Helped Clients Recover Over $25 Billion. Since 1979.
Helped Clients Recover Over $25 Billion. Since 1979.
A private foundation gives a donor or family a lasting organization with its own board. Its grants go out under its own name. The Schenk Law Firm forms the foundation, drafts its bylaws, and sets up its board so it starts on a sound footing.
Forming the Foundation
We form the foundation as a California nonprofit corporation and prepare its articles of incorporation with the purpose language a charity needs.
Bylaws
We draft bylaws that set how directors are chosen and replaced, how decisions are made, and how the founder’s role carries forward to the next generation.
Board and Officers
We prepare the first board consent that adopts the bylaws, elects the officers, and sets up the foundation’s bank and records.
Conflict-of-Interest Policy
We prepare a written conflict-of-interest policy and the annual disclosure forms for directors and officers.
State Filings
We file the formation documents and the Statement of Information with the California Secretary of State.
Coordinating Your Advisors
A tax attorney or CPA handles the IRS exemption application and the federal rules on dealings between the foundation and its insiders. We work with yours, or we find one for you, and we keep the documents consistent.
How much money do I need to start a foundation?
No legal minimum applies. The running costs make a foundation more practical for larger amounts, and a donor-advised fund is often simpler for smaller ones.
Can my family serve on the board?
Yes. Many family foundations have family members as directors, and the bylaws can plan for how the next generation joins.
Can the foundation pay me or my family?
Federal law strictly limits transactions between a foundation and its insiders, including family members. Your tax counsel should review any payment or deal before it happens.
Should the foundation be a corporation or a trust?
Both are possible. A nonprofit corporation offers familiar rules for a board and makes it easier to change directors over time.
What happens after it’s formed?
The foundation needs its IRS exemption, annual returns, state reports, and regular board meetings. We handle the corporate records and work with your accountant on the rest.
Experience
David Lizerbram has practiced business law for more than two decades. Benjamin Schenk founded and runs a commercial real estate investment and asset management firm.
Governance Built In
We draft the bylaws and board documents with succession in mind, so the foundation can outlast its founder.
One Coordinator for Your Advisors
We act as the coordinator for your plan. We work with your tax attorney, estate attorney, and CPA, or we find the right ones for you and coordinate their work with ours.
The Schenk Law Firm is based in North Park, San Diego. We form and advise foundations throughout California.
Our full philanthropy and nonprofit practice.
Private Foundation vs. Donor-Advised Fund
How the two main giving vehicles compare.
A flexible company for grants, investments, and advocacy.
Giving private company shares before a sale or public offering.
Entity Formation & Structuring
Choosing and forming the right company and setting up its ownership.
Bylaws, resolutions, and the records that keep an organization in good standing.
A foundation’s bylaws and board set how it runs for decades. We can form the foundation, prepare its documents, and coordinate the tax attorney or CPA who handles the exemption.
Contact us today to discuss starting a private foundation.
Request a ConsultationIt’s a charitable organization usually funded by one person, family, or company. It makes grants to other charities and is tax-exempt, but it follows stricter federal rules than a public charity.
Generally, yes. A private foundation must distribute about 5% of the value of its investment assets each year for charitable purposes.
Yes. Its annual federal return, which lists its assets, grants, and directors, is available to the public.
Generally, yes. Charitable organizations in California register with the Attorney General’s Registry of Charities and Fundraisers and file annual reports there.