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According to the Encylopedia Britannica, a philanthropic foundation is a nongovernmental, nonprofit organization. Terms commonly used to designate these organizations include: foundation, endowment, and charitable trust.
A foundation 's assets are provided by donors. Historically, many of the large foundations in the United States originated in the late 19th and 20th centuries stemming from the fortunes of wealthy industrialists.
There are many types of foundations:
Foundations are an important source of support for initiatives in the learn-and-work ecosystem. Foundation support can provide seed money for planning, research, and development; and/or operating funds to enable higher education institutions and other organizations (e.g., nonprofit intermediaries) to develop, fine-tune, and sustain work.
Many foundations encourage collaboration among funded projects plus support networks and alliances of those working to improve components of the ecosystem as a resource leveraging strategy.
Many foundations also encourage widespread dissemination of grantees' work through communications tools such as websites, campaigns, newsletters, reports and briefing/issues papers, blogs, conferences, webinars, and the use of social media.
https://www.britannica.com/topic/philanthropic-foundation
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