Establishing a New Private Foundation
Taking advantage of our services, establishing your new
private foundation will be easy. Just complete the Private
Foundation Questionnaire Form, and we will start the process
immediately.
We will use the information on the questionnaire form to:
- Check to make sure that the name you wish to use for your
private foundation is available. If not, we will get back
to you with a couple variations for you to consider.
- We will then generate the required paperwork necessary
for filling with the IRS for tax exempt status for the private
foundation.
- We will have the administrator prepare the necessary forms
and send them to you for signatures.
- We will also enclose the new account forms required that
will establish the investment account for the private foundation.
You will then be contacted by an account administrator to
help you determine the names of those individuals you want
to include in the private foundation and the rolls you want
for those people to play. It is possible to have a single
director foundation if you desire.
Once you have executed the paperwork it will take approximately
two weeks until your foundation is set up and ready to be
funded.
There are no up-front costs for the services as the fees
will be deducted from the private foundation once it is funded.
This allows you to receive the full charitable deduction for
the assets you contribute and for the private foundation to
then pay out its own administrative costs rather than having
after tax expenses incurred by the donors.
As always, if you have any questions about the process and
the services we provide, feel free to contact us toll free
at 800-535-4720.
Tactical Wealth Advisors, LLP
Investment advisory services are provided through Tactical
Wealth Advisors, LLP a Registered Investment Advisor. The
information contained on this site is for educational purposes
only, it is not intended to be professional tax or legal advise;
consult a tax advisor about your specific situation.
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