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Unincorporated Associations Deposit accounts held in the name of an unincorporated association (such as a neighborhood association or a scout troop) engaged in an independent activity are insured as the association's deposits, separately from the personal deposits of the officers or members.
An unincorporated association is defined as an association of two or more persons formed for some religious, educational, charitable, social or other non-commercial purpose. Accounts of a sole proprietorship or a DBA are not insured under this account category.
An unincorporated association may be a for- profit or nonprofit group, such as a partnership, social club, charitable group, mutual aid society, homeowners association, labor union, political group, or religious society.
Almost every bank will require your nonprofit's incorporation paperwork, bylaws, tax ID number, and letter of exemption from the Internal Revenue Service (IRS). You will also need to identify a treasurer and select which officers will sign checks on behalf of the organization.
An Articles of Incorporation/Bylaws document or similar legal document is often required as proof of the organization's existence. The document should include the team name, the date the organization was formed, and the names of the team's officers which will sign for the bank account.