llmccutch makes a great point about your PTO nonprofit status. If you're applying as a brand new organization, then you have time (not sure on exactly how many months, but it's more than a year) to get your nonprofit paperwork in. Provided that you apply and get approved within that time frame, then your nonprofit status is retroactive to the day you start operating the new group.
It is possible to keep the PTA legally alive while the funds in the PTA account are spent down. At the same time, you can start your PTO and your fundraisers can go into the PTO account and you can get the PTO legal paperwork going. That's often a nice way to avoid any money transfer complications. Once the PTA funds are down to near zero, you can more formally disband.
It's also possible (in most cases, check your PTA bylaws) when dissolving the PTA to donate remaining funds to a "similar organization" such as your PTO or an education foundation – provided the recipient organization is also tax exempt and meets IRS and any other federal regulations that applied to the original PTA.
We just recently switched from PTA to PTO at the end of this past school year. We made it where our PTA would be dissolved on the last day of our fiscal year which ends on June 30. We had virtually no problems. You just need to go by your PTA bylaws on how to dissolve. We are currently in the process of filling out the paperwork for nonprofit status. We recieved our Tax id # by calling and requesting one. You have 27 months, if I am not mistaken from the time you set up your organization the get your paperwork in. We are excited about the year and look forward to having a successful one!! If you have any other questions, Please feel free to email me! This email address is being protected from spambots. You need JavaScript enabled to view it.
We are researching switching from a PTA to a PTO. How long does it take to dissolve? Are we talking days? weeks? or months? Also, how long does it take to file for a tax exempt number to become a non-profit PTO? Since we are at the beginning of a school year, I'm afraid switching funds might get tricky. I would appreciate any other input. -Thanks
