A farewell note in the local paper might be a nice touch, although probably not required by anyone.
Aside spending the remaining funds, I think it's primarily a case of notifying those with whom you are officially registered or have a business relationship and asking them if there are any additional requirements, how long you need to keep records, etc.
1) IRS - if you are a 501(c)(3) or even if you just have an Employee Identification Number.
2) State - if you are incorporated or if you have been paying sales tax, contact the appropriate state agencies.
3)Bank - close out the account once all checks have cleared
4) Vendors/Contributors - if you have people you routinely work with, it would be nice to send them a letter advising of the circumstance.
(those who take out ads in the directory every year, companies with whom you done repeated fundraisers, organizations with whom you partner, etc.)
5) Insurance - if you have any policies, contact the company
That's all I can think of. What else would some of you suggest?
Our school is closing the summer and we need to close out our PTO. Can someone provide input regarding legalities of closing our PTO? Is a public notice necessary? We already have determined where remaining funds will be distributed. Any input would be appreciated.
