Definition: is a private or a public trust, which is established and operates for charitable purposes but is not a charitable organization. The main principle of a charitable foundation’s work implies that none of the income it manages to get can be paid to its trustor, trustee, members, etc. Such foundations are not obliged to publicize the reports of their activities, therefore many of them (especially smaller ones) choose to remain private in the eyes of the public. However, some larger charitable foundations provide the reports on their actions and operations regularly. Typically, the actions of charitable foundations are directed towards such areas as education, religion, social welfare, health, and science.
In a Sentence:
The money raised by this charitable foundation will cover the medical bills of the local group of cancer patients.
Our charitable foundation has received a significant income this year, which allows us to divide the money between two different orphanages.
The main purpose of this charitable foundation is to raise enough money to supply that village with clean drinking water.
Synonyms and related words: charitable organization, charitable institution, charitable trust, foundation, philanthropic foundation, non-profit organization