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EPF M3L2 Key Terms

Economics & Personal Finance Module 3 Lesson 2 Key Terms

TermDefinition
Altruism When we do something to help promote someone else’s well-being, even when it costs us something.
Philanthropy Doing something to promote someone else’s well-being with the goal of increasing the well-being of the world and/or mankind.
501c Organization An organization classified as either a private foundation or public charity for tax purposes.
Charities Organizations that help raise money for those in need.
Non-Profit Organization The organization’s goal is to not generate income, but to serve a cause.
Public Charity Charities that generally receive a greater portion of their financial support from the general public or government, and have greater interaction with the public. Examples include churches, schools, hospitals, and medical research organizations.
Private Foundation Service organizations typically controlled by members of a family or by a small group of individuals that receive much of their financial support from fewer sources.
Donation Something, such as goods or a sum of money, is given to charity.
Crowdfunding The idea of raising funds for a project or cause through a large group of people online.
Community Service Voluntary work intended to help people in a particular area.
Service Learning A form of service that helps the community, but it is tied to a curriculum at school.
Created by: dmcsorley13
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