Legal Question in Tax Law in California

How do I start a research funds program?

I would like to set up a legitimate ''charity'' foundation to gather donations from people for medical research programs.

I believe I have an innovative idea that will get people excited about contributing and I want to set up something small and manageable that is legally able to collect donations for medical research funding.

Currently I have no clue on where I need to start and what I need to do, please advise.

Thank you


Asked on 2/16/09, 3:17 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: How do I start a research funds program?

The laws regarding charitable solicitation in California are very strict and complicated. So are the procedures for establishing a tax-exempt entity. Unfortunately you would need to retain a law firm that focuses on setting up and advising tax-exempt charitable entities, and it won't be cheap. You might (or might not) also be well advised to set up your entity outside California. For more information, visit the California Attorney General's web site.

Read more
Answered on 2/16/09, 3:23 pm


Related Questions & Answers

More Tax and Taxation Law questions and answers in California