2023 Foundation Q&A Call Podcast

See the Video Recording here: https://us02web.zoom.us/rec/play/zkQkv8F54Rv7G0iB36KUwDZHkL9OiWr8jEvAgWtOZdX24qjiTS3etvVPcTutgLjEJmN0WY8qDor2E6Lu.ERcrZrZNnyRcVIwK?autoplay=true&startTime=1704733507000

Access the Live Transcript here: https://otter.ai/u/go7FtkItLBusfo3DK1tT4h9_Pt4?utm_source=copy_url 

Looking to invest in life insurance and leverage your Trust? 

• Email Ben at [email protected], or use the link below to receive your free quote!
• Get your free quote here: https://www.abundancegroup.com/insurance

Creating a Wyoming Private Trust Company (PTC):

1. Pay for your PTC: www.abundancegroup.com/ptc
2. Create an account: www.belgrovemanagement.com
3. After creating an account, click the "messages" tab on the left side of the page and follow the instructions.

Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support

Outline:
-Grants, foundations, and celebrations. (0:00)
-Trust documents and automation. (4:33)
-Legal documents and PTC setup. (10:59)
-Trusts, management, and banking. (17:35)
-Nonprofit grants and tax deductions. (24:17)
-Trusts and LLCs for nonprofit management. (32:32)
-Trusts, foundations, and tax implications. (39:51)
-Credit card approval and limits for a Personal Trust. (45:12)

See the Video Recording here: https://us02web.zoom.us/rec/play/IjfCZQMjYZmlgEiqqeirb2NPDSxB_US_XaNMGQVbW8E2vuyYrnq-iL4PQGlDjt72HjDgM0bd9BapYFxz.lB1I13dmBgP4-wT1?autoplay=true&startTime=1700499799000

Access the Live Transcript here: https://otter.ai/u/saNG_jUrBf9zaJcYxsYUMO9lLHs?utm_source=copy_url 

Looking to invest in life insurance and leverage your Trust? 

• Email Ben at [email protected], or use the link below to receive your free quote!
• Get your free quote here: https://www.abundancegroup.com/insurance

Important Links:

• Private Family Foundations and the Law: https://drive.google.com/file/d/1rA62aaVkGPyNDu0oJo4yWgAMK-AokquP/view?usp=sharing
• Foundation Workbook: https://drive.google.com/file/d/1ywmrWpmYxgBspF7iZJLdaqRxeeFp3Bc2/view?usp=sharing
• Family Foundation Retreat Guide: https://drive.google.com/file/d/1N-Ab7WTIExNKRnNug-VC0ys0t4auRMx4/view?usp=sharing
• Publication 526 - Charitable Contributions: https://drive.google.com/file/d/1VvRnvTmAVHizY_p87bfnPhXiK75zkGmW/view?usp=sharing
• IRS Resources for Charities and Non-Profits: https://www.abundancegroup.com/charities

Outline:
-Managing foster care funds and Trusts. (4:26)
-Business Trust and property division. (13:48)
-Setting up a single-member LLC and Trust for real estate investment. (21:12)
-Trusts and LLCs for real estate investments. (28:13)
-Trusts, bank accounts, and property sales. (38:43)
-Business structure and taxes for real estate investors. (45:13)
-LLC formation and taxes. (53:59)
-Private foundation rules and tax implications. (1:02:31)
-5% expenditure rule for non-profit foundations. (1:15:56)
-Charitable Trusts and foundations. (1:24:48)

See the Video Recording here: https://us02web.zoom.us/rec/play/N1qm-ajYcQ_JxTENYEwXS6FQw2I_xPmaqAJj19ara2Zx3NBMMKa8VTyXT3hB_zkYlSs1FbgQF4sDm-O_.gxUUs6IcEBelf8dG?autoplay=true&startTime=1699895097000

Access the Live Transcript here: https://otter.ai/u/838I2QY_Okw1aNFQnpqEZsoBQ_I?utm_source=copy_url 

Looking to invest in life insurance and leverage your Trust? 

• Email Ben at [email protected], or use the link below to receive your free quote!
• Get your free quote here: https://www.abundancegroup.com/insurance

Outline:
-Trusts, taxes, and legal documentation. (0:03)
-Trusts, taxes, and asset protection. (7:09)
-Taxes and refunds for a business. (19:09)
-Conservation, rewilding, and supporting young communicators. (30:51)
-Importance of pollinators and biodiversity. (36:57)
-Conservation efforts and supporting small organizations. (40:50)
-Fusion energy and its potential for clean energy. (46:44)
-Fusion energy and its potential. (50:23)
-Nuclear energy, fusion, and waste management. (54:46)
Carbon sequestration and preserving old-growth forests. (59:47)
-Environmental protection and indigenous rights. (1:05:42)
-Conservation efforts and fundraising strategies. (1:12:25)

See the Video Recording here: https://us02web.zoom.us/rec/play/5tX_Qvrr4DIMUAfFYNahL8Ir16dDcm3ifXCkjR5byk6dHx7pOMKCVJE08xui368uwmrhnXCYu5vW93Xy.RJqaGwwXl9oW0fzh?autoplay=true&startTime=1686585864000

Access the Live Transcript here: https://otter.ai/u/RDB_OdkAt_b2ijk8FDT63MvxeNo?utm_source=copy_url

Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event

• There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!

