Private foundations can support a wide range of charitable activities, including but not limited to education, health, poverty alleviation, arts and culture, environmental conservation, and scientific research. The specific focus areas are determined by the foundation's mission and goals.
| Aspect | Public Charities | Private Foundations |
| Definition | Tax-exempt 501(c)(3) organizations exist to serve the public good. | Tax-exempt 501(c)(3) organizations exist to serve the public good. |
| Primary Activities | Conduct charitable activities and provide services. May make grants, but not primarily. | Primarily, they make grants to public charities, sometimes conducting their own charitable activities. |
| Source of Financial Support | Derive financial support from the public (individuals, government, corporations, and private foundations) through donations and grants. |
Typically funded by a single individual, family, or corporation. |
| Public Support Requirement | Must prove that most funding comes from public support to maintain tax status. | Self-funded; not required to demonstrate public support, avoiding IRS tests applicable to public charities. |
| Board of Directors Composition | Governed by a diversified board reflective of the constituency served, the majority must not be related by marriage or blood. |
May be governed solely by the donor(s) or a board consisting of family and/or individuals chosen by the donor(s). |
The board of directors is responsible for overseeing the foundation's operations, making strategic decisions, and ensuring compliance with regulations. Board members play a crucial role in defining the foundation's mission, setting policies, and approving grants.
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