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Key Terms for Charities
As you likely know, there are charities found all over the world, and these organizations offer assistance in different ways. Typically people have the opportunity to donate money to charities, or volunteer to help the homeless or children in need. Generally these organizations are nonprofit, and provide necessary aid to millions of people on a global scale. Below you will find some helpful key terms that can assist you with better understanding charity organizations and event fund raisers.
Philanthropy – The desire to help or assist others in some way out of compassion. This can be done through community volunteer work or donations made to a specific charity.
Charity – This is an organization that is set up to specifically assist people in need. Most charities are geared toward a specific cause, such as helping alleviate child hunger.
Nonprofit – Something that is conducted or organized without the intention of making any profit or money from it. The funds that are raised or donated to organizations like this are used to help people in need.
Emergency Relief – Assistance in the form of money, food and volunteer work that is provided for people that suffer from a natural disaster or other major plight.
Homeless Shelter – A designated building or shelter that is meant for adults and children in need. These are found in cities all over the United States, and provide a place to sleep for individuals without homes.
Event Fundraiser – A nonprofit event that is held specifically to raise funds for a certain organization or group of people in need.
The idea that there is a certain responsibility to give to those less fortunate has been around for a very long time.
In the modern United States, however, what is and is not a charity is heavily regulated. A charity or non profit is required to obtain a 501(c) and abide by various regulations as to how it can spend its money.
Despite this, there are a large number of charities, nonprofits and philanthropic organizations in the country. Individuals may donate money or goods to these organizations. They may also volunteer their time. They cover all kinds of causes. Some focus on helping children, some on animals. Others handle emergency and disaster relief. Children's charities may address poverty or medical research.
Funds may be raised by a variety of methods. Event fund raising is popular, including silent auctions, concerts and dinners. Some individuals tithe a specified amount of their income. Personal philanthropy can also be spontaneous. It is possible to get a tax break if you donate money or valuable items. Old cars, for example, are commonly donated to charity. Other charities take old cell phones, either for recycling or reuse. Some charities actually form event funds to give to other charities.
Volunteering for a nonprofit is common in some segments of the population and can be highly rewarding. Other individuals and businesses may contribute their professional services rather than donate cash. Charities may also benefit from government grants and aid. Sponsorship is a form of donation whereby an individual agrees to pay a certain amount towards a specific action. Normally, a charity will ask for individuals or companies to sponsor a child or an animal. Charities may focus on disease, poverty or hunger. Homeless shelters are also often owned by charities or charitable foundations. The positive impact of charities is considerable.