Question: PTO Funds when school closes
The rumor is that our school could be closing next year. What happens to PTO money that was raised by our students fundraisers?
Asked by lgasp
Advice from PTO TodayCraig writes:
The IRS allows you to donate that money to any other 501c3 organization. That might be the PTO at another school in town -- probably the one that will be attended by most of the students currently at your school. If the PTO doesn't have 501c3 status, that is, if it isn't registered with the IRS as a tax-exempt organization under section 501c3 of the federal tax code, you can donate the money directly to the school.
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