| Glossary
of Key Terms
Philanthropy - The giving of
ones time, talent or treasure for the common good.
The effort or inclination to increase the well
being of humankind. Love of humankind in general.
Voluntary giving by an individual or group to
promote the common good.
Community Foundation - A non-profit,
publicly supported, philanthropic organization
composed primarily of permanent funds (endowments)
established by many separate donors for the long-term
benefit of the residents of a defined geographic
area. There are nearly 700 community foundations
in the United States of America.
Endowment - Funds intended to
be kept permanently and invested to provide income
for charitable purposes.
Grants/Grantmaking - The giving
of funds for a specific purpose.
Challenge Grant - A grant that
is made on the condition that other money must
be secured, usually within a specific period of
time, with the objective of stimulating fundraising
from additional sources.
Matching Grant - A grant made
with the specification that the amount of the
grant must be matched with other sources of funds.
Assets - The endowment along
with cash and other holdings of a foundation make
up the foundation's assets. The amount of
capital or principal –money, stocks, bonds, real
estate, or other resources – controlled by a foundation
or corporate giving program; generally, assets
are invested and the income is used to make grants.
YAC - A permanent committee
of the community foundation made up of young people
dedicated to effective grantmaking, fund development,
and philanthropy.
Council of Michigan Foundations (CMF)
- CMF is a membership organization of more than
400 foundations and corporation giving programs
that make grants for charitable purposes.
Visit their website: www.cmif.org
MCFYP or Michigan Community
Foundations Youth Project - Started by CMF and
the W.K. Kellogg Foundation to help Michigan community
foundations establish the Youth Advisory Committees
and develop young people as philanthropists and
community volunteers. Visith the MCFYP website:
www.youthgrantmakers.org
For an extensive glossary of philanthropic terms,
visit the Learning to Give website: www.learningtogive.org/materials/vocabulary
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