Becoming Non Profit?

[wilsonmw04]

This is a tricky situation. I would discuss your concerns with your administration BEFORE becoming a nonprofit. As a nonprofit of a school activity you are tied to that school. If you do it without consultation it might cause issues for you. (trust me one this one...)

The easiest way to deal with your money issue has already been suggested. There are three options:
1. stay as you are and use open PO's for your suppliers. Create these now so you have them in January.
2. Create a booster club. This is typically easier than an independent entity. This allows you to use your school tax ID number. Depending on the state you are in you may have to register with the state as a corporation. You will need to register with the IRS.
3. true nonprofit. personally, the only advantage to this would be if you wanted to separate yourself from the school system entirely. There maybe some advantages, but I am unaware of them.