From Joanne Fritz,
Your Guide to Nonprofit Charitable Orgs.
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Definition: A corporate foundation is a private foundation that derives its grantmaking funds primarily from the contributions of a profit-making business.

The company-sponsored foundation often maintains close ties with the donor company, but it is a separate, legal organization, sometimes with its own endowment, and is subject to the same rules and regulations as other private foundations.

According to the Council on Foundations, there are more than 2,000 corporate foundations in the United States holding some $11 billion in assets.

Examples: "A corporate foundation is a common version of private foundations."