A private foundation is a nonprofit, nongovernmental organization with a principal fund or endowment of its own. A private foundation derives its money from a family, an individual, or a corporation. An example of a private foundation is the Ford Foundation. By contrast, a grantmaking public charity derives its support from various members of the public. An example of a grantmaking public charity is the Ms. Foundation for Women. Most community foundations are also grantmaking public charities. [Many publications and databases cover private foundations, corporate giving programs, and community foundations and other grantmaking public charities.]

See also…

Tax Law – Forum

Nonprofit Law and Fundraising