How Do I Start a Charitable Foundation?

Planning Your Foundation:

  • Consider what you will do, which charities you’ll support, what employees you need, and getting funds to start.
  • Incorporate your foundation in the state where you will operate.
  • Hire an attorney to help with this.

Establishing Your Foundation:

  • Define the objective by answering questions like “What sector will I focus on?” and “Where will I see the foundation in ten years?”.
  • Seek ways to raise funds for charities and actively engage in activities to help your causes.
  • Research the legal, financial and tax implications.
  • Develop a mission statement.
  • Create a business plan.
  • Secure funding.
  • Establish a board of directors.
  • Find resources through organizations like the Foundation Center and National Council of Nonprofits.
  • Create a financial plan and monitor expenses to ensure responsibility.

Starting a Charity:

  • While experience helps, it’s not required to start a charity.
  • A team can be beneficial, although it’s possible to start alone.

Foundation Funding:

How much money do you need to set up a foundation?
How do I start a foundation with no money?

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