public endowment
A public endowment that serves a public purpose is exempt from income tax. The income of the endowment is used for its purposes.
Private endowment
A private endowment is taxed as a trust. Its income will be attributed to the creator or the beneficiaries, depending on the type of trust.
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.