A private foundation may be funded by an individual, a family, or a for-profit company. At The Nature Conservancy, we frequently receive donations from family foundations, one particular type of private foundation. Regardless of the source of funding, it is important to understand that once cash or other assets are gifted (or bequeathed) to a private foundation, those assets then belong to a separate legal entity that is subject to many restrictions. Said as simply as possible: It’s not the individual donor’s money anymore.
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