Start a Private Foundation
Our SureStart™ nonprofit formation service for Private Foundations provides professional assistance and peace of mind to families and others venturing into the world of philanthropy.
Don’t go it alone. For over 30 years, we’ve been the experts in private and family foundation startup.
Our Founder, Greg McRay, explains our SureSTART formation service.
Client Review
“Setting up a 501(c)(3) is a daunting undertaking that requires a LOT of patience and drive. Foundation Group came HIGHLY RECOMMENDED and they DID NOT DISAPPOINT! From the very first contact, their staff were AMAZING. The knowledge, willingness to teach, guide, encourage, and push at times, was REFRESHING. They LISTENED to our mission, and made sure that EVERYTHING WE DID WAS IN COMPLIANCE with the legal requirements, while staying true to our vision. WELL WORTH THE INVESTMENT!”
RICHARD E.
One In A Million Organization
Benefits of Using Our Services:
PERSONAL EXEMPTION
SPECIALIST
Expertise matters! That’s why every SureStart client is paired with one of our in-house Nonprofit Exemption Specialists, who is an expert in the particular type of organization you are starting. They will dive deep into your plans, and work with you to establish your nonprofit according to compliant, best practice.
OVERSIGHT BY IRS-LICENSED
TAX SPECIALISTS AND CPAS
Credentials matter, too! Foundation Group is the only nonprofit-focused specialty firm in America providing true tax advice and counsel for nonprofits. Our team includes IRS-licensed Enrolled Agents and CPAs, ensuring federal and state tax compliance for all SureStart clients.
NAME
AVAILABLITY
Your nonprofit’s name is your brand. We research name availability in your state, prior to incorporation, so that you can secure the name you most want or the closest variant possible.
FEDERAL EIN
We apply for your required Federal Employer Identification Number, or FEIN, which is the numeric identifier assigned to your nonprofit by the IRS. It is similar to how a Social Security identifies an individual.
ARTICLES OF INCORPORATION
Sometimes called a Charter, this is the document that legally establishes your nonprofit corporation in your chosen home state. Your date of incorporation is usually considered the official, legal birthday of your nonprofit. We prepare your customized Articles of Incorporation for you to file with your state’s Corporations Office.
PRIVATE FOUNDATION BYLAWS
Your bylaws are one of your most important legal documents. They dictate how your nonprofit will be governed. We prepare state- and IRS-compliant, draft bylaws that are uniquely suited to the specific needs of a private foundation. Or, if you already have bylaws, we will review for compliance and advise changes at your direction.
CONFLICT OF
INTEREST POLICY
The IRS requires 501(c)(3) organizations to have a policy that dictates how its leadership will manage conflict-of-interest. We provide an IRS-approved Conflict of Interest Policy that is plug-and-play ready, and will help your leadership avoid unnecessary problems.
IRS 501(C)(3)
STATUS
This is where it all comes together! We prepare your IRS 501(c)(3) tax-exemption application and represent it while under IRS review. We’ve surpassed 50,000 IRS approvals with 100% success, since 1995. Your success is moneyback guaranteed!
STATE FUNDRAISING
REGISTRATION*
The vast majority of states require nonprofits to register with their Division of Charities prior to seeking donor support or initiating other revenue generating activities. Our Compliance Team works with you to get you registered in your home state, unlocking your ability to raise the funds you need. Part of your complimentary SureCOMPLY membership.
STATE TAX
EXEMPTION
Some states’ Division of Taxation requires nonprofits to obtain a state equivalent to IRS 501(c)(3) status in order to be corporate tax exempt. California and Texas are especially complex in this regard. We work with you to apply for and receive state exemption where necessary.
IRS FORM 990-PF
PREPARATION (1ST YEAR)*
Equivalent to a corporate tax return for nonprofits, IRS Form 990-PF must be filed annually by all private foundations. Failure to file can result in having your nonprofit’s 501(c)(3) status revoked. All SureStart clients can rest assured, knowing their first year’s Form 990-PF preparation is included in their startup package. Part of your complimentary SureCOMPLY membership.
ONGOING
CONSULTATION*
SureStart clients are provided one year of ongoing access to our consulting staff by appointment or online client portal. Get the answers you need to make better decisions, reduce risk, and grow your organization. Part of your complimentary SureCOMPLY membership.
OUR GUARANTEE: YOUR PRIVATE FOUNDATION 501(C)(3)
APPLICATION WILL BE IRS APPROVED, OR YOUR MONEY BACK!
*SureStart PF™ Complete Plan.
More About Private Foundations
Private foundations are the cornerstone of philanthropy. They play an essential role in helping fund charitable activities around the globe. Although some may perform their own programs, most foundations are organized for the purpose of assisting public charities through grants and other giving.
A distinct characteristic of private foundations is their flexibility. Control can be vested with a founding family or other closely connected group. Funding is often closely obtained, as well, since many private foundations do not seek public donations. In addition, private foundations are unique in that they are required to annually distribute as little as 5% of net assets for charitably-related purposes, allowing for investments to continue to grow to fund future gifts.
For families and others looking to establish a heritage of charitable giving, a Private Foundation provides the perfect vehicle. Unlike a public charity, a private foundation can be managed by family members only, if you so choose. What better way to instill a legacy of giving that can impact your family for generations!
A private foundation can be a wise choice for non-families, too, if closer control and/or closer funding are critically important to you.
SureStart PF™ Plan
Private foundations, while flexible, are subject to tighter compliance restrictions than charities. You need professionals who understand the rules and who can help you establish a foundation that is ethically structured and maximizes impact.
In our experience in helping over 20,000 nonprofits, we know that those who partner with Foundation Group have a huge head start at long-term success. Our team of experts will prepare your state and federal formation documents, and represent your case before the IRS, tackling any questions or concerns they may have on your behalf.
Best yet, you will get powerful insights and strategic advice, specific to the needs of private foundations, that will jump-start your vision with compliant best practice. Issues like conflict-of-interest, personal services, and grant distributions don’t have to be a headache. Trust our team to make the complex understandable.
Take advantage of our educational materials to learn more about private foundations.
