Law Dictionary

private foundation

noun

Legal Definition of private foundation

  1. :  a tax-exempt foundation operated exclusively for humanitarian (as religious, charitable, educational, or scientific) purposes whose earnings do not benefit any private individual and which does not participate in or carry on any political propaganda or campaign — compare charity


Seen and Heard

What made you want to look up private foundation? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

a rounded knoll or a ridge of ice

Get Word of the Day daily email!