All about Invoicing Sponsors
Where does the money go when a sponsor pays an invoice?
The money will go to the Startup Grind bank account and we will pay you as soon as it is processed via your Payoneer account.
My sponsors are asking if we are a US non-profit or 501c3?
Keep in mind, most businesses can expense the money they pay us for a sponsorship whether it is done as a marketing expense or a charitable donation. So, don’t let that excuse discourage you - keep after them!
Can I charge a sponsor in my own currency?
Yes! You can charge sponsors in the same currency that you sell your tickets in.
What if someone wants to pay via bank transfer or check?
We don't allow the bank transfers or checks, they need to use a credit card. If you have any questions, please, contact us at ford@startupgrind.com.
Why wouldn't I just process invoices myself?
Because it's an accounting headache and can look unprofessional as you're asking for a personal check in your name instead of Startup Grind. This is an easy way to keep everything together.
What happens when a sponsor pays an invoice online?
The money will be transferred to your Payoneer account about 2 - 5 working days after the sponsor pays Startup Grind HQ.
My (non-US) sponsors want to know if there is an entity in my local country?
No, we don't register official Startup Grind entities around the world.
The proper/official way to do it is to tell the sponsor that we are registered in America, and that all payments and money and laws and tax and everything is managed by the American company.You create an invoice on our system, and then email the invoice to them. The sponsor simply clicks a link on the invoice and makes a direct payment into the account on said invoice. Startup Grind HQ then handles the processing + tax + any other legal issues.
If they will not pay a US company you can also accept the payments through your own company and then add the income to your event invoice so the 20% goes back to HQ (you always need to ensure you pay over 20% of all money that is received).
Can I delete an invoice and start over?
You cannot currently delete an invoice but you can create a new one. Remember, it's your responsibility to send the invoice the the sponsor.
My (US) sponsor asked for a W9 form so they can 1099 Startup Grind - what do I do?
No problem - we’ll send you our W9 to send to them. Just email the request to: ford@startupgrind.com
What if I make a mistake. Can I edit the invoice?
You cannot currently edit or delete any invoices that have been already submitted. Please send an email to ford@startupgrind.com and one of the Community Team will be able to assist you.