Once you've determined that the school will stay open for the rest of the year, I think it's OK to continue fundraising activities. You should probably be conservative, however, and not attempt to raise more than you will need for the year and possibly a little more to get you started for next year. If the school does close, you can donate any leftover money to another school. The usual disclaimer -- I'm not a lawyer so this isn't legal advice. Just my own assessment based on your question. Good luck and sorry to hear your school might close -- that's a difficult situation.
- Craig
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