Budget
Nurturing Education, Empowering Growth: 93.63% invested in Students and Staff by Thompson PTO over 5 Years.
Utilization of Surplus Funds and Deficit Operation for Fiscal Year 2023
Over the past four years, our dedicated community of supporters, through generous donations and fundraising efforts, has enabled Thompson PTO to accumulate surplus funds. These funds, while essential for sustaining our mission, have resulted in the accumulation of surplus that requires careful consideration.
In accordance with IRS regulations, it's imperative to ensure that the funds raised and donated to our organization are utilized for their intended charitable purposes within a reasonable time-frame. By not expending these funds as planned, we risk potential tax implications and complications in maintaining our nonprofit status..
By operating in a deficit now, we aim to correct the financial trajectory and ensure that we neither underspend nor risk noncompliance with IRS regulations in the future. This proactive measure enables us to channel our resources more effectively, support our programs and initiatives, and maximize our impact on the community we serve.