Thank you for the advice. I am the one who actually started the PTO-501(3)c, and yes anything with my name on it I want to be legal.
As far as filing, I do know that we always need to file to be compliant even if we have made little or no money.
The reason why I suggested notifying the IRS is because (I believe) the president's name is required on the 501(3)c paperwork. If my name was on anything pertaining to the IRS and I am leaving the organization, I would want to make absolutely certain I have it removed on my way out.
I wouldn't go notifying the IRS ... when some new parents come along, you don't want them to have to fill out the application all over again. Spend the money, by all means. If the organization doesn't have any income, seems to me (but I haven't read the rules in detail) that you wouldn't have to file a tax return.
It's possible that others may step up to lead the PTO if they see that it is well and truly in danger of disbanding due to lack of parental involvement. So, I would say to freeze everything as is for a certain period of time....say until September. If, by then, with plenty of notices to the parent group, there aren't any replacement officers, pay applicable taxes, pay any final invoices, and spend down the funds according to your by-laws (or transfer the funds to the school for use at their discretion) and close out the account. You'll also need to notify (I'm guessing) the IRS with your final tax filing that your 501(3)c is no longer in existence.
I have been a board member for 4 yrs, three years ago I actually took on the challenge of filing paperwork to become a 501(3)c-so we have been a PTO since then. This year I am president. I only stayed on because I saw such potential but unfortunately no body wants to step up to the leadership roles and I am done. So, where do I find out what happens to the PTO, the funds, etc? Can everything be frozen until some people step up?
We are a school of 180 kids, and we have raised over $30,000 dollars over the last several years- but as you know the same people do it and they are just getting burnt out.
thanks for any advice
