How do you start a scholarship fund?

How do you start a charity?

• Last week my colleagues and I each pitched in some money to play the lottery. we were asking each other whatwe'd do with the money if we won. I said I'd keep a fourth for myself and use the other 3/4s to start 3 charities. Although I didn't win the lottery I kinda still want to start the 3 charities. One is a scholarship, the other is a research fund, the other is a pediatric charity. The problem is I need $10 million to start each charity. I was going to put the money in a high yield savings account or buy bonds and whatever interest is received will be the money that goes to the cause. that way I can still give even after I'm long dead. Since no one is going to write such a huge check without proof how do you start a charity? I know there's some registration you have to do to make it tax exemptable. what do I have to do?

• Answer:

  My View on this is to use the phone and ring around to other Chair ties. Ask questions,Do surveys on what people want and need. Good Luck