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There is no real difference between a public charity and public foundation. Both are organizations working for the public good, enacted primarily to support unrelated non-profit organizations, able to give donors tax deductions equal to the donation, and are exempt on federal income tax by IRC 501(c)(3). You might be asking the difference between a public and private foundation. A public foundation/charity must get at least a third of its support from gifts, grants and fees, and not more than a third of its income from investments. Therefore, it must be publically supported from the diversity of gifts, grants and fees, and must not have such a large corpus that the interest on the money is a third of its income. A private foundation can have one large endowment to begin and never solicit support ever again (a family foundation is the classic example). Both types of foundations must still 'pay-out' five percent of its corpus to unrelated, non-profit organizations every year.

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