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Additional Sources of Revenue
Private Foundations
Private foundations are nonprofit, tax-exempt 501(c)(3) organizations that are governed by a board of directors or trustees. This board may include members of the founder’s family. Funding decisions are usually made by the board, although many have paid staff to manage the organization’s grant making operations. Private foundations often were started by one individual or family for a specific purpose, and they tend to provide funding for programs that were important to the original founder.
