Question: PTO funds if there's no PTO for a year

What must happen to the money in the PTO bank account if there is no PTO at the school for a year? We may not have enough volunteers to run a PTO for the next school year, but would like to hold onto any monies we still have, for the next PTO that may step up in the future. Does the money HAVE to be donated to the school (or any charity of our choice) or can we hold onto it for a rainy day?

Asked by sbwoolsey

Answers:

Community Advice

pkzcass writes:
Wow, we re just discussing this last night at our meeting. We're redoing our bylaws and someone brought up this question. We're nowhere near dissolving, but if we were, we don't have it specified what happens to the funds. So while we're not in danger of dissolving, we do still need to address this question. Anyone care to offer some suggestions?