Foundation (engineering)
A foundation is the element of a structure which connects it to the ground, and transfers loads from the structure to the ground. Foundations are generally considered either shallow or deep. Foundation engineering is the application of soil mechanics and rock mechanics (Geotechnical engineering) in the design of foundation elements of structures.
Private foundation (United States)
A private foundation is typically set up as a non-profit corporation that bears the name of its donors, but may alternatively be established as a trust. Donors specify the charitable purpose of the foundation (example: grants for cancer research, scholarships for the needy, support of religious goals) . During their lifetime, they may continue their charitable giving by making tax deductible contributions to the foundation. The foundation may also be funded with a bequest from the donors' will or trust or receive funds as the primary or secondary beneficiary of a qualified plan or IRA.The IRS reports that there were 115,340 private foundations in the U.S. in 2008, of which 110,099 were grantmaking (non-operating) and 5,241 were operating foundations. Approximately 75% of the private foundations file annually with the IRS.