Question: PTA Leaving to PTO
As a Board we have voted to leave PTA and appy for our a new EIN # and applied for PTO. We are in the middle of getting our 501 (c)(3). But our bank account has never switch to PTA using their EIN # because it took to long to get. Are they still entitled to our money once we leave them?
Asked by Anonymous
Advice from PTO TodayCraig writes:
I don't know the answer to the question of "who's money is it?" but it sounds like a technicality that could get messy if you tried to go in that direction. If you think there's going to be difficulty over the money, can you spend it down? I don't mean buying things you don't need, but maybe you can look ahead and purchase extra supplies, book the buses for future field trips, etc. Another option is to donate the money to the school.
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