Hello collaborator. Let’s do business.
As a 501(c)(3) nonprofit foundation, we have some obligations when doing business with vendors/contractors:
- We must have a basic contract with the contractor.
- We must obtain W-9 information from the contractor.
- We must submit a 1099-NEC to the IRS for the contractor if payments exceed $600 for the year.
We have an “Independent Contractor Agreement Form” that provides a boilerplate contractor agreement. If that language is agreeable to you, fill in the blanks and submit the form. That covers requirement 1. If you need custom contract language, let us know and we’ll work up something together.
Once you submit that form or otherwise get a contract to us, we’ll add you as a contractor to our accounting system. Our system will send you an email asking for your W-9 information. Follow the process in that email to cover requirement 2.
In January of the year after paying you, we will use our accounting software to total up how much we paid you in the previous year and issue you a 1099 to satisfy requirement 3.
Staff: Follow our internal onboard contractor checklist to process contracts and add contractors to our systems.
