The National, county, state PTA can not just withdrawl money from your group's acct.(as far as I know) because its not theirs & they are not on your group's acct. I would transfer the money into a new pto acct. as soon as your own group decided to disband your pta & switch to a pto. Then proceed to let your pta people know that your group is disbanding. (I've seen a lot on this site, maybe another topic on this is here somewhere that might give you more insight) Good luck. Either way pta/pto, we are all in it for the kids.
I have another question. From what I understand, after the association votes to disband, the district PTA files a Change of Status-Disband notice with the state. I am assuming it takes a few days for the state (or district representative) to even try to take our money. Not that they will, but let's just assume they will. Let's also assume they can do it the day after the vote. Can we, immediately after the vote, spend the rest of our PTA money? That is, can we just deposit it into another account right after the vote? Or is that too risky, or do I have my info wrong?
Yes, you can transfer your money over to a pto acct. Your group raised it therefore it belongs to your group....you would just be switching your groups name & getting a new EIN & 501c3. Good Luck.
This may be a really stupid question (especially given the fact that we are considering disbanding), but can we really transfer PTA money into a new PTO account? For some reason, I am wanting to follow PTA rules (or I feel I should) about how we spend our money, and I get the feeling that this wouldn't be "allowed." (Why am I even worried?!)
... and those initial fees are start-up fees, they go down to zero or near-zero in year 2 and beyond, making the $$ contrast stark over just a couple of years.
IN OHIO WE HAD TO PAY $125.00 TO REGISTER WITH THE STATE.THEN I BELIEVE IT IS ANOTHER $500.00 TO SEND IN YOUR 501 C 3 TO THE FEDS. WE ARE STILL WAITING FOR CONF. ON OUR STATUS. IF IT GOES THROUGH I CAN SEND A COPY OF OUR FORM FOR YOU TO DUPLICATE BECAUSE THE FORM IS A PAIN TO FILL OUT. SO WE ARE UP TO $650.00. MY FIRST YEAR I PAID THE STATE PTA OVER $800.00. NOW WE KEEP ALL THE MONEY IN OUR SCHOOL FOR OUR CHILDREN.
