private foundation

A charitable organization that is funded by a single source, derives its income from investments rather than contributions, and makes grants to other charitable organizations.

• A private foundation is generally exempt from taxation. IRC (26 USCA) § 509.

— Also termed private nonoperating foundation.

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词条贡献者

资深译员Ting，世界知名语言学院法律英语专业，专注翻译各种与专业责任纠纷有关的法律文件。