Question: Fund raiser donatios when PTO not tax exempt

I am the new treasurer for our PTO. I found that our PTO has never filed for tax exempt status, I am in the process of completing form 1023. We had our annual fund raiser and we had many donations from our local business. Are the donations only deductible to our donors if our PTO is tax exempt? or should I send out another type of fom?

Asked by lexjj11



Community Advice

mum24kids writes:
Yes, they are only deductible if you are tax exempt. Assuming you do get the tax exemption, it will be retroactive, but it could be quite some time before you find out. Someone else had a question on here about the processing time for 1023s with the IRS, and I think they have been waiting for about 18 months. There is a big backlog right now.

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