private foundation

Definition of "private foundation"
  1. A type of non-profit foundation exempt from income tax that solely performs charitable, religious, educational, or scientific pursuits. Its earnings are not given for private gain, and it abstains from political propaganda or campaigns
How to use "private foundation" in a sentence
  1. The private foundation funded scholarships for needy students to help them continue their education.
  2. The money raised at the charity event was donated to a private foundation dedicated to scientific research.
  3. The organization was recognized as a private foundation, helping them avoid income tax and receive more funding for their religious activities.

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