Question: Transferring Monies in PTA Account to PTO Account

Can we take the monies in our current PTA account and "donate" it to our PTO account? It is my understanding that the PTA account must be used to "benefit the kids" so would our PTO account count as a "benefit for the kids"?

Asked by thuegel



Advice from PTO Today

Craig writes:
The IRS allows you to donate money to another 501c3 tax-exempt charity. 501c3 status is retroactive to your start date, as long as you apply within 27 months. Note that if you plan to incorporate, the IRS considers your incorporation date to be your start date.

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