A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. A wide array of organizations are nonprofit, including most political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities generally seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status.
eBay Inc. is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019. The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and again when those items are sold.
A charitable trust is an irrevocable trust established for charitable purposes and, in some jurisdictions, a more specific term than "charitable organization". A charitable trust enjoys a varying degree of tax benefits in most countries. It also generates good will. Some important terminology in charitable trusts is the term ‘corpus’ which refers to the assets with which the trust is funded and the term ‘donor’ which is the person donating assets to a charity.
United Way is an international network of over 1,800 local nonprofit fundraising affiliates. Membership to United Way and use of the United Way brand is overseen by the United Way Worldwide umbrella organization.
Goodwill Industries International Inc., or shortened to Goodwill, is an American nonprofit 501(c)(3) organization that provides job training, employment placement services, and other community-based programs for people who have barriers preventing them from otherwise obtaining a job. Additionally, Goodwill Industries may hire veterans and individuals who lack education or job experience or face employment challenges. Goodwill is funded by a massive network of retail thrift stores which operate as nonprofits as well. Goodwill's answer to its profit status is "As a unique hybrid called a social enterprise, we defy traditional distinctions. Instead of a single bottom line of profit, we hold ourselves accountable to a triple bottom line of people, planet, and performance."
A charity shop (UK), thrift shop or thrift store (USA) or opportunity shop (others) is a retail establishment run by a charitable organization to raise money. Charity shops are a type of social enterprise. They sell mainly used goods such as clothing, books, music albums, shoes, DVDs, toys, and furniture donated by members of the public, and are often staffed by volunteers. Because the items for sale were obtained for free, and business costs are low, the items can be sold at competitive prices. After costs are paid, all remaining income from the sales is used in accord with the organization's stated charitable purpose. Costs include purchase and/or depreciation of fixtures, operating costs and the building lease or mortgage.
Gaia Online is an English-language, anime-themed social networking and forums-based website. It was founded as go-gaia on February 18, 2003, and the name was changed to GaiaOnline.com in 2004 by its owner, Gaia Interactive. Gaia originally began as an anime linklist and eventually developed a small community, but following a statement by founder Derek Liu, the website moved towards social gaming and eventually became forum-based.
Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gather money for non-profit organizations, it is sometimes used to refer to the identification and solicitation of investors or other sources of capital for for-profit enterprises.
A used good, or second-hand good, is a piece of personal property that is being purchased by or otherwise transferred to a second or later end user. A used good may also simply mean it is no longer in the same condition as it was transferred to the current owner. When the term used means that an item has expended its purpose, it is typically called garbage instead.
Bad debt occasionally called Uncollectible accounts expense is a monetary amount owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for various reasons, often due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. There are various technical definitions of what constitutes a bad debt, depending on accounting conventions, regulatory treatment and the institution provisioning. In the USA, bank loans with more than ninety days' arrears become "problem loans". Accounting sources advise that the full amount of a bad debt be written off to the profit and loss account or a provision for bad debts as soon as it is foreseen.
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being.
A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code Section 501(c) and is one of over 29 types of nonprofit organizations exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well. 501(c) organizations can receive unlimited contributions from individuals, corporations, and unions.
Gift Aid is a UK tax incentive that enables tax-effective giving by individuals to charities in the United Kingdom. Gift Aid was introduced in the Finance Act 1990 for donations given after 1 October 1990, but was originally limited to cash gifts of £600 or more. This threshold was successively reduced in April 2000 when the policy was substantially revised and the minimum donation limit removed entirely. A similar policy applies to charitable donations by companies that are subject to the UK corporation tax.
In the United States, a donor-advised fund is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account is invested, and how it distributes money to charities.
School fees in New Zealand is a term referring to monetary payments by parents or guardians to their child's school.
Oxfam is a confederation of 20 independent charitable organizations focusing on the alleviation of global poverty, founded in 1942 and led by Oxfam International. It is a major nonprofit group with an extensive collection of operations.
A charitable organization in Canada is regulated under the Canadian Income Tax Act through the Charities Directorate of the Canada Revenue Agency (CRA).
MedShare is a national non-profit organization that recovers surplus medical supplies and equipment from U.S. hospitals and manufacturers, and redistributes them to needy hospitals in developing countries. Founded in 1998, MedShare collects surplus medical supplies and used equipment from U.S. hospitals, manufacturers and distributors. They process these donated materials and make them available to under-served hospitals and clinics in two ways: direct shipments to international applicant institutions and supplying medical mission teams with commonly needed medical items.
Beautiful Store is a Korean nonprofit organization and charity shop. It was launched in 2002, following the model of the Oxfam shop, and now operates over 100 stores across Korea. The volunteer-run store collects donations of old or worn-out items like clothing, books, bags, kitchenware and appliances, and sells them to raise money for charity.
The Community Amateur Sports Club (CASC) scheme was introduced in 2002 by the then Labour government to support grass roots sport. The original legislation was drafted by Andrew Phillips. It recognises the importance of sport in the community by allowing local amateur sports clubs to register with HM Revenue and Customs (HMRC) as a sports club rather than a business for rates and tax purposes. As such, clubs can benefit from a range of tax reliefs, including Gift Aid and rate relief. Both property and non-property owning clubs can significantly benefit from the scheme.
