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

双语律师Matthew，国际知名法学院法律专业，擅长翻译各类与商业秘密起诉与调查相关的法律文件。