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
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”.
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.
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.
Enter Organization Details - Provide essential information about your nonprofit, including:
Organization name
Website
Mission statement
Employer Identification Number (EIN) or Tax Identification Number (TIN)
Enter Representative Information - Input details of the authorized representative managing the account.
Set Up a Payout Account - Choose a bank account where your earnings will be deposited.
Add Public Business Details - This includes information visible on customer payment statements, invoices, and receipts.
Climate Commitment Option - On the “Show customers your climate commitment” page, you can click “No thanks” if you do not wish to participate.
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.