noun
foundation
An organization established to fund or support work for public benefit.
The foundation awards grants to schools in low-income communities.
Etymology
The Latin ancestor means to lay a base or establish. The organization is named as something established, typically with resources dedicated to continuing a particular purpose.
More examples
- She started a foundation to support cancer research.
- Several foundations help pay for the museum's educational programs.
- We applied to the foundation for a community garden grant.
Forms
foundation · foundations
endowment noun — Money or property donated to support an institution.
Similar words
- charity
- Often provides direct aid rather than funding other organizations.
- nonprofit
- Broader term covering organizations that do not distribute profits.