You can only use the school's number if your organization is part of the school itself and not a separate organization. If you are a separate organization, you need your own number.
When you are out there trying to raise money, there are some small companies who will just give it to you regardless of your tax exempt status. But there are many more, and especially big companies, who will not donate anything to you unless you can show them that you are tax-exempt. A lot of companies have you apply for fundraising related donations online now, and if you can't give them the documentation of your 501(3) (c) status, you don't stand a chance of getting anything from them.
Yes, we have always had insurance for our PTO. The rates you can get through PTOToday are pretty competitive.
I am currently a member of our PTO and we are in discussions of applying for a 501(c)3 status. However, some of the members are not thrilled about paying out the money needed, which I am not either, however we need to have a tax exempt status. Can we use the school's FEIN number or do we have to get our own and move forward with a 501(c)3?
We have big plans for renovating our playground, with School Board approval of course, and we know we will need lots of fundraisers and donations. If we are able to use the school's FEIN number, how does that affect them applying for grants and such?
Also, has anyone thought about or have bought insurance for the PTO?
