private foundation


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Noun1.private foundation - a charity that does not receive a major part of its support from the public
charity - a foundation created to promote the public good (not for assistance to any particular individuals)
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References in classic literature ?
I cannot but think, with a view to the principle and its tendency to elevate or depress the character of the industrious classes, that a Public Charity is immeasurably better than a Private Foundation, no matter how munificently the latter may be endowed.
More particularly, the so-called self-dealing rules prohibit almost all direct and indirect transactions between a private foundation (which hereinafter includes charitable lead trusts, as they are subject to the self-dealing rules under Sec.
However, the termination tax can be avoided by transferring the foundation's net assets to an allowable public charity, donor-advised fund or another private foundation.
A private foundation is a not-for-profit organization established by an individual charitable donor that operates as either a trust or a corporation.
With government funding drying up, a local private foundation has gathered donations to buy 485 acres in the Verdugo Mountains for public open space.
A private foundation (also sometimes called a "family foundation") is a charitable organization created, funded, and usually controlled by a single donor or by members of the donor's family.
The CHS Foundation has named Jennifer Thatcher as the new manager of the CHS Foundation, an independent, private foundation affiliated with CHS Inc.
The group also called on Congress to rededicate revenue from the private foundation excise tax for the strengthened oversight and reaffirmed its support for simplifying and reducing the excise tax from a complex variable rate to a consistent 1 percent of private foundation investment income, a move the organization says will free up "potentially more than $140 million" for foundation grant making.
Daniel McKinley is executive director of the Milwaukee-based Partners Advancing Values in Education, a private foundation whose mission is to "make excellent educational opportunities available to low-income families in Milwaukee.
In their situation, a private foundation may provide a great deal of tax relief"
This Article addresses the need for a more comprehensive regulatory scheme of Australia's nonprofit organizations, particularly its private foundation type structures.
In response to a specific COF request, the IRS has now confirmed that the regulations do not require this initial determination of a potential grantee's charitable status before a private foundation undertakes expenditure responsibility.

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