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Chamber Foundation Basics - Creating a Foundation

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In this two-part e-course, Ashleigh Allione and Judith Kim of Venable LLP share information on how to create a nonprofit corporation exempt as a 501(c)(3) in connection an existing 501(c)(6) organization. Course content was developed based on information needs of ACCE members seeking to create chamber foundations or reactivate dormant foundations, and includes information on state law basics, steps to incorporate, how to apply for and maintain federal tax exemption status, and important items relevant to the ongoing relationship between the 501(c)(3) and 501(c)(6) organizations.

Course materials include a checklist of important steps in forming and operating a 501(c)(3) foundation, along with links to relevant IRS publications and sample policies, bylaws, and articles of incorporation.

 

 

Cost: $49.00 (ACCE members); $100 (nonmembers)
Nonmembers, please contact Tamara Philbin at tphilbin@acce.org to purchase.

 

 

Creating a Foundation, Part I

Duration: 19 minutes

Content includes state law basics on how to create a nonprofit corporation; the benefits of creating a 501(c)(3) corporation and how to form one, including information relevant to drafting articles, bylaws, and corporate policies; and the steps to take after incorporation.

 

Creating a Foundation, Part II

Duration:  28 minutes

Content includes the basics of federal tax exemption, how to maintain corporations in good standing, items to consider when reactivating a dormant organization, and guidelines for operating two separate but affiliated organizations with different exempt statuses.

Also included in the course is a process document including a checklist of items to consider when forming a 501(c)(3) organization and resources to assist throughout the process. The presentation slides are also available for download, and links to other ACCE resources on chamber foundations are included.

 

 

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