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EPF M3L2 Key Terms
Economics & Personal Finance Module 3 Lesson 2 Key Terms
Term | Definition |
---|---|
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. |