Question: Transfer PTA - PTO where does start up money come from?
We are about to dismantle our PTA and become a PTO. I was wondering if someone can explain to me how we pay for the initial cost of TookKit, Insurance and Preferred PTO membership? As we are spending our PTA money, getting ready to write the PTA the letter (iin May) and taking our vote to dismantle in June, I am wondering at what point we can start taking PTO membership, to get money to pay for the start up cost of the new PTO? If we do that prior to May, wouldn't we be 2 of the same organizaitons, which states in our by laws we can not be. What should the timing of the membership application look like during this transistion? Esmee
Asked by esmee
Advice from PTO TodayRockne writes:
The key fact to understand is that you are not technically changing your PTA into a PTO. You are actually shutting down a PTA (one process) and starting a new PTO (another process). They're unconnected. Your new organization is the equivalent of starting a science club or a "parents of band mamebers" org at your school. Schools can (and often do) have multiple orgs like that in existence at the same time. So the recommendation from here is to start the PTO process as soon as you want. Get your EIN. Get your bank account set up. And start getting some funds in there. There is nothing at all wrong with doing that. It's certainly not "2 of the same organization". I'm not even really sure what that means.
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