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Foundation for Hyperinsulinism and Diabetes?
by Chica MAP, Sep 20, 2007 12:00AM
I am trying to start a Foundation to help people with Hyperinsulinism and Diabetes . I don't know how. any information on how to get to the point where I can take donations for this purpose and save them in a an account would be helpful. as well as how to send funds where they are needed to help people with these problems.
Doctor's Answer
by Forum-Volunteer-CDB, Sep 20, 2007 12:00AM
Hi there,
You are admirable in your desire to make a difference. But starting a foundation may not be the best way to go, unless you have a big pile of money. A foundation is typically launched with a large donation from an individual or organization. A lawyer is needed to set it up as a legal nonprofit entity, depending on your state's laws. A nonprofit fundraising organization can seek donations, once it is legally incorporated, but usually a foundation does not seek donations-- it has already been 'founded' (funded') by a wealthy benefactor. The capital is never touched-- the foundation does its good work with just the income from the invested capital in the foundation.
You could look into forming a nonprofit organization devoted to helping people with these health issues. You'd need to have a strong relationship with doctors/health-care providers who are addressing the diseases, decide whether funds would go to research or treatment, set up a legal entity, etc. etc.
If you're serious about this I would suggest starting by finding an attorney who specializes in incorporating nonprofits and find out what's involved in your state.
Good luck to you.
You are admirable in your desire to make a difference. But starting a foundation may not be the best way to go, unless you have a big pile of money. A foundation is typically launched with a large donation from an individual or organization. A lawyer is needed to set it up as a legal nonprofit entity, depending on your state's laws. A nonprofit fundraising organization can seek donations, once it is legally incorporated, but usually a foundation does not seek donations-- it has already been 'founded' (funded') by a wealthy benefactor. The capital is never touched-- the foundation does its good work with just the income from the invested capital in the foundation.
You could look into forming a nonprofit organization devoted to helping people with these health issues. You'd need to have a strong relationship with doctors/health-care providers who are addressing the diseases, decide whether funds would go to research or treatment, set up a legal entity, etc. etc.
If you're serious about this I would suggest starting by finding an attorney who specializes in incorporating nonprofits and find out what's involved in your state.
Good luck to you.
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