Legal Question in Business Law in Texas

Re: Establishing Endowment Fund

You set up a business entity with licenses and accounts and file with the IRS for non-profit status. You also get a website and protect it from theft and abuse, as well as your service mark(s). Then you create legal content on your site explaining why you're asking for money, and you make sure you follow proper procedures ensuring that money donated is properly held and spent; so you won't be accused of a crime like fraud. My firm focuses on Internet and entertainment law.

Re: Establishing Endowment Fund

First, hire a lawyer. Second, hire a CPA. They'll keep you on the proper path.