Other forms: benefits; benefited; benefiting; benefitted; benefitting
A benefit is something that helps you, whether in the form of health insurance provided by an employer, welfare given by the government to those in need, or the benefit of the doubt extended to you by a friend.
The Latin bene- "good" is at the heart of the word benefit, which derives from the Latin benefactum "good deed." When attendance at a party or an event raises money for a charity, the event is referred to as a benefit in that charity's honor.