Message Boards

×

Notice

The forum is in read only mode.
×
Looking for advice? Join us on Facebook

Get advice, ideas, and support from other parent group leaders just like you—join our closed Facebook group for PTO and PTA Leaders & Volunteers .

How does parent money donations effect books

17 years 2 months ago #130420 by Rockne
Not sure why you'd avoid donations. Are you a 501(c)(3)? If yes, take the donations, provide a receipt, and say thanks. Loudly.

Tim

PTO Today Founder
17 years 2 months ago #130411 by LUVMYKIDS
I'm no "expert" but we treat a donation from a parent as we would treat any other donation. We just describe it as a donation from XX Parent in the line item in our books. If they want a receipt, we can make up a little note that thanks them for their donation and specifies the amount they gave such as:

Dear Mr. and Mrs. John Doe,

Thank you for your recent donation to our group of $100. The money will be put into the general fund and used to support our many programs.

Sincerely.
Sue Smith
President, XYZ Elementary PTO

The letter gives them documentation for tax purposes.

You could always check with a tax expert or for that matter just call the IRS hotline and see what they say.

Hey Rocky, watch me pull a rabbit out of my hat.
17 years 2 months ago #130393 by mrshlmorris
I have been apart of the meetings for sometime even though I am new to the board and I know in the past our parents have wanted to do the same and our board has had them donate the item they want us to have. If it is not enough then we have had them get together with other parents who have wanted to give money. It is a wonderful gesture but we stay away from it too.

Heather L Morris

pals;130389 wrote: Okay this is for the experts out there as I need verification. A question came up tonight about taking cash donations from families, we don't do this at all. This parent asked why, I have always strayed from it because of all of the regulations and book keeping assoicated with it.

If your group accepts these donations how do you handle it, we are a 501c(3) and I am just looking to see how it effects everything from regular book keeping to the 990 filing.


Heather L Morris<br />
<br>VP PTO Washington Elementary
17 years 2 months ago #130389 by pals
Okay this is for the experts out there as I need verification. A question came up tonight about taking cash donations from families, we don't do this at all. This parent asked why, I have always strayed from it because of all of the regulations and book keeping assoicated with it.

If your group accepts these donations how do you handle it, we are a 501c(3) and I am just looking to see how it effects everything from regular book keeping to the 990 filing.

&quot;When you stop learning you stop growing.&quot;
Time to create page: 0.744 seconds
Powered by Kunena Forum
^ Top