A charity is excepted if it:
holds land and buildings on trust for use as or by a school, and
has no other source of income
These charities are usually called foundations. Foundations created under the School Standards and Framework Act 1998 are exempt charities. These school foundation charities are usually linked to, but independent of, a charity that runs the school on their premises. The charity that runs the school is likely to be an exempt charity. See the commission’s guidance for school governors for more information about the types of schools that might be linked to an excepted foundation charity.