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Definitions (33)
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501(c)(3)
Section of the Internal Revenue Code that designates an organization as charitable and tax exempt. Organizations qualifying under this section include religious, educational, charitable, amateur at [..]
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Bequest
A gift by will to a specific recipient. A charitable bequest is a transfer at death by will to a nonprofit organization for charitable purposes.
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Challenge Grant
A grant this is made on the condition that other monies must be secured, either on a matching basis or via some other formula, usually within a specified period of time, with the objective of stimul [..]
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Charitable Gift Annuity
A gift of cash or securities in exchange for the promise of lifetime income, immediate (CGA) or deferred (DCGA). A charitable gift annuity is a contract between the donor and charity that is part cha [..]
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Charitable Lead Trust
A charitable lead trust (CLT) pays the trust income to a charity first for a specified period, with the principal reverting to the donor or going to other person(s) at the end of the period. If it [..]
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charitable remainder trust
A gift plan that provides income to one or more beneficiaries for their lifetime, a fixed term of not more than 20 years, or a combination of the two. Assets, usually cash, securities, or real esta [..]
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Community Foundation
A tax-exempt, nonprofit, autonomous, publicly supported, nonsectarian philanthropic institution with a long-term goal of building permanent, named component funds established by many separate donors t [..]
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Donor advised fund
Generally, a fund held by a community foundation where the donor, or a person or committee appointed by the donor, may recommend eligible charitable recipients for grants from the fund. The community [..]
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Endowment
A fund in which the principle is kept intact, and only a certain amount of earnings are available for other purposes. Donors may require that the principal remain intact in perpetuity, for a defined [..]
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