Nonprofit

15 January 2019

To create a scholarship fund, it seems to be necessary to have a non-profit trust. There are certain rules for creating a nonprofit, and there are plenty of resources that walk those interested through the steps. There are some choices to be made, like mission, name, board of directors, etc., that will be included in future entries here.

17 January 2019

The steps outlined at usa.gov are:

A name should represent the mission of the organization and a good name is supported by the board of directors. The board should include members with ties to Ashland and members who reside in Ashland. I'm thinking a trust is the best route, but need to look further into it. Once these are done, the paperwork can be filed. I think the articles of incorporation can actually be filed before a board is determined, but I need to look into it more.

20 January 2019

I think this organization would be classified as a charitable or religious organization (501(c)3).

Association vs Trust vs Corporation?

Wisconsin Specific Requirements for 501(c)(3)

Other Wisconsin Specific Resources: