Assuming your school is nonprofit, then I don't think so. However, this is a little beyond the scope of what we usual look at. I'd suggest talking to the IRS about it or a CPA experienced with tax issues relating to private schools. My guess is that if these collections are gifts to the teachers, to be used as they wish, then there would be tax implications for the teachers. If they are specifically to be used for classroom supplies or another specific purpose benefiting the (nonprofit) school, then there wouldn't be tax implications. But you should definitely check to be sure.
- Craig
Links in this post: