(b) Any remaining funds on hand at the time of dissolution shall be turned over to either:

1. (1) The Treasurer of State for the benefit of the General Revenue Fund Account of the State Apportionment Fund;
2. (2) An organized political party as defined in Arkansas Code § 7-1-101 or a political party caucus of the General Assembly, the Senate, or House of Representatives;
3. (3) A nonprofit organization which is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code;
4. (4) Cities of the first class, cities of the second class, or incorporated towns; or
5. (5) The contributors to the local-option ballot question committee.