private foundation |
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Definition
Non-governmental, not-for-profit organization having a capital fund of its own, contributed and managed by its trustees or directors. Its objectives usually include aiding or maintenance of charitable, educational, religious, or social activities in service of the community. Private foundations are generally more carefully monitored and pay more taxes than public foundations.
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private foundation is in the Corporate, Commercial, & General Law subject.
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http://www.businessdictionary.com/definition/private-foundation.html