Looking to invest in life insurance and leverage your Trust? 

• Email Ben at [email protected], or use the link below to receive your free quote!
• Get your free quote here: https://www.abundancegroup.com/insurance

Important Documents from this Call:

• Chart of Accounts for Personal, Business, and Foundations: https://docs.google.com/spreadsheets/d/1hymv8bIaSPCXqowvylYnatwaq2HzH2qJ734x8gUtVuE/edit?usp=drive_web&ouid=115143930428794792317
• Change of Name - Exempt Organizations | Internal Revenue Service: https://www.irs.gov/charities-non-profits/charitable-organizations/change-of-name-exempt-organizations
• Private Foundations:
  1. Life Cycle of a Private Foundation: www.abundancegroup.com/lifecycleprivate
  2. Compliance Guide for Private Foundations: www.abundancegroup.com/complypf
• Public Charities:
  1. Life Cycle of a Public Charity: www.abundancegroup.com/lifecyclepublic
  2. Compliance Guide for Public Charities: www.abundancegroup.com/complypc
• Other Links:
  1. Resources for Charities and Non-Profits: www.abundancegroup.com/charities
  2. Publication 526 - Charitable Contributions: www.abundancegroup.com/pub526
  3. Courses for tax-exempt organizations: www.abundancegroup.com/stayexempt
  IRS Exempt Organization Customer Service: (877) 829-5500

Outline:
-The importance of using Daily.ai. (0:00)
-Using daily.ai for real estate investors. (3:01)
-How to get people to subscribe. (6:11)
-Questions from Mark and Laura. (10:14)
-Public disclosure requirements for Private Foundations. (16:04)
-Resources from IRS.gov. (20:37)
-How do you get IRS assistance and information? (24:54)
-DBA’s for foundations. (28:28)
-How to change the name of your Foundation? (31:59)

See the Video Recording here: https://us02web.zoom.us/rec/play/hNPpZE2WCh7IwC8QavPx6VQboyS9CFumxOImsXbRAUasToS-2B-cCUil0umDeWqCr3QEPbipP28e99uY.knZ5VbML8To25lOV?autoplay=true&startTime=1679328430000

Access the Live Transcript here: https://otter.ai/u/rpjIQH5R8eh4Mck1rK8SWKzQNeE?utm_source=copy_url

Looking to invest in Life Insurance and leverage your Trust?
Receive your Free Quote here: https://www.abundancegroup.com/insurance

Reach out to Charles Hooper with the Stewardship Institute to file the 1023-EZ Form to receive your determination letter:
-Charles Hooper
-Phone: (916) 543-3205
-Email: [email protected]

Taxes on Self-Dealing: Private Foundations | Internal Revenue Service: https://www.irs.gov/charities-non-profits/private-foundations/taxes-on-self-dealing-private-foundations

Goodwill vs. Other Intangible Assets: What's the Difference?:
https://www.investopedia.com/articles/investing/100614/goodwill-vs-other-intangible-assets-whats-difference.asp#:~:text=Key%20Takeaways,agreements%2C%20and%20website%20domain%20names

About Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations: https://www.irs.gov/forms-pubs/about-form-7203

Outline:
-How long does it take to get a determination letter?
6:23
-Family Retreats to the heart.
13:07
-The definition of an endowment.
17:46
-Forming a Pllc in Oklahoma.
24:12
-The definition of impairment of goodwill.
30:18
-Do you need to do tax returns for each division?
37:15
-Filing a form to establish a partnership.
42:56
-How to prepare a Cfr for a trust.
48:17

See the Video Recording here: https://us02web.zoom.us/rec/play/xYgF5LcUtccRBuEEs7u3J78lK2AKMI5Bwe-IMJslrLAxEblyqYqeVpx7zpWo9nvfC4Kn-fDJZycS7RsA.ruS6K0pqRekS5p50?autoplay=true&startTime=1678723473000

Access the Live Transcript here: https://otter.ai/u/c0ac2Vg8ANnvWoof8QlWCmJ_n4k?utm_source=copy_url

Outline:
-Intro to the Heroes of Irish Legends.
0:02
-Pulses Heroes Foundation.
8:13
-Filling out the 1023 form.
21:04
-Family Retreat vs. Site Visit.
27:16
-What is the deadline to register with the state of Washington?
35:27
-How to open a new account at Alliance.
47:09
-The importance of leaving a message for clients.
55:29
-The flexibility of being micro-to- macro.
1:01:32

See the Video Recording here: https://us02web.zoom.us/rec/play/85KFe9v6eWPM_Z7Gk5rORkUbS426i_cMNuFSQ1phUG1i6HOcH-E-aFOT73AEiwKYyA5etvJhn7MBj7Kj.XsFPiasBh4XYm5yN?autoplay=true&startTime=1675703057000

Access the Live Transcript here: https://otter.ai/u/JkcaRZfSdWxz55v7TpzQ3d48arA?utm_source=copy_url

