Archive for the ‘Needs Link’ Category

What does the World Bank do?

Monday, July 27th, 2009

The World Bank is comprised of two institutions — the IBRD (International Bank for Reconstruction and Development) and the IDA (International Development Association) — and collectively has the common goal of providing technical and financial assistance to developing countries around the world.

Basically, the World Bank gives money – in the form of low-interest loans and grants – to developing countries for many different developmental purposes: education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.

What kind of taxpayer are you?

Friday, July 24th, 2009

You have a different filing status (taxpayer type) depending on your living situation. Your filing status helps determine your eligibility for certain credits and deductions and how much those deductions are worth, how you should submit tax information to the government, and how much you need to pay in income taxes. There are five main filing statuses, each generally designating a different level of financial dependence or independence.

“Single” is basically the square one of filing statuses: it means you’re only responsible for yourself.

If you’re married, you and your spouse can choose either the “married filing jointly” or “married filing separately” statuses. If you file separately, you’re basically treated as two “single” individuals, while joint tax returns make the two of you more like one entity.

If you file as “head of household,” it means that you have at least one dependent. A dependent is someone who has someone else (you, in this case) provide at least half of his or her income. Children and elderly or retired parents are the most common dependents, but you can claim anyone who fits this description as your dependent. When you file as head of household, you’re saying that you’re responsible for supporting at least one other person, so in return you have to pay less in taxes yourself. Lastly, you can file as qualifying widow/widower with dependent child; this status also decreases your taxes because you have a dependent to support and you’ve lost a source of income with the death of your spouse.

Nonprofit Articles of Incorporation are…

Thursday, July 23rd, 2009

Articles of incorporation are the basis of a legal document that describes the purpose of a company or a nonprofit organization, what it does, and how it is structured (much like the Constitution of the United States). Drafting articles of incorporation is the first step to starting a nonprofit or a corporation.

Nonprofit Seed Money is…

Thursday, July 23rd, 2009

Seed money is the first round of funds given to a startup company or nonprofit organization to pay for getting it off the ground. For companies, this money is the first investment they receive and while risky, can be highly profitable for the investor if the company does well.

Free Trade is…

Wednesday, July 22nd, 2009

Free trade is when countries can buy and sell goods with one another without any government barriers like tariffs or, at the extreme, an embargo. That doesn’t mean you get stuff for free, it just means the government isn’t adding any extra costs to your purchase.

An Annual Report is…

Monday, July 20th, 2009

An annual report is a document required by the SEC (Securities and Exchange Commission) to be sent to a company’s shareholders at the end of every year. The report details the company’s financial results for the prior 12 months, past years and their outlook for the future. Most nonprofits also publish annual reports.

How much should you tip the waiter?

Monday, July 20th, 2009

Everyone asks themselves the same question once the bill comes: How much should I leave for a tip?

While there is no one correct answer, there are some standards that most people abide by. Generally, leaving an 18-20% tip is generous and is appropriate for good service. A 10% tip would be appropriate for subpar service, and for really bad service you’re not obligated to leave a tip at all. Of course the opposite is true, too – leave as much as you want for awesome service.

The important thing to remember is that much of a waiter’s salary is made up of the tips they receive from each table.

An easy way to calculate the tip is to find 10% by moving the decimal one place to the left ($25.00 becomes $2.50) and then double it for 20% ($5.00).

A Proposal is…

Monday, July 20th, 2009

A proposal is a formal plan presented to a potential buyer or investor. Although there are many specific types of proposals, a basic business proposal might describe what you’re selling, how you plan to get it to the buyer, and anything else that seems important in addition to the cost.

Collateral is…

Friday, July 17th, 2009

Collateral is something of value (e.g. your house, your credit card, your firstborn) that you give to a lender until you’ve repaid your debt. If you don’t repay your debt, the lender gets to keep whatever you’ve put up as collateral. For instance, if you loan your friend $10, you can keep his sunglasses as collateral until he gives you the money back.

Panic Selling is…

Friday, July 17th, 2009

Panic selling is the rapid selling of stocks or bonds in high volume in anticipation of sharply falling prices – usually after unexpected news is announced.