Kayla;138061 wrote: So as the board members change, the information of the new board members MUST be submitted to the state? I assume any other significant changes must also be submitted? I want to be able to pass this information along to those who "take over" as board members in the future.
You'll need to check with what your state rules are. In our case, our state mostly cared that they had a "registered agent" - a current point of contact for the organization. Since there's a small fee (plus the trouble) of submitting a change each year, we list our principal as the agent. Our last one was here about 20 years and the current one was vice principal for 10+ years and will likely stay many more years. So less changes to submit.
i've completed the incorporation and 1023 for 2 PTO's and I'm "just a mom". If you are careful, take advantage of the resources of PTOToday and the IRS, and don't rush, you can definately complete the forms without paying for professoinal assistance.
Each year, we get our incorporation renewal form in the mail to the principal's attention, and we get our IRS return form in the mail as well. Both must be completed to stay current. The inc renewal is trival. The IRS form is more involved, but fairly consistent year to year so once you've done it, you have a great sample for the future.
Also, each year the IRS wants you to send the names of your new officers to them so they can update their files. The incorporation renewal form for our state (I think) also asks for the names of the current officers. You're also supposed to send the IRS your bylaws if you make major changes.
Yes, you do need to make sure the future leaders understand this is not optional. Information about the renewal and annual IRS form must be added to the treasurer's and president's files. During officer transition, the new exec team must be educated on the importance of the annual reporting. Once you are a 501c3, this stuff can't fall thru the cracks.
It's one thing to successfully complete the original applications for incorporation and 501c3. But that's only the beginning. By doing so, your PTO moves into a new stratosphere of professionalism. You have to continue to take yourselves seriously and behave like a professional organization from now on. So if you look around your PTO and have serious concerns about the future strength of your group, this might not be the time to formalize your PTO. On the other hand, if you feel confident that your PTO has a bright future, and your future members will share your enthusiasm and respect for the group, then move ahead with formalizing.
So as the board members change, the information of the new board members MUST be submitted to the state? I assume any other significant changes must also be submitted? I want to be able to pass this information along to those who "take over" as board members in the future.
Incorporating does help protect you, but you need to check your state for the relevant laws/process. For most states it's a nominal amount and well worth doing. Filing an update is either free or doesn't cost much. For instance, in Texas, it costs about $25 to file initially and then $5-$15 to file changes each year. (Which is why many of us list the principal as the registered agent as he/she tends to be around for a few years.)
This is true for most states. But a few people who have participated in discussions in the past told us it was more complex/expensive in their state. I can't remember specifically which ones, but it was only a couple. In most cases, incorporating as a non-profit is very simply. (Nothing like the 501(c)(3) application.) It's a short application with basic information and they usually have a 1-2 page template that can be used as your Articles of Incorporation. (Although in Texas, they are now calling this a "Certificate of Formation".)
I completed the forms for my elementary school myself and I am a project manager. I don't know of any school in my area that contracts a lawyer or accountant do work for them.
