public charity

public charity definition - business

public charity

A nonprofit organization, including a hospital, religious organization, or educational institution, that receives the majority of its financial support from a broad segment of the general public. Public charities are exempt from federal income taxes. Compare private foundation.

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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