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SFL 260 Exam 1
| Term | Definition |
|---|---|
| Steward | a person employed to manage another's goods or property. A person who's responsibility it is to take care of something |
| stewardship | responsibility to administer or attend to the assignments one receives in a church calling, or to take care of those things with which we are blessed from God, including families, neighbors, and even temporal blessings |
| charitable organization | an organization/group with the mission of performing social good |
| non-profit organization | a business/corporation created for a cause other than money/returning money to investors. they use their earnings to achieve their aims |
| 501(C)(3) | a non-profit that the IRS exempts from paying taxes, donating to charity only has US tax benefits if the charity is one of these. all of these are nonprofits but not all nonprofits are these |
| healthy relationship with money | view money as a tool, choose to act on your money, avoiding extremes |
| family financial records | family income and expense statements, family net worth statements, family spending plan/budget |
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pworthen0723