Charitable foundation - Definition and Overview

A Foundation is a kind of philanthropic organization, set up by either individuals or institutions as a legal entity (usually either a corporation or a trust) with the purpose of distributing grants to support causes in line with the goals of the foundation.

In civil law jurisdictions the foundation finds its source in institutions of medieval times when a patron would establish a foundation to endow a monastery or other religious institution in perpetuity. The foundation has a distinct patrimony independent of its founder and if it is not a moral person it is considered to be a social trust.

External links

• The Foundation Center (http://www.foundationcenter.org), a Clearinghouse of Information on the approximately 25,000 U.S. Foundations