Philanthropy is a concept with many definitions, but at its core it is about private assets being given for public use and benefit. Philanthropic foundations are structures or organisations for giving. Legally speaking, foundations are trust funds, established by a deed specifying the trustee and beneficiaries (however broadly defined). The term foundation is commonly used to refer to an organisation that exists for public beneﬁt purposes, is registered as a charity, and has its own funds often in the form of an endowment.
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