Starting a Private Foundation: What it is + Steps to Start

Want to start a private foundation? How is it different from a public charity? How does it support charitable giving? #Philanthropy #charitablegiving #techforgood #privatefoundations #wealthmanagement

I discuss all that and more in this video!

*** Whether you are interested in starting a private foundation, are a company that helps nonprofit foundations get started, or a nonprofit who wants to learn more about getting funding for your cause, learn more about Foundation Source and reimagining philanthropy here!

// WHAT TO WATCH NEXT

How to choose which charities to donate to (it's not how you think!)

Starting a Nonprofit: Your Basic Compliance Checklist!

Starting a Nonprofit: Finding the Right Co-Founder(s)

// CHAPTERS

00:00 Welcome!
01:15 What is a Private Foundation?
02:20 Types of Private Foundations
03:41 Private Foundation vs Public Charity
05:35 Benefits of a Private Foundation
10:25 Steps to Start a Foundation

// MORE ABOUT ME

Hi! I’m Amber, a nonprofit founder, Executive Director, and public speaker on social impact, changemaking, nonprofits, leadership, and more.

[johnteqonlinetv]

I'm intending to start my own Foundation and that's I came to listen for this video. Thank you 🙏

[tommalsman]

This has me thinking about new options. Just in time too, I was about to commit to a direction that may have some new support and actions with this new information. Thanks, Kid!

[EdUdell]

Someone may be giving a huge amount of money to continue the character work of my mother who has passed on. Her work was based largely on the work her father did to improve the lives of people and community Wherever he lives in the several states where he lived. . And his work came from some work of his father we also work to make life better for individuals. My sister has two daughters that have good jobs and they want to continue the legacy of my mom because her work has helped them and some of their friends and they’ve seen the work She’s done with other people and they want that work to continue through me and others. Thank you so much for sharing such a wonderful outline so my sister, her daughters and myself can take care of these steps, and we can also work with the Foundation Source.

[timothyg]

Thanks, this is what I needed to know more about . I think it is the fit for my plans. Amber I know you are anxious to hear back from your listeners with some real results from your help, , , , stay tuned you are helping more than you know. Cheers

[vgree]

This is exactly what I was looking for. Thank you so much. -loyal subscriber

[Marshall-cy]

I TRULY ENJOYED THE INFO. SO INTERESTING AND EDUCATIONAL 😊😊😊😊

[gugumpanza]

Thank you so much 🙏🏼, I hope it works the same here in South Africa.

[AiSmileSupport]

You are truly a blessin! I believe this is the route for me! Very informative video 🙌🏾 I still have a few questions though, do u offer one on one consulting? Also if I choose to incorporate a Private Operating Foundation, do I have to put the word foundation in my name or am I able to put the word Organization in it instead?

[missnette]

Excellent video, and extremely useful information.

[Ibetala]

Thank you so much for this information <3

[philipkloska]

Amber I'm reaching out to you because you got the best plan and the best concept of what to do I am needing assistance I am a veteran and I'm 52 years old but there's a foundation I want to start up but I'm starting at like ground zero and I love to get your feedback and info from you and maybe a little assistance from you Philip klaska

[davidcolgan]

Could you do a video on how you allocate and spread the money out to support your calls? Like who determines how much and where the money actually goes.

[YaGirlOutside]

I'm starting a non profit to raise funds through community enrichment events and want to create a grant and scholarship program to plug those funds into vocational education in my rural community back home, do I need to set up a completely separate non profit for the scholarship aspect??? or can I simply connect with the high schools and community colleges back home, create criteria and disburse all through 1 org? I don't need to set up two orgs do I? Thanks!

[CobraHooks-iyfe]

thanks for the information, super helpful :)

[JacquelineTorres-fwbw]

This was great. Thank you. Do you need to have a set amount of money to begin the foundation?

[tifabella]

Thank you Amber! That was very helpful. I had a question about the Board of directors in a private family foundation. Can the Board members benefit from a monthly salary for running the foundation, or should it be a volunteer based job like other nonprofits??

[gto]

Amber, just watched this informative video. If I purchase property, in Panama, and place title in a Private Foundation in Panama, is the Foundation treated the same, as if it was in the US? Would I still need to file a 501c3 here in the US? Or is it considered a Panama Foundation, subject to their rules?

[afshinmofid]

Thank you. This was helpful. Is there a fee to start a foundation?

[micomarinas]

what are some of the countries that a person/entity establish a family foundation or corporate foundation but not from the home country in order to avoid political harassment or from dictatorship? can an entity put the foundation under a LLC or asset trust?

[averagemillennialinvestor]

Hi Amber, does Foundation Source help every step of the way from step 1 thru 8?