THE COMMUNITY HOUSE NETWORK
  • About Us
  • Join Us
  • Neighbors In Need
  • Brick+Mortar Memories
  • Neighborhood Association
  • About Us
  • Join Us
  • Neighbors In Need
  • Brick+Mortar Memories
  • Neighborhood Association
Search

Public Charity vs Operating Foundation

10/13/2020

1 Comment

 
So I had my first conversation with Nick from Foundation Group and he had me convinced that I should become a public charity instead of an operating foundation.  

Advantages to a public charity - Allows anonymous donation, easy payment of program directors (including myself), and some other things I can't remember.

But there were a few troubling things.
First and foremost, 1/3 of all funds must come from small doners (the public).  I am not sure it would be easy for me to do this.  Initially, I have set aside funds that were left to me by my step-mom to start this project.  My own monies will be used to purchase the houses and these will be considered part of the revenue of the project.  I am not sure I could make up 1/3 in donations, and I DON'T want to have to beg.

Also there are limitations regarding board members.  Although I have members in the community ready to participate, I also would like Ed my fabulous fiancee who is my level-headed support system to sit on the board.  In a public charity you cannot have board members who are related.

Anyway, my intuition is telling me to go with the private operating foundation.  As I said to Nick, if it doesn't pan out, then it will simply be "back to the drawing board".
1 Comment
Lori Weber link
5/19/2022 06:55:41 pm

Nice ppost thanks for sharing

Reply



Leave a Reply.

    Author

    An Idealist-Realist.  Striving to Bring those Idealistic Dreams into Reality.

    Archives

    May 2025
    April 2025
    March 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    May 2024
    December 2023
    October 2023
    May 2023
    January 2023
    December 2022
    August 2022
    April 2022
    March 2022
    February 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020

    Categories

    All

    RSS Feed

Proudly powered by Weebly
  • About Us
  • Join Us
  • Neighbors In Need
  • Brick+Mortar Memories
  • Neighborhood Association