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| Question:
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What is a private foundation? |
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| Answer: |
According to The Foundation Center, a private foundation is a nongovernmental, nonproift organization having a principal fund
managed by its own trustees or director. Generally a private foundation is a fund of private wealth established for charitable purposes.
The principle function of most private foundations is to make grants to other nonprofit organizations, qualified individuals and
government entities. |
| Additional Information : |
http://www.irs.gov/charities/charitable/article/0,,id=96114,00.html |
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