HOW TO START A NON‐PROFIT CHARITABLE TRUST — THE CASE OF TED TURNER CONTRIBUTION TO THE UNITED NATIONS

This paper provides broad guidelines to start a non‐profit organization. Once the non‐profit organization has been legally incorporated, it is crucial that it applies for a tax exemption status. The application is time consuming but worth the effort. Obtaining the status of tax exemption places the organization in an advantageous position and increases its capacity to raise funds for its operations and charitable activities, since the contributions become tax deductible for the donors. A case study is presented in the second segment of this paper. In September 1997, businessman and philanthropist Ted Turner donated 1 billion dollars to the United Nations. The creation and operations of the UN Foundation, (501) (c)(3) established to disburse Turner's funds to the United Nations, are also covered in this research.