Question: EIN and Tax Exempt

I have been reading several articles on PTO Today and the IRS. Back story: I am the new co-leader at our school PTO team. The team was formed years ago and fell apart with all new leadership this year. We are attempting to hammer a few things down and are new to the process. We currently have an checking account set up that the school gave us and put our names on. We have used the school Tax Exempt form for purchases. The school's insurance has confirmed that they will cover all our events as long as they are on school property. Based on what I have read, it seems as long as we gross less then 5000 a year we do not need our own EIN number or Tax Exempt number. Can anyone offer advice on if I have a correct understanding?

Answers:

Advice from PTO Today

Rose H writes:
HI bonnie.nicole.miller,
Yes, what you've said it correct about EINs and gross receipts under $5,000. One thing to think about, however, is if you are using the school's EIN you are essentially functioning as a part of the school and really don't have (or shouldn't expect) any independence. So, give that some thought in terms of what kind of role your group would like to play at the school.

Rose