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Internal Revenue Code of 1986

The official body of tax laws for the United States, which guides how the federal government collects taxes.

Private Foundation

A non-governmental, non-profit organization that typically gets its funding from a single source, like a family or corporation, and gives grants to other charities or individuals.

Excess Business Holdings

A situation where a private foundation owns too much of a for-profit business, usually more than 20%, which can trigger a special tax.

Employee Stock Ownership Plan (ESOP)

A type of employee retirement plan that invests mainly in the stock of the company that employs the participants, allowing employees to own a part of the business.

Outstanding Stock

The total number of a company's shares that are currently owned by investors, including individuals and institutions, and are available for trading.

Treasury Stock

Shares of a company's own stock that it has bought back from the market and holds. These shares are no longer considered outstanding and do not have voting rights.

Voting Stock

Shares of a company that give the owner the right to vote on important company decisions, such as electing board members.