Can a PTC hold funds from a book fair without any tax consequences, since this is not a PTC fundraiser? Or, does the school need to house these funds? - seigerot
Whose fundraiser is it? As long as it's a group directly affiliated with the school and isn't for profit, you're probably OK. For example, you might create a fund in your budget for the student council or an after school club. The student council members (or club members) help raise the money, and the money goes into the PTC account, earmarked for the student council. The only thing about this kind of setup is that you probably shouldn't do it on an ad hoc basis -- you should only do it as a planned and continuing process that is understood and accepted by everyone involved.
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