I’m supposed to meet with our attorney and CPA tomorrow morning for our annual corporate meetings. While we’re talking about all of our structures anyway, I figured we should talk about our next steps in terms of legacy planning. What should we do, for example, with the 501(c)(3) proposal or alternatives (like the Christian Foundation of the Triangle LLC Wrapper concept)?

Last week I contacted the attorney at National Christian Foundation who has been assigned as our primary contact and asked her if she might help me prepare for tomorrow’s meeting by giving me insights into the kind of idea she has (or NCF has) that might replace J____’s 501(c)(3) proposal.

I just received her reply. Sounds interesting! Read the rest of this entry »

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Since I had his ear anyway, while talking with the serial entrepreneur at lunch, I asked him about our legacy planner’s 501(c)(3) proposal.

He didn’t like the idea. From a governance perspective, he didn’t like the idea. Having to report everything the way a 501(c)(3) is required to report it on the standard form 990: that doesn’t look too attractive, either. “But, honestly,” he said, “I really haven’t looked into the 501(c)(3) idea. . . . Your legacy planner probably knows something I don’t.

“However,” he continued, “you may want to talk with _______ of the National Christian Foundation. NCF has something I’ve heard about. Read the rest of this entry »