Contact us now at dubaibusinesssetup.ae for a free consultant! Family Foundations. Establishing a family foundation can be a rewarding way of contributing to society and exercising full control over the process. A family foundation is a charitable organisation that is supported and controlled by a family whereby the members of the family can participate in the charitable activities that are of interest to them. Here is a step-by-step guide to creating a family foundation and the pros and cons of this form of philanthropy. A family foundation is a type of foundation that is formed as a legal entity for the purpose of administering assets for charitable causes. These foundations can be established to support one or several causes, such as education, health, environment or social causes.
Easy Steps to Start a Family Foundation There are several important procedures that must be followed in order to create a family foundation and make it function effectively. Define Your Mission and Objectives Create a Strategic Plan Pick a Legal Structure Choose a Board of Directors.