It's not an issue with the IRS. As long as these are school clubs, helping to organize/support them won't raise any eyebrows on your form 1023. Essentially, you will be funding the clubs through the PTO by taking in the money and budgeting it back to the clubs. That's well within your mission, and many PTOs do that. The challenge is to make sure you have a solid accounting system in place to keep track of the finances before you begin.
Hi-
Along the same lines as a recent question I posed about money going through the PTO account, can clubs use our account to run money through. Honestly, they are wanting to avoid having to receipt everyone like they would if they run it through the school.
I am new this year (as are all the other board members) and we will be filing for 501(c)3 status ASAP. We need to make sure that this won't be a cause for rejection or issues with the IRS approving us.