Changing from a Private Foundation to a Public Charity
So, you started a private foundation. But now that the IRS has approved your nonprofit as a foundation, you’re questioning whether or not that was the right idea. You’re thinking you should have chosen a public charity. Surely you can get the IRS to change that designation, right? The good news is, yes, you can change it. The bad news? Well, this is going to take a while. Let’s dive into this all-too-common scenario and look around.
📚 ADDITIONAL RESOURCES:
•VIDEO: Can a Nonprofit Change its Mission? • Can a Nonprofit Change its Mission?
•VIDEO: Understanding the 501(c)(3) Public Support Test • Understanding the 501(c)(3) Public Su...
•VIDEO: Public Charity vs Private Foundation vs Private Operating Foundation • Public Charity vs. Private Foundation...
•ARTICLE: Public Charity vs. Private Foundation https://www.501c3.org/public-charity-...
🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation on how to start a nonprofit: https://bit.ly/3Tu9nYE
•Register for Fundraising TV: https://www.501c3.org/fundraising-tv/
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” https://bit.ly/3XhFag0
0:00 Introduction
1:05 Two Paths to Convert a Private Foundation to a Public Charity
2:40 Path 1: Reclassifying
5:16 Path 2: Dissolving and Starting a New 501(c)(3)
6:08 Conclusion