Any one know how i can establish a foundation ie..for the needy...hungry,school scholarships...etc.?

Question

i'd like to establish one.

Answer 1

You have to open a non-profit company (generally called 503 C company) and register it with the State you are in. Once you get an IRS number, you can ask for contributions or make a contribution yourself on a tax-deductible basis. There are some compliance and reporting requirements, but not too onerous

Answer 2

Gather up all of your money and consult with an attorney.