Private foundation
A private foundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes.
Chart of a foundation | |
| Type | Charitable organization |
|---|---|
Unlike a charitable foundation, a private foundation does not generally solicit funds from the public or have the legal requirements and reporting responsibilities of a registered non-profit or charitable foundation. Not all foundations engage in philanthropy; some private foundations are used for estate planning purposes.
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