Anderson Business Advisors Podcast

Starting A Charity? 8 Differences Between Public Charities and Private Foundations To Help You Decide


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Today Toby Mathis, Esq. speaks with Karim Hanafy, Esq., a leading expert on non-profit law at Anderson, to explore the intricacies of starting and managing a charity, be it a public or private organization. Karim shares invaluable insights on navigating IRS regulations, the differences between public and private charities, and the implications of donations and tax deductions. The conversation delves into privacy concerns for board members and family, the challenges of fundraising for public charities, and the complexities of annual filing and reporting requirements. Karim also discusses potential tax burdens, dissolution clauses, and prohibited transactions. Tune in for expert advice on effectively starting, running, and sustaining charitable organizations.

Highlights/Topics:
  • Get advice from someone who knows the IRS, like Karim
  • Examining reasons for starting a charity
  • Donations and tax deductions - public vs. private
  • Privacy concerns - board members, family
  • Dealing with making donations - public vs foundation
  • Potential tax burdens and rates
  • Dissolution clauses
  • Fundraising can be a challenge in public charities
  • Annual filing and reporting requirements
  • Prohibited transactions
  • Private operating foundations - museums
  • Share this episode with someone who might be interested!
  • Resources:

    Schedule your FREE consultation

    https://andersonadvisors.com/ss/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast

    Email Our Team To Get Your Nonprofit Started

    Start Your Nonprofit Plan in 45 Minutes For Free

    https://andersonadvisors.com/nonprofit-501c3/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast

    Tax and Asset Protection Events

    https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=8-differences-between-public-charities-and-private-foundations&utm_medium=podcast

    Anderson Advisors

    https://andersonadvisors.com/

    Anderson Advisors Podcast

    https://andersonadvisors.com/podcast/

    Toby Mathis YouTube

    https://www.youtube.com/@TobyMathis

    ...more
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