Formation of Public Charities and Private Foundations
We provide a wide array of representation to individuals wishing to
form charities which will derive support from the public (public
charities) as well as charities which are operated and supported by the
family (private foundations). We handle all legal and tax aspects
associated with the formation and operation of the charity including
(1) handing all state filings and incorporation documents -- Articles of
Incorporation, Minutes, By-Laws and state registration and (2) all tax
filings including Form 1023, Application for Recognition of Exemption
and all related IRS filings. We have had considerable success in
working with the IRS and obtaining IRS approval for our clients in this
arena.
Aside from the obvious tax benefits, we have found that the family private foundation serves as an excellent vehicle for preserving the concept of charity in one's family even after the death of the founders. As a side, but important, benefit, the family foundation also ensures that family will continue to interact even after the death of the founders. Finally, the foundation is an excellent tool for avoiding the potentially colossal income and estate tax bite on retirement benefits.
Aside from the obvious tax benefits, we have found that the family private foundation serves as an excellent vehicle for preserving the concept of charity in one's family even after the death of the founders. As a side, but important, benefit, the family foundation also ensures that family will continue to interact even after the death of the founders. Finally, the foundation is an excellent tool for avoiding the potentially colossal income and estate tax bite on retirement benefits.
Document Actions
© 2006 Law Offices of Aryeh Guttenberg. Disclaimer
Aryeh's AIPAC Presentation of June 1, 2008
