I am the President of a newly formed PTO for a small private school. We have not filed for 501c3 and do not intend to because of the VERY small size of our school. However, we want to open a checking account for the few funds that we have and in order to receive checks. We have applied for and received our EIN from the IRS, but the bank is requesting our State filing info as well. I have no idea what to file under. LLC? Is incorporation necessary at this level? - katequinn
No, it's not necessary. You can be an "unincorporated association" and just give your bank the bylaws as documentation; they should take those.
But incorporating isn't a bad idea, and isn't just reserved for larger groups. Check with your state division of corporations and find out how much they charge to file as a corporation--it's usually less than $100, and then sometimes there's an annual filing fee of maybe $25 or so--depends on the state. It's good to have from a liability protection standpoint.
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