A private foundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes.[1][2][3]
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.[4] Not all foundations engage in philanthropy; some private foundations are used for estate planning purposes.
^"private foundation". merriam-webster.com. Encyclopædia Britannica. Retrieved October 14, 2022.
^"Private Foundations". irs.gov. United States Department of the Treasury. Retrieved October 14, 2022.
A privatefoundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes. Unlike...
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