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Foundations, Non-profit Organizations, Etc.


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FYI, if you set it up in the Philippines, people donating in the US can't avail of the income tax deduction. For small amounts, not a problem, but with larger amounts or even corporate donations, it would be an issue. Why? Because only donations to US organizations can be deducted.

 

I'm in the midst of forming a missions group in the US so that all donations to the organization are tax deductible and the missions group can disburse to the various projects that are in need of funding.

 

Paperwork for a missions group? Form it as a non-profit LLC and if it's purpose is as a missions group or church, it is automatically 501c3 without needing ask for permission from the IRS.

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Bob Ward
FYI, if you set it up in the Philippines, people donating in the US can't avail of the income tax deduction. For small amounts, not a problem, but with larger amounts or even corporate donations, it would be an issue. Why? Because only donations to US organizations can be deducted.

 

I'm in the midst of forming a missions group in the US so that all donations to the organization are tax deductible and the missions group can disburse to the various projects that are in need of funding.

 

Paperwork for a missions group? Form it as a non-profit LLC and if it's purpose is as a missions group or church, it is automatically 501c3 without needing ask for permission from the IRS.

 

Good information and foresight.

 

But I do not think that the amounts we will be garnering will tip anyone's taxes enough to worry about. Not to mention, for the average tax return in the US, the standard deductions are better than using an itemized schedule anyway.

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Greetings!

 

I visit to SEC office yesterday:

 

Living In Cebu Charities is no longer available name, something similar was already registered,

 

I opted to Living in Cebu for Children's Charities...it's available and I have it reserved, paid 40 pesos for reservation. Name verification need to pay 210. ( I did it online but still you have to pay them if you will finally decide to use the name)

 

For the meantime, I would suggest that to start working with the papers on Monday. When the SEC and BIR thing will be finished, maybe that's the time the you guys there in Cebu and online members will have a meeting for the proper election of the Board of Directors with respective positions

 

For the purpose of the registration and other government papers, I could stand in your behalf if you will allow me...all documnets will be submitted to you there in Cebu being the Head Office.

I need the following to be filled up for BIR and SEC purpose:

 

Chairman

Vice Chairman for Intenal Affairs

Vice Chair for External Affairs

Executive Secretary

Treasurer

Auditor

 

Vision.Mission...please think

Objectives:

 

1. For the Expats to be directly involved in reaching out to the communities where they are currently located through Sports and Livelihood Trainings for street children. (?)

2. To provide Scholarhip for poor but deserving students.

3. To support the Special Educaton Program for the Special Children. ( I hope to chair this committee being a mother of a 12 year old autistic boy)

4.....

5.....

6. To work hand in hand with Embassies on their various programs enhancing the life of the Filipino people

7.

 

Think Think Think...and work later guys!

CHEERS!

 

I hope to hear the final word from Paul because he owns this website. Thanks Practically he is the BOSS! CHEERS! :crack-up:

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Tweety, I'm waiting for one party to show up at the house now, who would be asked to be on the board.

 

Also, I'm not the boss, only someone trying to start something to help others who are less fortunate than we are.

 

I have 2 confirmed so far.

 

I truly, TRULY appreciate the efforts you are putting into this.

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I'll say one thing Tweety,

 

No moss grows on your feet, thats for sure. I can tell already, when you go after something, you go whole heartedly...

 

Margie and I are waiting in the wings to help out in any way we can. When the time comes for monetary help, PM us the info needed to send some helping funds.

 

We will need quidence thru this adventure, but willing to learn and do our best to work with you all and to help others in need.

 

Sincerely,

 

Ned and Margie Lessor

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Aerosick

Paul, Tweety, All,

 

Will you need a physical address for Living in Cebu for Children's Charities? Somewhere there's always someone to take delivery of Balikbayan Boxes.

 

Probably not critical at this time though...

 

Billy

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Paul,

 

Yes, I will wait for your names...hope they are Filipinos for the 60-40 government requirement.

To expedite the application, I will stand for you as chair but after everything it is up to you to lead for the conference in Cebu. You need to elect among yourselves who will be the Officers in the Board of Directors. I will make the required board resolution to that effect for you there in Cebu to open the Bank Account, should be first thing to be done after the election.

Please take a look at the objectives that I gave because as previous experienced, the objectives MUST COLLABORATE with whatever projects/committees, the organization will handle. Any amendment later, will almost be the same procedure in applying for the registration.

You need to be the Boss here because after the registration I will only handle a committee, and maybe will volunteer as the Secretary...someone in Cebu must lead.

:crack-up::D:D

 

Ned/ Margie,

 

You've been offering me in your PM financial help for the organization to be able to start. So here it is; For the meantime, I need 5 thou for the application in SEC and BIR and hopefully 2 booklets of Official Receipt of the organization. If it is ok for you, i will accept it...anyway, I will send also the ORs to be able to liquidate it because it will be then considered as income of the organization already...still need the gren light from LINC guys though.

 

Billy,

 

Yes there should be a physical address and should be in Cebu. I will be using my own address, again just for government purposes...it's up to the Cebu guys again...

 

CHEERS!

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Paul,

 

Yes, I will wait for your names...hope they are Filipinos for the 60-40 government requirement.

