private foundation

private foundation
private foundation n: 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

Merriam-Webster’s Dictionary of Law. . 1996.

private foundation
n.
A charitable or educational organization run by a private group, not by the government.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

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