What is a foundation?

A foundation is an entity that is established as a nonprofit corporation or a charitable trust, with a principal purpose of making grants to unrelated organizations or institutions or to individuals for scientific, educational, cultural, religious, or other charitable purposes.

Characteristic Types of Foundation:

There are two characteristic types. One is Private foundations and another is public foundations. The most common distinguishing characteristic of a private foundation is that most of its funds come from one source, whether an individual, a family, or a corporation. A public foundation, in contrast, normally receives its assets from multiple sources, which may include private foundations, individuals, government agencies, and fees for service. Moreover, a public foundation must continue to seek money from diverse sources in order to retain its public status.

A foundation is a nonprofit organization that supports charitable activities in order to serve the common good. Foundations are often created with endowments-money given by individuals, families or corporations. They generally make grants or operate programs with the income earned from investing the endowments.

What Are the Different Types of Foundations?

Independent Foundations: Independent foundations are the most common type of private foundation. An individual, a family or a group of individuals generally founds them. The donor or members of the donor's family, a type often referred to as a family foundation or by an independent board, may operate them.

Corporate Foundations:

Corporate foundations are created and funded by companies as separate legal entities, operated by a board of directors that is usually comprised of company officials. Corporations may establish private foundations with endowments, make periodic contributions from profits, or combine both methods to provide a foundation's resources. Some companies operate in-house corporate giving programs, which unlike corporate foundations are under the full control of the company and are not required by law to follow the same regulations. Many corporations maintain both a foundation and a corporate giving program.

Community / Public Foundations:

Community and other public foundations are publicly supported foundations operated by, and for the benefit of, a specific community or geographic region. They receive their funds from a variety of individual donors, and provide a vehicle for donors to establish endowed funds without incurring the costs of starting a foundation. A governing body or distribution committee representative of community interests administers Community/public foundations. There is also a type of foundation that does not generally make grants, called an operating foundation. The majority of an operating foundation's funds are expended to operate its own charitable programs.

What Limits Are There on Foundation Grant making?

Some foundations have broad discretion regarding the charitable causes to which their grants can be directed. Others are sharply limited, often legally, by the mandate of the foundation donor. Some foundations are restricted to making grants only to specific causes; others must restrict their grant making to a specific geographic area.

How Are Foundations Regulated?

Foundations are governed by stricter regulations than public charities, which generally raise money from the public to operate institutions or programs. Both foundations and public charities might use the term "foundation" in their titles, but very different laws apply to each.

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Useful NGO Books for NGO Management

Handbook for NGOs by Nabhi Publications

NGO Handbook (In Hindi)by Nabhi

Formation and Management of NGOs: Non Governmental Organisations by Anita Abraham

Formation and Management of NGOs (Non Governmental Organisations) - Universal Publication

How to start promote and manageNGO by Xcess

Handbook for NGO's and NPO's by Taxmann Publications Private Limited

NGO & Training Centre in India by Mantri Pragada Markandeyulu

NGOs in India: The challenges of women's empowerment and accountability (Routledge Contemporary South Asia Series)

Management of NGO's by Laxmi Publications

Interesting Issues on Charitable Trusts or Institutions NGOS & NPOS a Complete Guide to Frequently Asked Questions by CA N Suresh

NGO Management: With Case Studies by Surendra Publications


Useful books for TRUST formation and Management

Formation & Management Of A Trust by Nabhi's

Formation and Management of Charitable and Religious Trust Educational and Medical Institution under Income Tax Law by Universal Law Publishing co

All About Charitable Trusts - Formation, Registration, Management & Taxation of CHARITABLE & RELIGIOUS TRUSTS (With Free CD) by CA Virendra K. Pamecha , CA Rakesh Nahar

Formation and Management of a TRUST along with Tax Planning by Nabhi Publication



Useful books for Society formation and Management

Formation and Management of Societies (Telugu) by Pendyala Satyanarayana

Formation & Managements Of A Society by Nabhi

Formation & Management of a SOCIETY by Nabhi New

Formation and Management of Societies by Y. Kameshwara Rao

Formation and Management of a Co-operative Society alongwith Multi State Co-operative societies Act & Rules by Nabhi Board Of Editors


Useful books for NGO fundraising

Funding of NGOs: How to Manage by Mahaveer & Sons

Taxation of Trusts & NGOs by Taxmann

How to Start & Promote NGOs & NPOs in India Starting, Management & Funding of NGOs /NPOs Covering Schemes of the Ministries of Government of India by Xcess Infostore Pvt. Ltd.

Nonprofit: Starting a Charity - How To Successfully Change Lives, Give Aid & Build a Community (Contribution, Not For Profit, Fundraising, Startup, Donation, Volunteering, NGO Book 1)

Fundraising: 10 Tips to Raise Money for Ngos, Small Business and Non-profits

NonProfit Crowdfunding Explained: Online Fundraising Hacks to Raise More for Your NonProfit

Fundraising Techniques and Financial Assistance to NGO by Anmol Publisher

Guide To Fundraising and Public Relations For NGOs and Non Profit Organisations by CSIM




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