A charity foundation of your own

When you have cash, which seems to be more than what you require you often sit a while thinking of ways in which you could use it effectively. If such funds fall into irresponsible characters, then it will go in vain. On the other hand, if it falls unto people who are wise investors, the cash is bound to be spend appropriately. However, in which ever state you are in, the way the cash is spent will depend on the mindset that you possess. If you are a person that wishes to give back to society, then you may share it with the needy. If not, you will use it to satisfy your material needs such as leisure activities, hobbies etc.

Learning from the existing foundations

There are many foundations that are functioning in the society at present. Most done by wealthy families, and others done by individuals pooling in cash to help society. The mere intention of serving the less fortunate would have its pros and cons. For instance, it is not easy starting up a foundation. There are requirements needed by the local authorities and you need to find the exact path and purpose of your service. In other words, you need to find the target community that you wish to serve. It is a quite timely and troublesome task. at the end of the day, you need to make sure that your cash is utilized by people who most need it. You could review a few foundations functioning in your area.  For instance, if you live in Asia, you would be familiar with the Dawood family foundation. Currently it is headed by bashir Dawood who happens to be a descendent. They fund various types of reliefs. Disaster, educational sector, professional aspects etc.

Motivating your subordinates

Regular coordination of a foundation is vital. Since these are non-profit organizations, they are not stringent on the financial procedures. However, if it is your cash that is being used, it is important to take measures to see if it is being allocated properly. You may hire certain individuals to coordinate the activities. In such cases you need to build their mindset with the real purpose of being a part of this foundation. Especially since it does not have a source of external revenue.

Therefore, when planning on starting up tour own foundation, it is best to look to all the successful foundations functioning in the society at present. You may be able to obtain the necessary expertise and ideas on methods of functioning it well.

 

 

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