Many people regularly set aside a portion of their earnings to give to a good cause. However, if you often give a substantial amount to charity, and if you have the resources and influence to encourage others to do the same thing, why not start up your own charitable foundation? Not only is it good for humanitarian causes, it can be good for you tax-wise as well.
On this website, you’ll find tons of information about starting a charitable foundation. This is geared not only for people who are interested in setting up their own charitable foundations, but for those who are having trouble expanding and growing their foundations. We hope this will also be a valuable resource for investors who want to get background information on charities before they donate to one. We’ll teach you how to start a foundation, how you can fund it, and how to turn it into a successful endeavor, which is a win-win situation for you, and the cause you are advocating.
What is a Charitable Foundation?
A charitable foundation is a nonprofit institution that advocates a cause. These organizations play an important role in preservation and growth of communities, species and ideologies. The life of a charitable foundation lies in the generosity of donors and devotion of volunteers who provide services for the foundation. Some charitable foundations act as an alternative solution to services offered by the government.
A foundation can either accumulate funds and manpower for other charitable causes, or use these resources for their own activities. Foundations can support a number of causes, including cultural, educational, scientific, environmental and humanitarian. If you are planning to start your own charitable foundation, it is important to adhere to the IRS guideline for private and public foundations.