To be organized and operated for purposes which are advantageous to the public interest — these is the IFCJ principal thrust of charities or charitable organizations. They are quite different from other entities which exist mostly to perform business and make a profit. Since they exist for a noble goal, they are in turn supplied relief from taxation .
There ought to be no marked difference in the overall goals of charitable organizations if they’re private foundations or public charities. The principal difference between both is that the way of sourcing their capital. While the prior get their capital from one source like an individual, a household, or a company, the latter obtained theirs in the shape of grants from private foundations, government, and individuals in their capacity. Public charities are permitted to solicit funds from the general public in the kind of actions that will cause grants.
There are three or more purposes which have stayed constant during time and such as poverty aid, education progress, and faith advancement. But, there are different functions which were accepted to be valuable to the community like the erection of public buildings or functions and the maintenance thereof, struggle against community corrosion, security of rights as evidenced by legislation, and relieving the burden of government, amongst others. Some organizations which encourage sports contest will also be categorized as charities.
Certainly, any company that may manifest its significance in providing advantages to the public without requesting payment for its delivery could be thought of a charity. Charitable organizations have a vital part to play in places where governments cannot satisfactorily deal with the needs of their people. They have the capacity to create a difference in the life span of a individual, a community, a nation, as well as the planet.