprofit, including:
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Organization name
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Website
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Mission statement
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Employer Identification Number (EIN) or Tax Identification Number (TIN)
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Enter Representative Information - Input details of the authorized representative managing the account.
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Set Up a Payout Account - Choose a bank account where your earnings will be deposited.
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Add Public Business Details - This includes information visible on customer payment statements, invoices, and receipts.
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Climate Commitment Option - On the “Show customers your climate commitment” page, you can click “No thanks” if you do not wish to participate.
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Review and Submit - Review all the provided information; if everything looks good, click “Agree and Submit”. If changes are needed, update the details before submitting.
Verification and Activation
Stripe will review the submitted information, which may take a few minutes to a few hours. Once you are verified, your account status will change to “Integrated”.
You will now have access to new tabs: Account Management, Payouts, and Notifications.
Congratulations! Your Stripe account is now set up and ready to process payments. To learn how to configure payment pages, click here.