Private foundation | Wikipedia audio article
Channel: wikipedia tts
Date: 02/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Private_foundation


00:01:24 1 Description
00:02:43 2 Common law
00:02:58 2.1 Bahamas
00:03:16 2.2 United States
00:06:27 3 Civil law
00:06:42 3.1 Austria
00:07:02 3.2 Canada
00:08:28 3.3 Liechtenstein
00:08:46 3.4 Mauritius
00:09:02 3.5 Netherlands
00:09:30 3.6 Netherlands Antilles
00:09:52 3.7 Nevis
00:10:07 3.8 Panama
00:10:25 3.9 Saint Kitts
00:10:42 3.10 Seychelles
00:10:59 3.11 Sweden
00:12:13 4 See also



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Speaking Rate: 0.778221158127402
Voice name: en-US-Wavenet-E


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SUMMARY
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A private foundation is a charitable organization that, while serving a good cause, might not qualify as a public charity by government standards. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion in assets. Most private foundations are much smaller. Approximately two-thirds of the more than 84,000 foundations which file with the IRS, in 2008, have less than $1 million in assets, and 93% have less than $10 million in assets. In aggregate, private foundations in the U.S. control over $628 billion in assets and made more than $44 billion in charitable contributions in 2007.Unlike a charitable foundation, a private foundation does not generally solicit funds from the public. And a private foundation does not have the legal requirements and reporting responsibilities of a registered, non-profit or charitable foundation. Not all foundations engage in philanthropy: some private foundations are used for estate planning purposes.