What is the functional difference between a Private Foundation and Public Charity?

Answer 1

A private foundation is a privately funded entity, with stated goals and direction, usually funding causes or efforts in their arena of interest. This may be through grants for education or dissemination of information dealing with their particular cause, or scholarships for students looking to advance in a career that is integral to the foudation's goals.
A public charity solicits funds from the general public and organizations, in order to provide services or support for a particular cause, and it's income is not taxable, as there is no profit, or business motive. I.E.- Christian childrens fund, the united way, etc.