How does a PIF work?
A Private Interest Foundation works like a hybrid (a crossbreed) between a Corporation and a Trust. A PIF is like a Corporation because a PIF can live forever, like a Corporation. A PIF is governed by a Foundation Council. The Council takes the place of a Board of Directors for a Corporation. A PIF is like a Trust in that all of the assets held by the PIF are being held on behalf private parties, in their private interest. No public oversight is authorized.