Outline:
-The charitable contribution deduction can be itemized.
0:03
-How to prepare to file for the 1023-EZ Form.
10:51
-The best way to come up with a mission statement.
20:32
-The importance of having a second debit card.
26:39
-Transitioning the LLC into a partnership.
32:53
-The role of a trust protector.
41:57
-How to set up a private trust company.
50:42
-A question about the basis calculation.
1:00:59
-Units of beneficial interest.
1:06:45

See the Video Recording here: https://us02web.zoom.us/rec/play/oh9bo_1EWvv31CTXq2E7t0-NXFCh0a-rhT2ZOuT_e4CvO9S3J4qLZtd66qzzAVWb5J__oaDXRWrhuUno.SbSYCLV61JaH6d1F?autoplay=true&startTime=1674494227000

Access the Live Transcript here: https://otter.ai/u/YC-AFla-V5pGsjtjB-lCYoIXPYM

Google for Non-Profits: https://www.google.com/nonprofits/

Google Ad Grants Activation Guide: https://support.google.com/grants/answer/6077350?hl=en

TechSoup.Org: https://www.techsoup.org/

Quickbooks Online for Non-Profit Users: https://www.techsoup.org/community/events-webinars/quickbooks-online-for-new-nonprofit-users

Intuit for Non-Profits: https://www.techsoup.org/intuit

What Facebook Ads Can Do for Your Organization: https://techsoup.course.tc/catalog/facebook-ads-track

IRS Charities and Non-Profit Organizations: https://www.irs.gov/charities-and-nonprofits

Outline:
-How to use an independent contractor agreement to get money out of your foundation.
0:02
-What is the nature of self-dealing document?
13:02
-How often during the trip do you have meetings?
22:27
-How to get more information from TechSoup.
30:10
-How to get your foundation registered with the Secretary of State.
37:46
-Any association the principles and activities of which are not repugnant to the constitution or laws of the United States or of the state may register in...
45:56
-Are you allowed to operate an unincorporated association in Florida?
55:10
-What’s going to happen if the 60th day is after the end of the year?
1:02:17

See the Video Recording here: https://us02web.zoom.us/rec/play/nKUJqgdCefuA5BaS7JLgiqdREfZmlQX6s9YS2HNeegwF3sHV6CYSzxOf2o3eKTQOZ5piBUClCgb64h9b.viZqbW1EEEwFRmJt?autoplay=true&startTime=1670864525000

Access the Live Transcript here: https://otter.ai/u/R5yIX-otVo7jUC8Mdj0HA8HSKiI

Equipment and IP Lease Agreement: https://docs.google.com/document/d/1YhgBE5-zkDjceqNy0XRT4E3VDHdP1Etz3J6mfyKxnRo/edit

Free Licensing Agreement: https://legaltemplates.net/form/lt/licensing-agreement/?utm_source=google&utm_medium=cpc&utm_campaign=83-License%20Agreement&utm_term=exclusive%20trademark%20license%20agreement&utm_campaign_id=801313379&utm_adgroup=License%20Agreement%20-%20Simplified&utm_adgroup_id=126834960644&utm_content=563376179892&gclid=CjwKCAiAv9ucBhBXEiwA6N8nYJbOst2UnY-Lhj78w3ZDpNTQRmai3UjXupc9xyaIxOuRA2UYRO6ufBoCGxQQAvD_BwE

Leverage Black Book: https://askggg.com/lbbthanks

Outline:
What is the vortex model of doing business?
-7:48
What’s the difference between a private family foundation and a public charity?
-17:19
What kind of agreement do I need to write up for that? How will I find something to model?
-23:40
How do I make my products the property of my personal trust?
-28:19
What is the difference between being a trustee in a private family foundation and a nonprofit?
-34:58
What if your 1099 is higher than the 1099 you’ve used?
-41:23
How much can a corporation donate to a non-operating association?
-50:08
How is the LLC treated as an S-Corp?
-56:20
Don’t treat a donation as unrelated business income.
-1:04:08
How the three brothers are operating the foundation.
-1:10:48
How does a trustee leave a charitable trust?
-1:17:19
What are the operating rules for a foundation?
-1:23:35

See the Video Recording here: https://us02web.zoom.us/rec/play/3A2rkcxt0T6Mwd9GH7EtEtwdIk0Nlk7bTmkSrZ7FFx_i_us4pCM3wJg3XyTmddIbGQ-C4q_61zH72BDX.wrW-dc-RWhsDplkd?autoplay=true&startTime=1669654938000

Access the Live Transcript here: https://otter.ai/u/sVCSTxoyAGkeUDTHJXczs-e2xQs?utm_source=va_chat_link_1

Outline:
Private Family Foundations vs. Public Charities.
-0:00
Can the public charity be done in other countries?
-5:42
Public charity vs. private family foundation.
-12:34
Why you need to have a membership association.
-17:23
The difference between a trade association and a non-profit.
-22:46
When you think about all the sellers that we have, the fact that they could have a nonprofit arm of what they’re doing locally.
-27:36
What’s the flowchart like?
-31:46
What if a charity gets a commercial real estate building that produces income?
-38:23