Charitable foundation
I want to start a foundation that can give small scholarships and educational grants to inner city kids. How do I make this tax deductible? I am in NJ. My family will be the donors.
Re: Charitable foundation
As long as you declare it non-profitable, you should be exempted from tax. But I would advise you to directly contact a lawyer from New Jersey to handle formalities on your behalf & avoid any pitfalls that might prove costly later on!
If you wish we can refer you to one of our affiliates.
