▶ F O U N D A T I O N S
meaning: 501(c)(3 )organization
▶ The Basics. Section 501(c)(3) is the portion of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations, specifically those that are considered public charities, private foundations or private operating foundations.
Unique among these organizations is The Clinton Foundation,
describing itself as: "an operating foundation. The money raised by the Foundation is spent directly on our programs, and not as grants to other charitable organizations."
The Clinton Foundation is a nonprofit corporation under section 501 of the U.S. tax code. It was established by former President of the United States Bill Clinton with the stated mission to "strengthen ... Wikipedia