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- 501(c)(3):
- Section of the Internal Revenue Code that designates
an organization as charitable and tax-exempt.
- Bequest:
- A sum of money made available upon the donor's
death.
- Challenge grant:
- A grant made on the condition that other monies
must be secured, either on a matching basis or via
some other formula, usually within a specified period
of time, with the objective of stimulating giving
from additional sources.
- Designation funds:
- A type of restricted fund in which the fund beneficiaries
are specified by the grantors.
- Donor-advised fund:
- A fund held by a community foundation where the
donor, or a committee appointed by the donor, may
recommend eligible charitable recipients for grants
from the fund. The community foundation's governing
body must be free to accept or reject the recommendations.
- Donor-designated fund:
- A fund held by a community foundation where the
donor has specified that the fund's income or asset
be used for the benefit of one or more specific public
charities.
- Endowment:
- The principal amount of gifts and bequests that
are accepted subject to a requirement that the principal
be maintained intact and invested to create a source
of income for a foundation.
- Field of interest fund:
- A fund held by a community foundation that is used
for a specific charitable purpose such as education
or health research.
- Form 990:
- An IRS form filed by public charities.
- Grant:
- An award of funds to an organization or individual
to undertake charitable activities.
- In-kind contribution:
- A donation of goods or services rather than cash
or appreciated property.
- Operating support:
- A contribution given to cover an organization's
day-to-day, ongoing expenses, such as salaries, utilities,
office supplies, etc..
- Philanthropy:
- From the Greek word for 'love of mankind.' Voluntary
giving by an individual or group to promote the common
good, typically supporting research, health, education,
arts and culture, and other activities, as well as
the alleviation of poverty.
- Restricted funds:
- Assets or income that is restricted in the types
of organizations that may receive grants from it or
in the procedures used to make grants from such funds.
- Seed money:
- A grant or contribution used to start a new project
or organization.
- Tax-exempt organizations:
- Organizations that don't have to pay state and/or
federal income taxes.
- Unrestricted funds:
- Normally found at community foundations, an unrestricted
fund is one that is not specifically designated to
particular uses by the donor, or for which restrictions
have expired or been removed.
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