What are the costs associated with starting a foundation? Foundation startup costs are minimal.  They can be raised through corporate or individual tax deductible donations -- incurring no personal cost to you. How long does it take to start the foundation? Coaching Charities begins the process immediately upon your approval. State incorporation is completed within 30 days and IRS notification is received within 12 months. However, the day you officially sign with Coaching Charities is the day the foundation can begin operations, receive donations and award grants. What is the difference between a public and private foundation? Per Internal Revenue Service Code 501(c)(3), public foundations are tax-exempt organizations that receive donations from the general population and make grants to varying causes. Private foundations have a principal fund that is managed by its own trustees, have a single funding source, do not solicit donations from the public and make grants to other nonprofit organizations. Your foundation will be public. What charitable standards must public foundations adhere to? Due to the diversity of non-profit organizations and their causes, laws pertaining to charitable giving are broad. Coaching Charities has established our own Standards of Excellence for Public Charitable Foundations, which meet or in many cases exceed the guidelines created by the Better Business Bureau Wise Giving Alliance, Internal Revenue Service and The Board Source.