Private Foundation

A private foundation is a form of charitable organization that is set up by an individual or group of individuals, typically family members, for the purpose of supporting public charities of their choosing.  Contributions to the foundation are deductible from the donor's income taxes at the time of the contribution even though the assets may not be distributed by the private foundation to public charities for many years.

Private foundations offer individuals a mechanism for maintaining maximum control of the investment and distribution of charitable funds.