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Kinds of foundations .
Foundations may be either public or private. Private foundations include independent, company-sponsored, and operating foundations. The only type of public foundation is the community foundation. Each type of foundation distributes funds in different ways and for different purposes. .
Independent foundations often bear their founders' names and are usually the best known to the public. They include the Carnegie Corporation of New York, the Ford Foundation, and the Rockefeller Foundation. Many independent foundations have charters that allow them to operate freely in such fields as education, health, and welfare. However, some people organize foundations for more specific purposes. If foundations of this kind are organized as perpetuities, they often outlive their original aim. For example, the Bryan Mullanphy Fund, which was established in St. Louis in 1851, furnished "relief to all poor emigrants and travelers coming to St. Louis on their way . to settle in the West." By 1900, it became impossible to find enough qualified people. .
Company-sponsored foundations are established by companies and corporations. Although legally separate from the profit-making businesses that provide their funds, foundations often concentrate their work in areas of interest to the founding firms. Since about 1950, company-sponsored foundations have grown significantly both in number and in the average size of their individual endowments. Some of the larger company-sponsored foundations include the AT&T Foundation, Alcoa Foundation, and the General Motors Foundation. .
Operating foundations generally employ their own staffs to directly operate programs determined by their charter and governing body. Thus, their programs are tailored to specific purposes. Operating foundations award few or no grants to outside individuals or groups. For example, the Norton Simon Foundation devotes its funds mainly to the purchase and display of works of art.
