PTA
Money Matters
Because
a PTA is an independent private organization, PTA funds
are private monies and are separate from school funds. The
Virginia PTA and all local units and councils
in the Virginia PTA are 501(c)(3) organizations
(not-for-profit) under the Internal Revenue code as
prescribed in our Bylaws, ** Article III: Purposes,
Section 3 which states:
"Section 3. The organization is organized exclusively
for the charitable, scientific, literary or educational
purposes within the meaning of Section 501(c)(3) of
the Internal Revenue code or corresponding Section
of any future Federal tax code (hereinafter "Internal
Revenue Code")."
A
local unit PTA, council or district that is included
in the group exemption does not have to pay INCOME
TAX on money earned by the PTA for use in its programs.
|
