Rules governing the operation of a nonprofit corporation.

Building Campaign:Ī drive to raise funds for the construction or renovation of buildings. 'Bricks and Mortar':Īn informal term indicating grants for buildings or construction projects. Generally, assets are invested and the income is used to make grants (see Payout Requirement).Ī sum of money made available upon the donor's death. Assets:Ĭash, stocks, bonds, real estate, or other holdings of a foundation. This is the first legal step in forming a nonprofit corporation. (The annual contributions report is not to be confused with a corporation's annual report to the stockholders.) Articles of Incorporation:Ī document filed with the secretary of state or other appropriate state office by persons establishing a corporation. A growing number of foundations and corporations use an annual report as an effective means of informing the community about their contributions, activities, policies, and guidelines. It may be a simple, typed document listing the year's grants or an elaborately detailed publication. Annual Report:Ī voluntary report published by a foundation or corporation describing its grant activities. Affinity Group:Ī separate and independent coalition of grantmaking institutions (or individuals associated with such institutions) that shares information or provides professional development and networking opportunities to individual grantmakers with a shared interest in a particular subject or funding area. A 501(c)(3) organization also must have a 509(a) designation to further define the agency as a public charity (see Public Support Test). Section of the tax code that defines public charities (as opposed to private foundations). Note: The tax code sets forth a list of sections-501(c)(4-26)-to identify other nonprofit organizations whose function is not solely charitable (e.g., professional or veterans organizations, chambers of commerce, fraternal societies, etc.). Most organizations seeking foundation or corporate contributions secure a Section 501(c)(3) classification from the Internal Revenue Service (IRS). Organizations qualifying under this section include religious, educational, charitable, amateur athletic, scientific, or literary groups, organizations testing for public safety, or organizations involved in the prevention of cruelty to children or animals. Section of the Internal Revenue Code that designates an organization as charitable and tax-exempt. Foundation-Specific Programs & ServicesĪ B C D E F G I J L M O P Q R S T U Certain definitions are defined by law.Community Foundations National Standards.Council Letters to Congress & Administration.FEMA National Disaster Recovery Program Database.Disaster Grantmaking and Response to Specific Disasters.Diversity, Equity, and Inclusion Commitment.

Charitable donations synonym