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“How can I create a foundation as a philanthropic step in my wealth management.”
any people hear of charitable foundations and think how can I make one of those? How can I create a foundation as a philanthropic step in my wealth management?
You've seen the public access shows or other media where a list of sponors is located and some of the sponsor may say the words a donation made by blank name "charitable foundation" Imagine how fun or satisfying it will be to watch a television show or listen to a podcast ot radio or even attend an event that says hosted by your foundation name.
Think of the good you can do locally, nationally or even globally. Creating a foundation as a philanthropic step is atttainable for anyone, irregardless of income.
You can create a foundatiion or even a non-profit in four steps:
Step 1: Start with a commitment towards your foundations goal:
charitable foundations are
essentially a business in it's own right so a committment to making sure on a quarterly or yearly goal is essential.
Step 2: Utilize bylaws options when forming your company: the bylaws help you create positions for those who will be responsible for your charitable foundation. By giving dedicated or specific titles and job descriptions you can ensure a smooth running of your foundation.
Step 3: Design a Strong Board: having a strong board of directors is what will best assisst you in your fundraising for your foundation. Often times professionals within a specific field are used for their name quality in fundraising efforts.
Step 4: Create Goal or Criteria for Fund recipients: knowing what your foundation will fund is part of the step. Knowing or defining what your foundation will give or do is the second step.
Resources for creating your own foundation:
Pleae Note: this list resembles the list on Council on Foundation's list. I did a search for who helps provides the tools and support needed to set up foundations" and got basically the same resources.
I am thanking both Google Sarch and Council On Foundations website for the following list.
Council On Foundations provides no legal or technical assisstance but has a very well written booklet on the guidelines you should consider when deciding to created a foundation
Hurwit & Associates' Nonprofit Law Resource Library has what appears to be the most comprehensive and extensive library of non-profit legal topics.
Their library covers everything from setting up your non -profit,
getting incoporated, tax
20 /MAXPIRA LUXURY LIFE / LIVING: Creating A Foundation A Philanthropic Step