Help - can anyone out there give me reasons as to why we should file a 1023 for our new PTO (and PTSO for middle school. A suggestion has come up to just form a PTO and use the school's ID number and not mess with the paperwork and losing that money. I need some answers by May 15th!

I think we should get our own ID number, file the 1023 so if something in the future pops up we are covered. Currently we are a PTA that covers an elementary and middle school. We voted to dissolve to a PTO for elementary and middle school will have its own PTSO since it is moving in to another building. Suggestions were made to keep the PTA up and running for another year - membership would only be the board members while we setup the PTO. The middle school PTSO has already approved bylaws, have all but one officers and have met several times.

The concern is we have funds leftover from the PTA that we do not want to forfeit to the State PTA. We are trying to deplete the money. I know funds can be transferred from the PTA to a 501(c)3 organization that was one reason I wanted to apply. PLEASE GIVE ME DISADVANTAGES AND ADVANTAGES OF FILING 1023. Thanks