Question: In the bylaws need to add disolving group.
In writing the bylaws, I want to add an article as to what happens to the funds in case we disolve the group
Asked by toni7tabbie8
Advice from PTO TodayCraig writes:
The IRS allows you to donate the money to another 501c3 charity -- and that includes most schools. Two common scenarios: 1. Your group dissolves and you donate the money to the school. 2. Your school closes. You donate the money to the parent groups (or schools) that most of the students will be attending next year. You might write a bylaw that says if the group dissolves, the money goes to the school. However, if the school also closes, it must be donated to another parent-teacher group or school in your district.
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