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The success of a newly created foundation depends on having a clearly designed plan of action. Clay et. al. (1985) suggest several basic steps:
- organize
a planning committee
- undertake
the needs assessment
- establish
a strategy
- undertake
a feasibility study
- establish
goals and objectives
- establish
an operating budget
- prepare
a planning document
During the initial meetings it is important for the founder of the foundation to decide on the frequency of meetings, as well as on a definite agenda for the following meetings.
Mancuso (2002) suggests the following steps in establishing a nonprofit foundation:
- Contact the Secretary of State.
Nonprofit incorporation materials can be obtained from your Secretary of State.
- Choose a name and submit it to the Secretary of State.
The Secretary of State will validate or not the name you chose.
- Prepare articles of incorporation
The articles of incorporation specify the name of the corporation, the registered agent and office, statements of purpose, the number, names and address of initial directors, names and address of incorporators, the duration of the corporation, membership provisions, and additional provisions.
- File your articles of incorporation with the Secretary of State.
- Prepare bylaws.
The bylaws are articles that regard the operation of the foundation
Resources
Clay, K., Hughes, K.S., Seely, J.G. & Thayer, A.N. (1989). Public school foundations:
Their organization and operation. Arlington, VA: Educational Research Service.
Mancuso, A. (2002). How to form a nonprofit corporation (5th ed.). Berkeley, CA:
Nolo.
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