Question: Starting a PTO

How do we become an official PTO? What documents do we need to be able to open a bank account & start fundraising? Can we start a PTO for music parents?

Asked by jennporcelli

Answers:

Advice from PTO Today

Craig writes:
To open a bank account you need an Employer Identification Number (EIN) from the IRS. This is like a social security number for businesses. You can get it online by going to www.irs.gov and filling out form SS-4. It takes just a few minutes and you will get an EIN right away. Once you have your EIN you can get started with fundraising, etc. As you get organized you'll want to look into getting incorporated and filing for official tax-exempt status from the IRS. You have 27 months from your start date or incorporation date (whichever is later) to apply for tax-exempt status, and it's retroactive. The article How To Start a PTO has advice and links to resources that will help you get started. Good luck!