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Anyone form a subsidiary?

17 years 9 months ago #128435 by I think so
Replied by I think so on topic RE: Anyone form a subsidiary?
No real facts to offer other than our district has an education foundation with 501c3 status and they allow community outreach programs to use thier 501c3 status to receive grant money that is then put back into their outreach program..so I know it can be done....a memebr of the outreach program is on the baord and the entire board has a responsibioity to make sure the program is following proper procedures.

Not sure what i's you have to dot or t's you have to cross but it can be done, the PTO will collect the funds and carry the liability.
17 years 9 months ago #128405 by CapeDad
Our retired principal has a vision of creating an educational interactive courtyard at our school. She had already had a ton of things in place to happen -- all donated materials and labor -- right before Hurricane Charley hit. She lost most of the contractors because they were either dealing with problems or really really busy.

Since retiring, she wants to pursue the project, but she no longer has the non-profit status of the school, and the principal will only support the project to a point. Her goal is to create a 'Foundation' through which she can channel funds donated and make in-kind donations tax-deductible.

To me, this is a huge waste of time when our PTO can essentially do that already. I want to propose that she just let us administer the business part of her work and keep on working like she is working. We could put her on our board and make sure she is always involved.

I think there are 2 issues -- one with perceived 'control' of the money -- why does PTO get the $$$ if it is for the courtyard, and the other with the retired principal's unwillingness to turn any decisions over to anyone but herself (which is fine, since she has been envisioning this for over 10 years).

I was thinking we could form her organization under the 'umbrella' of our 501c3. Is this a very difficult thing to do? Anyone know? I know which of the 'pros' to call -- looking for your opinions, especially if you have any experience.

If you don't expect too much from me, you might not be let down. <img src=images/smilies/smile.gif>
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