Pro Bono

AAA

DEFINITION of 'Pro Bono'

Professional services dispensed on a voluntary basis at no cost to the recipient. Derived from Latin, pro bono means to work for the public good, and is most commonly used in the legal profession. The provider of a pro bono service may generally do so only to a party that is unable to afford the service. In doing so, the provider is perceived to be imparting a benefit for the greater good, rather than for the usual profit motive.

INVESTOPEDIA EXPLAINS 'Pro Bono'

Some financial planners provide pro bono services to non-profit organizations and individuals who have impoverished themselves through financial mismanagement. Pro bono services offered may be of immense value to someone who can avert bankruptcy. For example, a family in financial troubles might need advice, but can not pay for it. Pro bono services are the only help available when the family needs it most.

RELATED TERMS
  1. Prudent Investor Rule

    A guideline that requires a fiduciary to invest trust assets ...
  2. Pro-Tanto

    A Latin phrase meaning "for so much" which is often associated ...
  3. Fiduciary

    1. A person legally appointed and authorized to hold assets in ...
  4. Shingle Theory

    A suitability doctrine first introduced by the Securities and ...
  5. National Association Of Insurance ...

    A nonprofit group that works on behalf of its members to promote ...
  6. Financial Planner

    A qualified investment professional who helps individuals and ...
RELATED FAQS
  1. What does "pro bono" mean?

    The term pro bono is short for the Latin "pro bono publico," which means "for the public good." The term generally refers ... Read Full Answer >>
  2. How does revenue recognition differ between profit and non-profit companies?

    Under the generally accepted accounting principles, or GAAP, for-profit companies recognize revenue as it is earned through ... Read Full Answer >>
  3. What kind of philanthropy did Nathan Rothschild do?

    Nathan Rothschild contributed to many areas of philanthropy in the Jewish community. His family later expanded these charitable ... Read Full Answer >>
  4. What's the largest charitable donation Warren Buffett ever made?

    The most significant charitable donation Warren Buffett ever made is the $37 billion pledge to the Bill and Melinda Gates ... Read Full Answer >>
  5. Can I donate stock to charity?

    Giving stock, instead of cash, as a donation can greatly benefit both parties. You will find that most charities, hospitals, ... Read Full Answer >>
  6. Does the federal government fund any NGOs? Which ones?

    A non-governmental organization (NGO) is a non-profit, citizen-based group that functions independently of government. NGOs ... Read Full Answer >>
Related Articles
  1. Professionals

    Start Your Own Financial Planning Firm

    Read on to find business tips to make your dream a reality.
  2. Retirement

    Financial Planning: It's About More Than Money

    Determine what you need to do now to make a drastic lifestyle change later.
  3. Professionals

    Be A One-Stop Shop For Your Clients

    Offering comprehensive financial services can bring in business, but coordination is the key to success.
  4. Professionals

    Is A Career In Financial Planning In Your Future?

    Take our quiz to find out whether you're suited for this line of work.
  5. Taxes

    Tips on Charitable Contributions: Limits and Taxes

    An overview of the limits and tax deductions of charitable donations.
  6. Investing

    Internet.org: What It Is and How It Works

    Basic Internet access remains out of reach for many in developing nations. Internet.org aims to bring basic Internet access to these countries.
  7. Taxes

    Top Fund-Raising Strategies For Nonprofits

    Top fund-raising strategies for nonprofit organizations
  8. Taxes

    The Top Nonprofit Organizations

    Did you know basketball and volleyball were invented by instructors at a charity?
  9. Personal Finance

    How To Start Your Own Private Foundation

    Private foundations can be time consuming and expensive to set up and operate.
  10. Home & Auto

    Using Life Insurance To Make Charitable Donations

    Your life insurance policy can be a great tool for charitable giving. Find out how.

You May Also Like

Hot Definitions
  1. Multicurrency Note Facility

    A credit facility that finances short- to medium-term Euro notes. Multicurrency note facilities are denominated in many currencies. ...
  2. National Currency

    The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is ...
  3. Treasury Yield

    The return on investment, expressed as a percentage, on the debt obligations of the U.S. government. Treasuries are considered ...
  4. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  5. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  6. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!