Bogutz & Gordon - Setting Up a Charitable Foundation or Fund
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@mpwinsma I have been wanting to set up a foundation to help raise funds for communal living projects/experiments or some call sustainable living or resource based living. I would be depending on donations from people, entrepreneurs, and companies for money, food and resources. I am wondering is it legal to derive a salary from this for myself and others that may be involved? No one can really quit their jobs to do this so I am wondering how we would survive otherwise. Thank you, Rob
hiphopbeats4saletv 8 months ago
The main reason I set up the MPW Charitable Foundation, Inc. was to make sure that the mission (transparency and continuity, as well as helping poor women and children) continued after I died. To do this, I needed a perpetual tool, a corporation, whose by-laws and secondary processes I created myself. It was not too difficult, nor expensive. There were no fees to lawyers (incorporation) or accountants (IRS approval), I was able to get volunteers to do this and avoid the costs. You can, too.
mpwinsma 1 year ago