What can you do to make the world a better place? One of the best things you can do is create a charitable foundation to contribute to a cause that's near and dear to you.
Establishing a foundation is no longer an activity confined to the wealthy. By definition, a foundation is simply a philanthropic organization that contributes financially to designated causes. Anyone - regardless of income - can set up a foundation, according to the National Heritage Foundation. In fact, the organization's mission is to help individuals and corporations do just that.
Established in 1968, the National Heritage Foundation provides the tools and support needed to set up foundations for charitable, educational, scientific or religious activities. It takes care of all of the administrative tasks involved in running a foundation, including receiving all donations, making disbursements, sending charitable receipts for donations, and ensuring compliance with state and federal regulations. It also can help with marketing and fundraising strategies.
To date, nearly 9,000 foundations have been created under the National Heritage Foundation umbrella. Here are some examples of foundations you can start.
* A foundation for your community that contributes to beautification projects, public works and safety initiatives, and recreation programs.
* A foundation for athletes.
* A foundation for the disabled.
* A foundation that helps fund projects in foreign countries.
* A foundation to benefit a school, college, hospital or place of worship.