Toby Mathis
Toby Mathis
9 Benefits Of Establishing A Family Foundation
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In this episode, Toby Mathis, Esq. welcomes Karim Hanafy, Esq., head of Anderson Business Advisors’ Non-Profit Division. Karim and Toby will go over nine benefits of establishing a family foundation, the various tax benefits, and show you how you can get started today.

Karim Hanafy is a nonprofit attorney with over 20 years of experience forming nonprofit organizations, obtaining 501(c)(3) tax-exempt status, advising with ongoing compliance, and assisting with annual tax reporting. Karim previously worked in the Tax Exempt Division at the IRS, and he uses his IRS experience to advise nonprofit organizations on the application process and ongoing compliance.

Highlights/Topics:

  • Karim’s background, the IRS, and journey to Anderson
  • Legacy planning and asset protection
  • Non-profits are not just for the wealthy
  • The list of benefits
  • Annual donation limits – public vs private, cash vs. stock
  • Growing assets ‘tax efficiently’
  • Family can serve as board members
  • Control is maintained by the family
  • Payout requirements – private vs public
  • Working for a foundation after retirement
  • Deferring your salary from a non-profit
  • Avoiding estate taxes
  • Next steps to starting a non-profit
  • Public charity or private foundation?
  • File with the IRS – Karim has been getting approved with lightning speed- 100% of Anderson’s filings are approved
  • Funding the non-profit
  • Contact Anderson Business Advisors or come to our Non-Profit Workshops

Resources:

Karim Hanafy LinkedIn

Start Your Non-Profit in 45 Minutes with Anderson Business Advisors

Sign Up for Anderson’s Non-Profit Workshop

Toby Mathis on YouTube

Full Episode Transcript: 

Toby: Hey, guys. This is Toby Mathis with the Anderson Business Advisors Podcast. Today, I have Karim Hanafy on. Karim, welcome first off.

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