A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, religious or other activities serving the public interest or common good).
The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership.
Financial figures (e.g. tax refund, revenue from fundraising, revenue from the sale of goods and services or revenue from investment) are indicators to assess the financial sustainability of a charity, especially to charity evaluators. This information can impact a charity's reputation with donors and societies, and thus the charity's financial gains.
Charitable organizations often depend partly on donations from businesses. Such donations to charitable organizations represent a major form of corporate philanthropy.
In order to meet the exempt organizational test requirements, a charity has to be exclusively organized and operated.
In order to receive and pass the exemption test, a charitable organization must follow the public interest and all exempt income should be for the public interest. For example, in many countries of the Commonwealth, charitable organizations must demonstrate that they provide a public benefit.
Until the mid-18th century, charity was mainly distributed through religious structures (such as the English Poor Laws of 1601), almshouses and bequests from the rich. Christianity, Judaism and Islam incorporated significant charitable elements from their very beginnings and dāna (alms-giving) has a long tradition in Hinduism, Jainism, Buddhism and Sikhism. Charities provided education, health, housing and even prisons.
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Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain; and with government endeavors that are public initiatives for public good, such as those that focus on the provision of public services. A person who practices philanthropy is a philanthropist. List of philanthropists The word philanthropy comes , from phil- 'love, fond of' and anthrōpos 'humankind, mankind'.
In Ireland and the United Kingdom, housing associations are private, non-profit making organisations that provide low-cost "social housing" for people in need of a home. Any budget surplus is used to maintain existing housing and to help finance new homes and it cannot be used for personal benefit of directors or shareholders. Although independent, they are regulated by the state and commonly receive public funding. They are now the United Kingdom's major providers of new housing for rent, while many also run shared ownership schemes to help those who cannot afford to buy a home outright.
A voluntary group or union (also sometimes called a voluntary organization, common-interest association, association, or society) is a group of individuals who enter into an agreement, usually as volunteers, to form a body (or organization) to accomplish a purpose. Common examples include trade associations, trade unions, learned societies, professional associations, and environmental groups.
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