A private foundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes. Unlike a charitable foundation, a private foundation generally does not solicit funds from the public or have the legal requirements and reporting responsibilities of a registered non-profit or charitable foundation.
A private foundation is a tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes. Unlike a charitable foundation, a private foundation generally does not solicit funds from the public or have the legal requirements and reporting responsibilities of a registered non-profit or charitable foundation.
Source: Wikipedia "Private foundation" · CC BY-SA 4.0
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