Broadly speaking, a foundation is a nonprofit corporation or a charitable trust that makes grants to organizations, institutions, or individuals for charitable purposes such as science, education, culture, and religion. There are two foundation types: private foundations and grantmaking public charities.
Candid defines a private foundation as a nongovernmental, nonprofit organization having a principal fund managed by its own trustees or directors. Public charities generally derive their funding or support primarily from the public, receiving grants from individuals, government, and private foundations. Grantseekers should know the difference.
The simple answer is yes. Foundations prefer to give to applicants with 501(c)(3) exempt status, and places of worship, including churches, mosques and synagogues, and faith-based organizations generally qualify for 501(c)(3) status.
Celebrities are often sought after to support charitable causes in a a variety of ways. Some will lend their name to a cause or event while others give financial support or volunteer as individuals. Some have even set up their own private foundations.
If you intend to raise funds from the public, rather than starting out with an endowment of your own that you will use to make grants, you will almost certainly be forming a public charity rather than a private foundation.
A community foundation is a tax-exempt charitable organization that provides support -- primarily for the needs of the geographic community or region where it is based -- from funds that it maintains and administers on behalf of multiple donors.
Most foundations are set up to have a perpetual life-span, spending out only the interests from their investments while keeping the initial endowment intact. Other foundations choose to have a limited life-span. Regardless of the reason for the termination, foundations dissolve by "spending down" their assets in compliance with both state and federal law.
According to the Forum of Regional Associations of Grantmakers' More Giving Together, a giving circle "is formed when individuals come together and pool their dollars, decide together where to give the money (and other resources such as volunteer time), and learn together about their community and philanthropy."
En Estados Unidos cuando se utiliza el término "foundation" o fundación, se refiere en casi todos los casos a una organización sin fines de lucro incorporada o un fideicomiso cuyo propósito principal es la actividad filantrópica, es decir el de proporcionar apoyo financiero o técnico a otras organizaciones, instituciones, o particulares.
Una fundación comunitaria es una entidad pública filantrópica dentro del sector no-gubernamental que responde a las necesidades diversas de en una zona geográfica en particular. Sus recursos financieros provienen de múltiples fuentes, incluyendo de filántropos que ponen en manos de las fundaciones comunitarias sus bienes caritativos.