private foundation

private foundation definition - business

private foundation

A tax-exempt organization founded with private money to support charitable activities. Nonoperating private foundations make grants to charitable organizations, while operating private foundations distribute funds directly for charitable activities. Compare public charity.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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