Charitable Organization

FarlexFinancialDictionary

Organizations created for the purpose of philanthropic rather than pecuniary pursuits. A charity is a group designed to benefit society or a specific group of people. Its purpose may be educational, humanitarian, or religious. A charity goes beyond giving relief to the indigent, extending to the promotion of happiness and the support of many worthy causes. The law favors charities because they promote goodwill and lessen the government’s burdens. They are therefore ordinarily exempt from paying income or property taxes.

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