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What is a foundation?
A foundation is a non-governmental, nonprofit organization, with funds and programs managed by its own trustees or directors, established to aid social, educational, charitable, religious, or other activities serving the common welfare, primarily through the making of grants.
The Foundation Center defines a private foundation as a non-profit, non-governmental organization with a principal fund or endowment of its own. A private foundation derives its money from a family, an individual, or a corporation. An example is the Ford Foundation. This is in contrast to public charities, which may give grants but which derive their support from various members of the public. An example is the Ms. Foundation for Women.
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