Charities

Definition of charity

Charity can be described in several ways:

A foundation formed to promote public good.

A kind and indulgent attitude towards people

An activity or, some kind of gift which provides assistance to the public on a large scale

An organization created to help the needy.

According to Christian theology, charity denotes love and kindness towards others; moreover, it signifies the ultimate perfection of the human soul, as such acts of kindness adore and reflect the nature of God. An English translation of the Greek term “agape”, charity, in its extreme form, is signified to portray self-sacrifice.

As per its traditional legal meaning, charity denotes religion, promotion of health, education, aid towards poverty or distress and numerous other purposes that benefit the society. The above stated functions are usually performed by non-profit organizations, which enjoy tax-exempt status.

Charity is related to private, non-profit, philanthropic or welfare organizations.

Charity, as a noun, denotes a kind of non-profit organization which requests for and accepts donations or any sort of gifts, either from corporate donors and funding organizations or individuals.

For more information you can log on to the following link http://en.wikipedia.org/wiki/Charitable_organization.

One of the most common and oldest kinds of tax deduction is donation of money or goods to a charitable organization. Generally, all types of donations made to a non-profit organization are deductible, as long as the amount claimed does not go beyond half of the gross income of the taxpayer. The excess, however, might add to future tax returns for up to five years. While finding a qualified organization you might be a bit confused as you might suppose, "what is a qualified charitable organization?" The answer in this regard is pretty elaborate. To name a few qualified charitable organizations brings us to a long list encompassing churches, religious organizations, trust funds and foundations formed to promote educational, scientific, or literary purposes. Continuing on this note, they even entail the government, including state, local, and tribal governments.

Types of charities

While we classify charities, we come across several types of organization working in diverse fields to help the ones in need.

• Educational Charities

Educational charities all over the world work to provide scholarships in several schools. In addition, these charities also grant endowments to numerous schools enabling the needy students to carry on with their education without taking the burden of educational expense. The main goal of these educational charities is to further education among all sections of the society irrespective of caste, color or, creed.

• Scholarship Fund

Many organizations, all over the world, provide scholarship funds for some particular section of the society, which had been undernourished for long time period. One such organization is the Hispanic Scholarship Fund, which is the leading organization for higher education of Hispanic Americans. These scholarship funds are focused on improving the standard of higher education among the class and creed of Hispanic Americans. The scholarship funds offer a lump sum worth millions to several states.

• AIDS/HIV Charities

In view of the present scenario, AIDS has cropped up as one of the most serious problems the world is facing today. Working to offer assistance to people all over the world, AIDS/HIV charities organize special camps to create awareness about the virus and the precautions that can be taken to avoid it’s attack. A number of charities are even working to find a vaccine for AIDS/HIV. Several organization conduct AIDS vaccine research and development program as well.

• AIDS Foundation associations

Working on similar fields, AIDS Foundation associations work with other charities to help reduce the number of AIDS cases and support people with AIDS/HIV virus. The chief goal, however, is to create a positive social impact for people fighting HIV/AIDS. Through these awareness programs, these foundations work to serve thousands of people all over the globe, thereby, reaching out to a wider mass through their various programs. As such these foundations too are more focused on creating awareness and providing support.

• Animal Charities

Animal charity associations are devoted to work for the betterment of the status of animals in our society. Many species of animals, in different parts of the world, are gradually moving towards extinction. These organizations toil hard to rescue these rare species and provide them a safer and secure environment with adequate food and care. Operating all around the globe, several animal charities provide shelter to these animals as they realize the important role animals play in human health and welfare. Most commonly known as animal rehabilitates, a number of these organizatins provide pet-assistance therapy as well.

• Animal Rescue

Animal Rescue centres are somewhat similar to animal charities. However, animal rescue centres concentrate on the task of rescuing animals. These organizations are more focused on taking care of animals treated as unwanted, with the motto of offering each one of them a perfect home. They even provide pet-assistance to individuals having pets at their home.

• Disaster Charities

One of the most common types, disaster charities offer assistance to the victims of different kinds of disasters. Be it a tsunami affected area or Katrina victims, these charities help sufferers to cope with their present problems by identifying the most urgent needs. They might work for a particular state or, on an international basis providing their help to all needy sectors hit by some kind of disaster.

• International Relief Teams

In general, as the name itself suggests, international relief teams support people who have been through a disaster, or who are in poverty and have been neglected in different parts of the world. Encompassing the services of specialists, these charities specialize in proffering medical assistance as well. In fact, International Relief Teams often provide just about anything you can offer through volunteer work. Working on a wide scale, these entities provide food, clothing, medical supplies and volunteer services.

• Cancer Charities

Operating on specific areas, cancer charities are focused on improving the quality of life of critically and chronically ill people suffering from cancer, leukemia, and other life-threatening diseases. These entities offer support to them whose survival rests on a bone marrow or blood stem transplant. Similarly, there are several breast cancer foundations as well, which give women inspiration, compassion, and understanding. They even offer educational programs and money to underserved and uninsured women from poor families who cannot afford to pay for their cancer treatment. Some entities offer financial assistance to provide free treatments for those with cancer.

• Miscellaneous Organizations

Large non-profit organizations, from different parts of the world, today work for the betterment of the status of women and improvement of the condition of old people. These organizations also offer additional donations and help to organize fundraising programs. The charities might be devoted to a particular cause as well. There are numerous charities working for young people with disabilities and those suffering from development barriers in achieving life potential. With special integrated applied research and learning programs, these organizations have today developed into charity centers bringing a positive change into the lives of deprived children. They are deeply committed to creating a difference in the life of young people through their well-crafted programs and services. Through these programs, people from varied fields can meet on a level free from intimidation or barriers.

For more information you can log on to http://www.howard-winn.k12.ia.us/projects/ind_stdy06/ac/charities/p3different.html

• Foundations

Charities can take the form of foundations as well. In general, they come in various sizes and types. Simultaneously, the grants or funds given to them are of different types.

The most common among these include:

Private Foundations- these encompass large assets and issue annual reports.

Corporate Foundations- they are private foundations too, but their boards often consist of corporate officers. The endowment funds received by them are separate from that of corporations; some of them even have their own professional staff.

Community Foundations- they are in general community service organizations that pool assets of many donors.

Family Endowments- they get endowments especially from families and individuals.

Fundraising

Teamed with charity comes in the concept of fundraising, as it is an important aspect in the running of an organization.

Fundraising programs seek both ongoing financial as well as episodic support.

The Annual Fund

An annual fund is an annual appeal to a core group of constituents. Such types of funds generally signify a large percentage of annual income and are usually unrestricted.

Ongoing Sales of Products and Services

Several non-profit organizations own stores, produce products and provide services that can rope in a substantial part of income. This can be a great source of funds for numerous charities and non-profit organizations.

Two Special Types of Fundraising

Outside the scope of ongoing and episodic methods, the two types of funding encompass a wide range of sources.

The Capital Campaign

In general, a capital campaign multi-year fundraising campaign encompasses certain specific goals. These goals are:

Financial support provided to a new building.

Raising funds for an exacting project, for example, cancer research

Building up a particular asset

Other than the above mentioned ones, fundraising can even be done through planned giving.

Planned Giving

Several nonprofit organizations, at present, run planned giving programs. This, in turn, enables a donor to confer a gift at the time of his/her death, or, give a large gift while receiving income during the donor's lifetime.

For more information on charity and charitable organizations, you can log on to http://www.justgive.org/ and http://www.ird.govt.nz/charitable-organisations/.

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