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What is the difference between a private foundation and a public foundation?

April 26, 2017difference foundation private public

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What is the difference between a private foundation and a public foundation?

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Private Foundations are those that do not have broad financial support from the general public; they derive their income from one individual or family. A Public Foundation is one that has broad support from the general public or are organizations that support one or more other organizations that are themselves classified as public charities. Public charity status is a more favorable tax status than private foundation status.