Organizations whose business is to receive money on deposit, cash cheques or drafts, discount commercial paper, make loans, issue promissory notes payable to the bearer, and/or accept payments for bills. Included are banks and savings and loans as well as other institutions that provide an alternative to the traditional banking system; nondepository institutions such as insurance companies, brokerage firms and mutual fund companies that sell financial products; and other types of organizations including businesses that serve as bill payment locations or offer other services related to finance.
Financial organizations that allow people to open and maintain chequing and savings accounts, borrow and exchange money, purchase money orders, cash third-party cheques and engage in other financial transactions.
The purposes for which grant dollars provided by foundations and other funding organizations are designated (e.g., capital support, endowments, research) and/or the types of activities organizations engage in to fund their programs (e.g., nonprofit retail stores).
The above terms and definitions are part of the Taxonomy of Human Services, used here by permission of INFO LINE of Los Angeles.