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How do you start a charity?

charity
christic asked:

Last week my colleagues and I each pitched in some money to play the lottery. we were asking each other whatwe’d do with the money if we won. I said I’d keep a fourth for myself and use the other 3/4s to start 3 charities. Although I didn’t win the lottery I kinda still want to start the 3 charities. One is a scholarship, the other is a research fund, the other is a pediatric charity. The problem is I need 10 million to start each charity. I was going to put the money in a high yield savings account or buy bonds and whatever interest is received will be the money that goes to the cause. that way I can still give even after I’m long dead. Since no one is going to write such a huge check without proof how do you start a charity? I know there’s some registration you have to do to make it tax exemptable. what do I have to do?


2 Comments to “How do you start a charity?”

  1. Christian commented on: May 25th, 2006 at 1:34 pm

    Hello!
    It is really nice to know that you would like to start a charity!
    There are a lot of websites that you should check out for important information.. Here is a list:

    1. WIKI HOW TO START A CHARITY:

    2. IRS CHARITY EXEMPTIONS:

    3. HOW TO START YOUR OWN CHARITY:

    HOPE THIS HELPS AND GOOD LUCK!!

  2. Tracey L commented on: May 26th, 2006 at 1:36 am

    My View on this is to use the phone and ring around to other Chair ties. Ask questions,Do surveys on what people want and need.
    Good Luck

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