If you are asking that question I highly recommend you get some professional guidance. Did you file the proper paperwork with the IRS to get your exemption yet?
https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-501c3-orga...
https://www.irs.gov/charities-non-profits/private-foundations/life-cycle-of-a-private-foundation-sta...