To expedite the application, I will stand for you as chair but after everything it is up to you to lead for the conference in Cebu. You need to elect among yourselves who will be the Officers in the Board of Directors. I will make the required board resolution to that effect for you there in Cebu to open the Bank Account, should be first thing to be done after the election.

Please take a look at the objectives that I gave because as previous experienced, the objectives MUST COLLABORATE with whatever projects/committees, the organization will handle. Any amendment later, will almost be the same procedure in applying for the registration.

You need to be the Boss here because after the registration I will only handle a committee, and maybe will volunteer as the Secretary...someone in Cebu must lead.

:crack-up::D:D

 

Ned/ Margie,

 

You've been offering me in your PM financial help for the organization to be able to start. So here it is; For the meantime, I need 5 thou for the application in SEC and BIR and hopefully 2 booklets of Official Receipt of the organization. If it is ok for you, i will accept it...anyway, I will send also the ORs to be able to liquidate it because it will be then considered as income of the organization already...still need the gren light from LINC guys though.

 

Billy,

 

Yes there should be a physical address and should be in Cebu. I will be using my own address, again just for government purposes...it's up to the Cebu guys again...

 

CHEERS!

Tweety,

 

Margie and I would like to start by donating $120.00 USD....Once you and the LINC guys give the green light, I think best if you just give us a western union contact....Office and recipients name. It will be our pleasure to help get this group off the ground...

 

Sincerely,

 

Ned and Margie......

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My God, man! That would pay for the first year's costs to do this, according to what Tweety posted!!

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My God, man! That would pay for the first year's costs to do this, according to what Tweety posted!!

 

 

Well then Paul, get off your butt and lets get those in need some help... :crack-up:

 

Just one less thing you and all of us have to worry about.....

 

 

I still haven't forgotten the way this group helped Hansie, when he was in need, just another way for us to show how gratfull we are.

 

Friends help Friends.......At least that the way i was brought up...

 

Our Pleasure,

 

Ned and Margie

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Well then Paul, get off your butt and lets get those in need some help... :crack-up:

 

Just one less thing you and all of us have to worry about.....

I still haven't forgotten the way this group helped Hansie, when he was in need, just another way for us to show how gratfull we are.

 

Friends help Friends.......At least that the way i was brought up...

 

Our Pleasure,

 

Ned and Margie

 

That's what we are supposed to do, Ned, help each other. I am always happy to do it.

 

I don't know if Tweety PM'ed you or not, but I will forward it on to you. I will be out of town for a couple of days, starting early tomorrow morning. But, I should be back Monday night or Tuesday morning.

 

Stay tuned, PM comin' your way.

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Please take a look of my attempt to formulate the articles and by-laws of incorporation so that at least you will have an idea of what i will be doing...thank you for this opportunity to serve!

 

CORRECTION:

 

Living in Cebu Children's Charities, Inc, instead of Living in Cebu for Children's Charities, Inc...my husband is adamant that I should make it clear... :thumbsup:

 

 

LCCCI_sample_of_the_article_and_by_laws.doc

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Aerosick
Please take a look of my attempt to formulate the articles and by-laws of incorporation so that at least you will have an idea of what i will be doing...thank you for this opportunity to serve!

 

CORRECTION:

 

Living in Cebu Children's Charities, Inc, instead of Living in Cebu for Children's Charities, Inc...my husband is adamant that I should make it clear... :dreams:

LCCCI_sample_of_the_article_and_by_laws.doc

 

Tweety,

 

Looking good so far! If you hadn't killed and cooked the chicken, we would have had a Mascot...

 

:thumbsup:

 

Serious now: Will we be "Inc." or "LLC" or "NPO"? Here's some good reading for all Members:

 

http://usig.org/countryinfo/phillipines.asp

 

Billy

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Tweety,

 

Looking good so far! If you hadn't killed and cooked the chicken, we would have had a Mascot...

 

:dreams:

 

Serious now: Will we be "Inc." or "LLC" or "NPO"? Here's some good reading for all Members:

 

http://usig.org/countryinfo/phillipines.asp

 

Billy

 

 

Billy,

 

Thanks for the site...it will be very helpful in the future...

Yes, it will Inc., (as in Incorporated)

I don't know what do you mean LLC... :thumbsup:

If NPO means Non Profit Organization, yes.

Actually it would be functioning as a NGO(Non Government Organization) and a charitable organization.

I can't attach the word Foundation because there's another requirement by SEC, which is the 1M Certificate of Bank deposit.

 

I raise the chicken in my farm in preparation for the big event, don't know yet what it will be! :dreams:

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Aerosick
Billy,

 

Thanks for the site...it will be very helpful in the future...

Yes, it will Inc., (as in Incorporated)

I don't know what do you mean LLC... :thumbsup:

If NPO means Non Profit Organization, yes.

Actually it would be functioning as a NGO(Non Government Organization) and a charitable organization.

I can't attach the word Foundation because there's another requirement by SEC, which is the 1M Certificate of Bank deposit.

 

I raise the chicken in my farm in preparation for the big event, don't know yet what it will be! :dreams:

 

Limited Liability Company (LLC)

 

"Company that provides its members the benefits of both a corporation and a partnership. Similar to a corporation, an LLC offers limited liability to its members. However, taxation for an LLC is passed to the individual owners of the LLC and corporate income tax is not paid.

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