My client is in the process of forming a school but due to having to jump through NYS Education Department approval before being formed, the corporation has not yet been approved. Client would want to be able to raise funds so our idea is to form a charity just to get in donations that will go to Jewish Education - namely the new school if it gets off the ground, but if not funds will be distributed to other tax deductible schools.
Will the IRS approve the 1023? Is there an issue if the board of directors will be identical /near identical between the "fund raising organization" and the school. Which type of 501 or 509 should i choose and what other advice can you give. I am willing to pay for a useful consult for someone who has the correct answers quickly
Marvin Gruza CPA