VOCABULARY:
Charity: Public charities typically fund the operation of a program.
-
Public charities must raise 1/3 of their funds from the general public.
-
Governed by a board that is broadly representative of the communities which they serve.
-
Operate their own charity programs
Foundation: Private foundations typically have one major source of funding and generally make grants to other charitable organizations or to individuals.
-
Private foundations usually get their funding from a small group, usually one family/donor.
-
Governed by a small group; in some cases only one Director.
-
Give money to charities to carry out their programs.
