The 501c3 tax-exempt designation is retroactive to your start date so theoretically businesses and people could deduct donations to your group. However, that might be a bit of a leap of faith, especially for businesses, in case for some reason you don't follow through. You're probably better off having the money go directly to the school, but in that case you can't deposit the money in the PTO account and then use it for the school. It has to go directly into the school account. I asked Shelley Gulbrandson, sales manager for Gift Bricks, your question about the tiles. She says that donors may claim 100% of their donation (to a 501c3) as a deduction as long as they don't receive anything of [tangible] value in return, such as a replica tile.
- Craig
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Thanks, Craig!
- denmother
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