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Lending Money to OM

22 years 7 months ago #96070 by Kathie
Replied by Kathie on topic RE: Lending Money to OM
My two cents: A couple of things came to mind when I read your post. First, The OM world tournament is not until July and I would think that they could easily do a couple of fundraisers between now and then. Second, $4,000 sounds high. The tournament is in Colorado and even from here in PA we can get round trip air fare for around $300 a person. In fact, that's what my son paid last year for a group rate when he went to the Philmont scout ranch and they left from our small regional airport. We had a team last year that went to Worlds and expect to have at least one or more teams go this year. What we do is have a om sponsored golf tournament and then the team(s) also ask area businesses and the school board directly for donations. Good luck!
22 years 7 months ago #96069 by copres
Replied by copres on topic RE: Lending Money to OM
Thanks everyone for your comments
22 years 7 months ago #96068 by TheMetzyMom
Replied by TheMetzyMom on topic RE: Lending Money to OM
While I am certainly no legal expert on the money loaning thing, I think I may have the answer for you. When I took over as prez, I went a bit retro, that is I went back and instituted some fundraising techniques from my mother's day, back in the 1960's. We have several 'clubs', which according to the previous prez, we shouldn't be helping as it doesn't really benefit ALL the students. Since I felt differently about that, I got creative. I went to each club (Computer Club, Chess Club, Bell Ringers, etc.) and explained what my plan of action was. Using Chess Club as an example: They needed new chess boards, new pieces, new clocks and wanted every member to have a matching Chess Club Shirt. All told, about $1000 worth of stuff. Our PTVO paid for the boards, pieces clocks straight up. We didn't pay outright for the shirts; instead we 'bought down' the shirts. They run $8 each, PTVO paid $3 and the kids paid $5. We 'donated' 2 shirts as well. Then, after everything was paid for, we had the Chess Club run a small fundraiser within itself. Those little community cards that give you discounts on fast food around town? Find out who has already run that promotion for the year (our High School Robotics Club had run it earlier in the year) and see if they have any extra cards left. Call the vendor who did the cards and see if they have any left. We did this for each of our clubs, and any profit left over, we put aside for other things that will come up for that club, like Chess Federation dues, local tournaments, etc. We did this for each respective club and special interest group. This could also be done for individual classroooms or grades if you wanted. It pays for itself and gives the kids a sense of pride of ownership and of having 'payed for and donated to' their own club.
I hope this helps, or at least gives you some helpful ideas! :D ;) [img]tongue.gif[/img] :D [img]tongue.gif[/img] ;) :D
22 years 7 months ago #96067 by tamo
Replied by tamo on topic RE: Lending Money to OM
Our school has never funded a small group because if you do it for one you have to do it for all of them. We have however budgeted for the whole 6th grade class $1500.00 for their trip to Boston to whale watch. Theis year they aren't going but they still kept the money as a final farewell for them to do something.
22 years 7 months ago #96066 by ncpto
Replied by ncpto on topic RE: Lending Money to OM
I agree...a PTO is not a bank and not in the business of "lending" money. Either you approve paying for the trip (or part of it) or not at all. Of course, this will also depend upon your bylaws, if you are 501c3, and what the majority vote is for funding this expenditure. Good Luck!
22 years 7 months ago #96065 by Carolyn R
Replied by Carolyn R on topic RE: Lending Money to OM
I am definitely not qualified to answer this, but is your PTO a tax-exempt organization? I would think they would not be allowed to "lend" money. When we buy for the school, it is considered a "donation", I think you have a right to be concerned. I also think this is why many programs cannot be implemented right away due to the amount of planning involved to have monies available. Some grades fundraise a year in advance to help pay for trips and such. Unless PTO decided to fund the cost of the trip, we would have to deny such a request. Good Luck
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