A donation is a gift given, typically to a cause or/and for charitable purposes. The definition of charitable organization, and of charity varies according to the country and in some instances the region of the country in which the charitable organization operates A donation may take various forms, including cash, services, new or used goods as i. Cash usually refers to Money in the form of Currency, such as Banknotes and Coins In Bookkeeping and Finance, A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates e. clothing, toys, food, vehicles, emergency or humanitarian aid items, and can also relate to medical care needs as i. Clothing (also called clothes, accoutrements, accouterments, or habiliments) protects the Human body from extreme Weather This article is about playthings For other uses of the term see Toy (disambiguation. Food is any substance usually composed primarily of Carbohydrates Fats water and/or Proteins that can be eaten or drunk by an Vehicles, derived from the Latin word vehiculum, are non-living Means of transport. Humanitarian aid (also called succour) is material or logistical assistance provided for humanitarian purposes typically in response to humanitarian crises e. blood or organs for transplant. Blood is a specialized Bodily fluid that delivers necessary substances to the body's cells such as nutrients and oxygen—and transports Waste products In Biology, an organ ( Latin: organum, "instrument tool" from Greek όργανον - organon "organ instrument Charitable gifts of goods or services are also called gifts in kind. Gifts in kind (GIK is a kind of charitable giving in which instead of giving money to buy needed goods and services the goods and services themselves are given
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Legal aspects
Donations are gifts given without return consideration. This lack of return consideration means that, in common law, an agreement to make a donation is an "imperfect contract void for want of consideration. Consideration is a central concept in the Common law of Contracts and Contract theory: it is value paid for a promise Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive "[1] Only when the donation is actually made does it acquire legal status as a transfer or property. In civil law jurisdictions, on the contrary, donations are valid contracts, though they may require some extra formalities, such as being done in writing. Civil law or Romano-Germanic law or Continental law is the predominant system of law in the world.
In politics, the law of some countries may prohibit or restrict the extent to which politicians may accept gifts or donations of large sums of money, especially from business or special interest groups (see campaign finance). An interest group (also advocacy group, lobby group, pressure group or special interest group) is an organized collection of people who seek Campaign finance refers to the means by which money is raised for election campaigns.
In countries where there are limits imposed on the freedom of disposition of the testator, there are usually similar limits on donations. A testator is a person who has written and executed a last will and testament that is in effect at the time of his/her death
The person or institution giving a gift is called the donor, and the person or institution getting the gift is called the donee.
Donating in the name of others
It is possible to donate in the name of a third party, making a gift in honor or in memory of someone or something. Gifts in honor or memory of a third party are made for various reasons, such as holiday gifts, wedding gifts, in memory of somebody who has died, in memory of pets or in the name of groups or associations no longer existing. Memorial gifts are sometimes requested by the survivors (e. g. "in lieu of flowers, contributions may be made to ABC Charity"), usually directing donations to a charitable organization for which the deceased was a donor or volunteer, or for a cause befitting the deceased's priorities in life or manner of death. Memorial donations are also sometimes given by people if they cannot go to the ceremonies.
See also
References
- ^ William Blackstone, quoted in "Donation". Charitable contribution deductions for United States Federal Income Tax purposes are defined in section 170(c of the Internal Revenue Code as contributions Fundraising is the process of soliciting and gathering Money or other gifts in-kind by requesting donations from individuals businesses charitable foundations or governmental Catholic Encyclopedia. The Catholic Encyclopedia, also referred to today as the Old Catholic Encyclopedia, is an English-language Encyclopedia published by The Encyclopedia (1913). New York: Robert Appleton Company.
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