What are the different types of foundations?
Independent Foundations: Independent foundations are the most common type of private foundation. They are generally founded by an individual, a family or a group of individuals. They may be operated by the donor or members of the donor’s familya type often referred to as a family foundationor by an independent board. Corporate Foundations: Corporate foundations are created and funded by companies as separate legal entities, operated by a board of directors that is usually comprised of company officials. Corporations may establish private foundations with endowments, make periodic contributions from profits, or combine both methods to provide a foundation’s resources. Some companies operate in-house corporate giving programs, which unlike corporate foundations are under the full control of the company and are not required by law to follow the same IRS regulations. Many corporations maintain both a foundation and a corporate giving program. Community/Public Foundations: Community and oth
There are three basic types of grantmaking foundations: Independent Foundations: Independent foundations are the most common type of private foundation. They are generally founded by an individual, a family or a group of individuals. They may be operated by the donor or members of the donor’s familya type often referred to as a family foundationor by an independent board. Corporate Foundations: Corporate foundations are created and funded by companies as separate legal entities, operated by a board of directors that is usually comprised of company officials. Corporations may establish private foundations with endowments, make periodic contributions from profits, or combine both methods to provide a foundation’s resources. Some companies operate in-house corporate giving programs, which unlike corporate foundations are under the full control of the company and are not required by law to follow the same IRS regulations. Many corporations maintain both a foundation and a corporate giving
