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Private Foundation

A type of non-profit charitable organization that typically gets its funding from a single source, such as a family or corporation, and often engages in grant-making to other charities.

Excess Business Holdings

A situation where a private foundation owns too large a share of a business, which can trigger a specific tax because the law limits how much control a charity can have over commercial enterprises.

Employee Stock Ownership Plan (ESOP)

A retirement plan that invests primarily in the stock of the employer company, allowing employees to own shares in the business they work for.

Outstanding Stock

Shares of a company's stock that are currently held by investors (including employees) and are not held by the company itself.

Treasury Stock

Shares of a company's own stock that it has repurchased from the open market or from investors but has not retired or reissued. It's no longer considered outstanding.

Internal Revenue Code of 1986

The official body of tax laws for the United States, administered by the Internal Revenue Service (IRS).