Is it reasonable to be poor and want to start a foundation?

Question

Or do only wealthy people can do that?

Where could I find more information about the requirements to start a foundation?

Answer 1

It is absolutely reasonable and very common. Who better knows what is needed to help others than someone who comes from poverty? Many people when they come from poverty and become successful give back to their communities by starting foundations and organizations to help other people come out. My uncle started a youth center and built a park in his old neighborhood and is working on other ventures. My mother recently got her non profit licensing and is now working on starting an organization herself; I am going to help her write her grant proposals. First of all you need to come up with a business plan, get non profit licensing, and then learn how to write grant proposals. Being non profit, Govt grants and private donations are what you will need to start your foundation or organization. Once you get your stuff in order businesses and wealthy individuals will be more than eager to make donations ( good PR and tax breaks for them). It is a very doable thing but it is a process that requires a lot of dedication. Read some of the links below for information on how to get started.

BTW non profit doesn't mean you don't get paid; it just means you don't charge for your services. You just write yourself and your staff reasonable salaries out of the money the foundation makes.

Answer 2

I admire you for wanting to do this. Money shouldn't control your life. If you want to start a foundation, then start one. Unfortunately, I don't know where to find the requirements. Sorry.

Answer 3

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Answer 4

Yes as long as you have the guts and ability.
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