Frequently Asked Questions
- How do I apply for a new foundation?
Click here to complete an application.
- How much does it cost?
It is quite inexpensive. Click here for our fee schedule.
- What makes my foundation tax-exempt?
Technically, your foundation will be a not-for-profit project under the U.S. Family Foundation, Inc., which qualifies as a tax-exempt charity under Section 501©(3) of the Internal Revenue Code.
- What charities can I give to?
You can give to any charity, which is recognized by the IRS as a public charity. Of course, there are thousands and thousands. Generally this includes churches and synagogues, hospitals, schools, universities, most scientific and educational organizations, museums, symphonies, opera companies, poverty relief groups, homeless shelters, environmental organizations, etc. In certain circumstances, your foundation can also give donations to foreign charities that would not be deductible if those donations were given by an individual.
- What to give?
- How will I know how much to give away each year?
The U.S. Family Foundation, Inc.’s general policy is that 80% of the growth in your foundation each year is donated to the charities of your choice. U.S. Family Foundation, Inc. will calculate the amount for you, and advise you in advance for your review.
- Is there a minimum amount I must keep in my foundation?
No. However, you might want to keep in mind that there are minimum costs associated with running your foundation.
- Can I change the charities my foundation supports?
Yes. Click here.
- Can I establish my foundation and fund it later?
Yes. By completing the application and paying the $500 set-up fee. You can establish your foundation. Funding can occur later through your trust or by bequest through your will.
- What if I set up a foundation but later decide not to fund it?
No problem. There is no obligation on your part to fund your foundation.