Staci - You definitely made the right move. You should get the new 501(c)(3). We did it, it's not that hard and I don't think it was $500. We joined the National PTO Network from this site after we made the switch and it was the best money we spent all year. We followed the guide from the NPN and the nonprofit thing was easy. Also got insurance through the NPN plan. I'll have to check, but I think we were able to keep our taxpayer # and just put a name change through (but come to think of it, I may be wrong on that one). Your CPA was right about losing the status when you leave the PTA but getting the status for our PTO was easy and the IRS (and the NPN thing) was very helpful.
Our PTA just voted to switch to PTO. I'm going to be the next year's Treasurer. I spoke with a local CPA who told me that b/c we no longer are under the Oklahoma PTA umbrella, that we technically are not tax-exempt now - that we will need to obtain a determination letter from the IRS which will cost us around $500. Is this true? Also, do we need to change our taxpayer ID number, now that our organization title has switched. Are there other things that are out that we need to know about as far as making the change correctly?
Any help is appreciated. I've already the article on this website (PTA vs PTO) but I don't think it answered either of these questions.. I'm just wondering if there are things we need to do, but haven't thought of yet....
Thanks in advance!!
