What is the Difference Between a Public Charity and a Private Foundation?
In the nonprofit community, the words “public charity” and “foundation” often are used interchangeably. However, there is an important legal distinction between the two types of tax-exempt organizations. For starters, it is helpful to understand that every 501(c)(3) tax-exempt organization is classified by the IRS as either a “public charity” or a “private foundation.” This […]