A charitable fund, foundation or institution.
A prize awarded by a random selection to the holder of a ticket. Door prize tickets are not purchased but are given to event attendees.
A non-cash donation of “goods & services”. This could be your time and expertise or tangible items such as office supplies, equipment, pet food, etc.
An auctioneer or announcer describes the items that are up for bid. Highest bidder wins the item. In the case of art auctions, it’s good practice to use an auctioneer/announcer who is knowledgeable about art. Someone who is enthusiastic and can fully explain the nature of the item up for bid can really boost bids! Generally, the high-value or special collection types of art are put up for live auction.
An organization established for the purpose of engaging in activities that are not intended to make a profit. A non-profit operates with a charter and a board of directors. They are considered a legally recognized entity. You will commonly see non-profit organizations with a 501(c) designation. This is an IRS code given to organizations in the US that indicates they are legally registered and are tax-exempt.
An organization that is devoted to some sort of activity, such as an art guild. Typically, a not-for-profit group does not operate as a legal entity and does not have a charter or board of directors that officially represents the group. As with a non-profit, not-for-profit organizations are not established for the purpose of making a profit.
Prizes are awarded to randomly selected ticket holders who have purchased one or more tickets in order for a chance to win the prizes.
Bids on items are placed in writing. The items are arranged on tables with a “bid sheet” next to them. A starting bid is stated, as are bidding increments (i.e. each bid must be $10 higher than the previous bid). Many events will have both live and silent auction items and generally, silent auction items are lower priced than those at live auction.
Please note that these are our interpretations of the definitions as they apply to this site.