What is Foundation (nonprofit)?
A '''foundation''' is a kind of [[company]] set up to carry out [[charity (practice)|charity]] or [[research]] work. A foundation is usually [[endowed]], which means it is given a large sum of [[money]] to do its work.<ref>{{cite web|date=2013-06-18|title=What is a foundation &#124; Foundations &#124; Funding Resources &#124; Knowledge Base &#124; Tools|url=http://grantspace.org/tools/knowledge-base/Funding-Resources/Foundations/what-is-a-foundation|access-date=2017-03-29|website=GrantSpace.org}}</ref> Examples of foundations include the [[Rockefeller Foundation]] and the [[Wikimedia Foundation]]. The [[Rockefeller family]] made their money from [[banking]] and [[oil]] and their family foundation is endowed with a very great sum of money. The people running the foundation think of ways to use the money to help charities, the arts, or whatever they like.<ref>{{Cite web|date=8 February 2012|title=Proposal for a Regulation on the Statute for a European Foundation (FE) – frequently asked questions|url=https://ec.europa.eu/commission/presscorner/detail/en/MEMO_12_79|website=European Commission}}</ref> Another example is the [[Bill & Melinda Gates Foundation]]. Bill Gates made a [[Wealth|fortune]] from [[Microsoft]]. He and his wife now spend nearly all their time giving away the money he has made. They give it to [[project]]s like [[education]] in the [[United States]] and treating [[AIDS]] in [[Third World]] countries. == References == <references /> ==Other websites== {{commons cat-inline|Foundations (organizations)}} [[category:Companies]]