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Until 1969, the term private foundation was not defined in the Internal Revenue Code. Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category. Private foundations in the United States are generally subject to a 1% or 2% excise tax on net investment income.〔http://www.irs.gov/irm/part7/irm_07-026-001.html〕 〔Glossary of Philanthropic Terms. (n.d.). Retrieved November 5, 2014, from http://dearborncf.org/glossary.aspx〕 According to the Foundation Center, a private foundation is a nongovernmental, nonprofit organization, which has a principal fund managed by its own trustees or directors.〔Glossary of Philanthropic Terms. (n.d.). Retrieved November 5, 2014, from http://dearborncf.org/glossary.aspx〕 Hopkins (2013) listed four characteristics that make up a private foundation: * It is a charitable organization and thus subject to the rules applicable to charities generally; * Its financial support came from one source, usually an individual, family, or company; * Its annual expenditures are funded out of earnings from investment assets, rather and from an ongoing flow of contributions; * It makes grants to other organizations for charitable purposes, rather than to its own programs. 〔 Hopkins, B. (2013). Chapter 10: Public Charity Status: Acquiring and Maintaining Public Charity Status. In The Bruce R. Hopkins nonprofit law library essential questions and answers. Hoboken, NJ: John Wiley & Sons〕 ==History== The Tax Reform Act of 1969 created the private foundation as we know of it today where the tax code imposed the present day legal framework. These restrictions came about as a reform effort to remedy perceived abuses of private foundations such as the claim that this type of charitable organization more likely served the private interests of the rich rather than the intended charitable purpose. Such criticism asserted that private individuals created private foundations as a vehicle to protect their assets from taxation; meanwhile the descendants may assert control over these assets almost in perpetuity. This is the context from which the present day legal framework arose. In 2007 ''The Wall Street Journal'' reported that wealthy families are both increasing the number of foundations they close as well as increasing the number they establish. One trend is to put a time limit on the life of a foundation, under the assumption that heavy spending over a short period of time will do more good than slower spending over the long term. Some foundations are closed due to family disputes, concern about the effect of foundation wealth on descendants, and concern that future generations will not share the political beliefs that spurred the original establishment of the foundation. Sometimes one is closed, only to be reopened with a new purpose.〔(Beatty, Sally, ''Families Wrestle With Closing Foundations'', ) Wall Street Journal, April 27, 2007.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Private foundation (United States)」の詳細全文を読む スポンサード リンク
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