In most cases, donations paid directly to the school by the parents will be tax deductible charitable contributions (unless the school is a for-profit private school). Donations that are passed through a private individual are never tax deductible to the person making the donation, even if the ultimate purpose is charitable. If you receive the payments and give donation receipts indicating that the purpose was charitable or that the donation is tax-deductible, you can get in big trouble. Also, if you receive money from other people and then pay it to the school, you can’t claim it as a tax deductible donation to charity either.
There are no other tax implications of you receiving a gift from parents and then using that gift to buy school supplies, as long as it is clear that you are not performing any services in return for the money. However, at the amounts you are talking about, if go fund me issues you a 1099, you will have to report the donations on your tax return and find some way of convincing the IRS that it was not taxable income to you. Go fund me will also probably deduct substantial transaction fees. I don’t understand why the parents can’t simply pay the school directly.
If there is a PTA, it may already be set up as a tax-deductible organization, and it may be in a better position to accept donations and transfer them to the school than you would be as a private individual.
