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FINDLAW LEGAL DICTIONARY

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Private Foundation

private foundation n

: a tax-exempt foundation operated exclusively for humanitarian (as religious, charitable, educational, or scientific) purposes whose earnings do not benefit any private individual and which does not participate in or carry on any political propaganda or campaign compare charity



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.