I am the Entertainment Tycoon

Chapter 598: Steps to Create a Charity Organization



"I would say that we indeed are ready to start operations, but we still have some steps to complete before we can start investing money in helping others." Sam replied.

Theo had a confused face as he heard that, so he asked, "How so?"

"Let me explain to you the steps to create a charity organization, after I finish this explanation you'll understand why." Sam commented with a calm voice.

"Ok." Theo simply replied as he waited for her explanation.

"Creating a charity organization involves several important steps to establish a legal and operational framework." Sam started, "The first step is to define the organization's mission and purpose. We have to identify the cause or issue we want to address through the charity organization. Consequently, we also have to clearly define our mission, goals, and objectives. Determine the target beneficiaries or communities we aim to serve."

"But I was inexperienced doing this kind of task. So, I skipped this first step and first searched for qualified professionals with experience in charity organizations. After a long search, we managed to recruit individuals who share the same charity passion. They have relevant expertise in the nonprofit sector or the cause you aim to address. After I explained to them what our purpose was, they gladly accepted our offer to be part of the board of directors of the charity organization. Obviously, they were only hired after we checked their past deeds several times, and we confirmed that their past is clean. With these new employees, we established a diverse board of directors who can provide strategic guidance, governance, and oversight for the organization."

"The board of directors started working at the start of this week. My team rented a three- story building close to the Umbrella Corporation Office to serve as the Headquarters of the charity organization." Sam informed.

"With their ample experience, they started working on the first step that I just spoke about. But at the same time, they are working on the second step as well."

"The second step is Research and Planning. They will conduct thorough research on the issue or cause we want to address.

Also, they will assess the existing charitable organizations working in the same field. With this information, they will identify gaps or areas where our organization can make a unique contribution. Finally, they will develop a strategic plan that outlines the charity organization's structure, programs, and funding strategies.

"With their ample experience in the field, this group of people will be able to accomplish these tasks much better than my team could ever do. Plus, I told them what you told me, and they said they will focus their research and operations on orphanages and poor countries." Sam said as she looked at him.

Theo let out a happy smile when he heard that. He was happy that he would be able to put smiles on the children in those orphanages.

"While the board of directors from the charity organization works on their tasks, my team is busy as well. The Legal Department of the Umbrella Corporation is taking care of an important step. They are formulating the Legal Structure and Registration of the charity organization. They will determine the legal structure that best suits the organization, such as a nonprofit corporation, charitable trust, or association. Our experienced attorneys and legal experts will ensure that the organization will comply with the local laws and regulations. And finally, they will register the charity organization with the appropriate government agencies, such as the Charity Commission or Department of Nonprofits." Sam explained what her legal team was doing.

Theo nodded as he started to understand why Sam said that at the beginning.

"Meanwhile, the Umbrella Corporation's Human Resources Department is also working hard as I gave them an important task. They are developing the Governing Documents of the charity organization. Basically, they are preparing the necessary governing documents, such as articles of incorporation, bylaws, and a code of ethics. These documents outline the organization's purpose, governance structure, operational procedures, and decision-making processes."

"Additionally, my team and the HR department are working to establish policies and Procedures. We are developing policies and procedures that govern the operations and management of the organization. Including policies related to finances, board governance, hiring practices, conflict of interest, volunteer management, and program implementation." "Finally, I contacted the government office to obtain tax-exemption status for the charity organization. I already obtained their answer, and they told me that we'll be able to receive the status next week at the latest."

"There are a few other steps, but the charity organization that you plan to create doesn't need them. For example, fundraising is no problem as you told me that you planned to be the sole donor. Also..." Sam proceeded to explain a few other steps that were not needed for the charity organization Theo was planning to create.

"At our current pace, I predict that we'll be able to start the operation of the charity organization in the last week of this month." Sam explained, "It is only then that you'll be able to invest your money."

Theo was genuinely surprised that there were so many steps to put a charity organization into motion, but it seemed like he was somewhat naive.

The government wouldn't allow a tax-exemption status easily, just this step was super complicated. And it was only with Sam's super efficiency that she was able to get the status in only one month.

'It seems I'll have to wait a few weeks to invest money to help those orphanages.' Theo thought to himself.

"Any questions?" She suddenly asked.

"Yes, I do." Theo replied.

"What are the current projects, plans, and strategies that the board of directors have? What about the governing structure of the organization? What's the current chosen structure? Any particular bylaws? What are..." Theo proceeded to ask a multitude of questions about the organization's structure, bylaws, and plans.

Sam started to have a headache as she listened to Theo asking so many questions. Due to the fact that she gave some of the tasks to other teams, she wasn't aware of everything. Consequently, she wasn't able to answer half of the questions that Theo was asking.

"It seems I'll have to call some people to answer your question." Sam said as she wryly

laughed.

Theo replied with a wry smile as well.

Sam promptly asked her assistant to have the persons in charge of the HR Department, Legal Department, and Board of Directors have a video conference immediately.

Just like that, 5 minutes later, three people appeared on the screen in front of Theo and Sam.

"Good afternoon, everyone." Sam greeted them, "This one beside me is my boss, and he has some questions for the three of you."

When the three people heard that, they were shocked.

They were finally meeting the mysterious boss!

"Good afternoon, boss!" The three of them promptly greeted them when they heard that.

"Good afternoon, everyone." Theo said with a smile, "Miao-san, you are the represent the board of directors, am I right?"

The middle-aged woman promptly replied, "Yes."

"I would like to know..." Theo proceeded to ask a multitude of questions to the three of them.

In such a way, they spent the next hour discussing what Theo wanted to implement in the charity organization.