Private Foundation Formation


Establish a private grant-making foundation and apply for 501(c)(3) tax-exempt status

What is included?

  • Initial consultation to evaluate your needs
  • Advise on the appropriate legal form for the entity
  • Advise on qualifying for Section 501(c)(3) tax-exempt status
  • Verify name availability
  • Prepare documents to form the entity
  • Obtain an Employer Identification Number
  • Advise on contributing assets to the foundation
  • Prepare bylaws to reflect the desired governance structure
  • Prepare minutes for the initial board meeting including required resolutions
  • Prepare governance policies as recommended by the IRS, including conflict of interest, document retention and destruction, and fraud prevention
  • Prepare and file the federal tax exemption application (IRS Form 1023)
  • Prepare and file the state tax exemption application
  • Register with the state charitable division
  • Advise on the rules applicable to private grant-making foundations, including annual distributions for charitable purposes, private benefit and inurement, self-dealing, disqualified persons, jeopardizing investments, taxable expenditures, and excess business holdings

What is not included?

  • Preparation of exempt organization returns or tax returns
  • Accounting or bookkeeping services
  • Government filing fees