What is a Foundation?

A foundation is a nonprofit organization that gives grants, equipment, or other support to causes related to science, education, culture, religion, or other charitable purposes.

The concept of private foundations emerged in the early 20th century with figures like Andrew Carnegie and John Rockefeller, who sought a structured way to distribute their wealth for social good. Today, there are over 44,000 private foundations in the U.S., with two-thirds managed by families.

MBTF is a family foundation, meaning it is governed by members of a single family. A family foundation operates with a long-term vision, ensuring that multiple generations continue its charitable work.

Private foundations must follow IRS regulations, including the 5% payout rule, which requires that a minimum of 5% of assets be distributed each year to maintain tax-exempt status..

It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world..