If you are a 501(c)3 organization (a recognized non-profit corporation through the IRS), the answer is No.
If you are not, then the answer is probably... If it were me, I'd tell them that you are taking steps to incorporate and get your 501(c)3 status... and start first thing in the morning.
If you are not sure of which you are (or are not as the case may be), tell the principal and the group that you are checking into the legalities and will update them in a week.
Please help me I have a meeting in less than an hour and I am a first time pto pres...everyone want to know if the princapal can make us run our money through his general fund.???????
