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Submitted 302 days ago...

Ellecia

Ellecia

New User (2)

How to start a foundation

I am opening a foundation for women in need.batter women,homless women,women that have been release from tdcj or reheb.That need help or a place to stay.I would like to no, how to go about setting up the foundation.The name of it is Second Chance Foundation

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Answer 1 / 2 - Submitted 301 days ago...

IMwondering

IMwondering

Authority (266)

Below are startup steps to successfully launch your nonprofit and maintain government compliance.

Select a business name.
Search for a similar domain name.
Reserve name with the state.
Obtain a local business license if applicable.
Elect a Board of Directors and elect Officers. Directors and officers may be the same 3 people.
Incorporate as a nonprofit.
Prepare And File Articles of Incorporation.
Prepare And Adopt Bylaws.
Prepare And Obtain EIN via IRS Form SS4.
Obtain 501c3 tax exemption status.
Prepare And Maintain First Minutes of Your First Meeting of Board of Directors.
Prepare And File Form 1023 (Federal Tax Exemption).
Prepare And File For State Tax Exemption (See Our Grid For Your State of Incorporation).
Prepare And File Initial Solicitation Registration.
On an ongoing basis, in order to maintain your good standing, most organizations will have to do the following:

Prepare Annual Minutes.
Prepare and File Annual Solicitation Report.
Prepare and File Statement of Information/ Annual Report.
Prepare and File IRS Form 990 and STATE TAX Form.
After obtaining 501c3 exemption, most, newly created organizations will be required to file Form 8734 with the IRS after five (5) years of operation.

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Answer 2 / 2 - Submitted 299 days ago...

Ellecia

Ellecia

New User (2)

I have selected a name for my business,also obtain a local license and a EIN.I need to no what to do after I have took these steps.

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How to start a foundation

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