About: Private foundation (United States)

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Until 1969, the term private foundation was not defined in the United States Internal Revenue Code. Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category such as public charity. Unlike nonprofit corporations classified as a public charity, private foundations in the United States are subject to a 1.39% excise tax or endowment tax on any net investment income.

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rdfs:label	Private foundation (United States) (en)
rdfs:comment	Until 1969, the term private foundation was not defined in the United States Internal Revenue Code. Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category such as public charity. Unlike nonprofit corporations classified as a public charity, private foundations in the United States are subject to a 1.39% excise tax or endowment tax on any net investment income. (en)
rdfs:seeAlso	Reform Financial endowment
dcterms:subject	Taxation in the United States 501(c)(3) organizations Foundations based in the United States
Wikipage page ID	13439818 (xsd:integer)
Wikipage revision ID	1123077669 (xsd:integer)
Link from a Wikipage to another Wikipage	Carnegie Endowment for International Peace Rockefeller Foundation Endowment tax Bill and Melinda Gates Foundation Taxation in the United States The Wall Street Journal 501(c)(3) organizations 501(c)(3) Foundation (United States law) Foundation (nonprofit) Foundation Center Private foundation Foundations based in the United States Tax Reform Act of 1969 Financial endowment Public charity List of wealthiest charitable foundations Philanthropy Getty Trust United States Internal Revenue Code
Link from a Wikipage to an external page	http://www.natlawreview.com/article/choosing-right-charitable-vehicle-comparison-private-foundations-supporting-organiza http://www.exponentphilanthropy.org/resources/frequently-asked-questions/starting-up http://www.exponentphilanthropy.org/forms/store/ProductFormPublic/search%3Faction=1&Product_productNumber=1015 https://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Private-Foundations https://www.irs.gov/charities/foundations/index.html
sameAs	Private foundation (United States) Private foundation (United States) Private foundation (United States) Private foundation (United States)
dbp:wikiPageUsesTemplate	dbt:Citation_needed dbt:Reflist dbt:See_also dbt:Short_description
has abstract	Until 1969, the term private foundation was not defined in the United States Internal Revenue Code. Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category such as public charity. Unlike nonprofit corporations classified as a public charity, private foundations in the United States are subject to a 1.39% excise tax or endowment tax on any net investment income. The US-based Foundation Center uses a more specific definition of private foundation which hinges in part on the existence of an endowment: a private foundation is a nongovernmental, nonprofit organization, which has a principal fund managed by its own trustees or directors. Hopkins (2013) listed four characteristics that make up a private foundation, also including an endowment as a condition for private foundations: * It is a charitable organization and thus subject to the rules applicable to charities generally; * Its financial support came from one source, usually an individual, family, or company; * Its annual expenditures are funded out of earnings from an endowment or investment assets, rather than from an ongoing flow of contributions; * It makes grants to other organizations for charitable purposes, rather than to its own programs. (en)
prov:wasDerivedFrom	wikipedia-en:Private_foundation_(United_States)?oldid=1123077669&ns=0
page length (characters) of wiki page	15467 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Private_foundation_(United_States)
is Link from a Wikipage to another Wikipage of	Captain Planet and the Planeteers Casey Family Programs List of legal entity types by country Richard Dawkins Foundation for Reason and Science Donor intent Dzanc Books Commonwealth Fund Maurice Tempelsman Woods Fund of Chicago Gateway Arch Mother Cabrini Health Foundation The Little Prince Madoff investment scandal B. Carroll Reece 501(c)(3) organization 501(c) organization 501(h) election WalkAway campaign WinShape Foundation Government AMPRNet PBS Goldman Sachs Foundation Hewlett Foundation Ivan D. London and Miriam London Jeff Lawrence (entrepreneur) Asteroid impact avoidance Asteroid mining Economy of Omaha, Nebraska Donald J. Trump Foundation Association of churches B612 Foundation Mariano Rivera O Street Museum Foundation F. W. Olin Foundation Ewing Marion Kauffman Foundation Smith Richardson Foundation Simons Foundation Shelley and Donald Rubin Foundation Private Nonoperating Foundation Private foundation (USA)

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