31 Dec 2021

AAM Nation Care

How To Start A Charity Foundation?

A charity foundation is a type of non-profit organization that helps to provide funding and support for one or more charities around the world. When you set up a charity foundation, you yourself are not a charity. Instead, you seek ways to raise funds for charities of your choice, and can actively engage in charitable activities to help your chosen causes.

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How does one start a charity foundation?

Original planning

Start by planning how you will do things in your foundation. Consider what you will do, which charities you’ll support, what employees you need to hire, and so on. This is also where you consider getting funds to start your foundation, along with anything else. Effectively, it’s a business plan, only for your charity foundation in Pakistan.

Incorporate your foundation

You must incorporate your foundation in the state where you will conduct business. It’s a good idea to hire an attorney to help you with this as you need to file relevant documents and present evidence. When done, you will officially have an incorporated foundation and can move on to the final step.

Register with the IRS

Even though your foundation won’t try to make profits, you still must register with the IRS. You need to apply for an employer identification number, which acts as your tax identification code for your foundation. From here, you will have to fill out form 1023 (Application for Recognition of Exemption Under Section 501c of the Internal Revenue Code). Essentially, this lets you register your foundation as a private foundation, rather than a business.

After this, you have a charity foundation that’s incorporated and registered with the IRS as a non-profit. Now, all you need to do is figure out what causes to support and how to raise money.

If you are looking for a charity that does a lot of good work for people around the world, choose AAM Nation Care. We help people grow into careers they enjoy, empowering them with tools and education that help them thrive. We target low-income communities to ensure that nobody gets left behind because of financial unfairness. Feel free to get in touch with us to learn more about what we do, or to set up an ongoing donation.

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