[Foundation-l] Foundation vs. charity

[Fred Bauder]

> On Tue, Apr 26, 2011 at 3:05 PM, Fred Bauder <fredbaud at fairpoint.net>
> wrote:
>> Foundation is not a legal term
>
> "Private foundation" is one, though, and it is one that is contrasted
> with "public charity".
>
> http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000509----000-.html
> http://www.irs.gov/charities/charitable/article/0,,id=137894,00.html
>

Yeh, I think we'd have to look up more than that to actually clarify all
this. Bottom line: the terms are ambiguous except so far as they are
legally defined in one context or another. Although the NYT's journalist
did have a point. The Ford or Rockefeller Foundations were funded;
Wikimedia Foundation is not.

Fred