I am currently a board member of a PTA that wants to become a PTO. I would like any advice that can be given on the proper steps to do this. Our PTA spent conservatively this year in hopes to allocate money for next year due to district wide budget cuts. I know that we need to apply for non profit status and insurance, but do the tax forms need to be filled out by a professional or can we do it? Also, what are the yearly responsiblities that a PTO has to perform regarding tax info,paperwork, etc. Can we carry over money or do we have to spend it all each year? If we don't spend all of our money, do we have to pay taxes on that money? What is the best way to convert our funds left from the old PTA to the new PTO. Any and all info and advice is truly and greatly appreciated!!!