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Non Profit Org
FRATERNITIES According to Wikipedia, definition of “fraternal” is as follows: “A fraternal benefit society is a non-profit, mutual aid organization that insures members and their families and maintains an active lodge system.” Fraternities symbolize the relationship between their members - akin to brotherhood. Members participate in a democratic unity where everyone has equal benefits and say in society matters. Strong members help the weak or those in need, and there are mutual funds for benefit payments to the members, for education of others about preserving cultural heritage and the interests of the groups.
BENEFIT SOCIETIES A benefit society or mutual aid society is a not-for-profit organization or voluntary association established with purpose to provide mutual aid, benefit or insurance for relief from diverse difficulties to its members. Such organizations may be formally organized with charters and established customs, or may arise ad hoc to meet unique needs of a particular time, place and circumstances. Benefit societies are typically formed on a basis of shared ethnic background, religion, occupation, geographical region or anything else that might be uniting the members. Benefits may include money or assistance for sickness, retirement, education, birth of a baby, funeral and medical expenses, unemployment etc. Benefit societies frequently provide a framework for members and their families - that is socially or educationally based, and provides support and contributes to the community at large.
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This intel was contributed by daria
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May, 2012
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