Question: Leftover Funds From PTA
We have quite a bit of money in our PTA at the end of the year mainly because we fundraise at the end. Close to $12,000.00 If we disband and go to PTO can we donate it to the school and then have them donate it back to the PTO once established.
Asked by Anonymous
Advice from PTO TodayCraig writes:
The IRS allows tax-exempt 501c3 organizations to donate money to other 501c3s. So yes, as long as your school isn't a for-profit school, you can donate the money to the school. And yes, if the PTO applies for 501c3 status, the school can donate money to your group. Also, note that 501c3 status, once granted, is retroactive to your PTO's startup date.
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