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benefit

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A benefit is something that will provide an advantage for others, something you may receive as compensation from an insurance company oran event to raise money for a worthwhile cause. (noun)

An example of a benefit is the action of creating a community playground.
An example of a benefit is the payment you receive from the insurance company if your house burns down.
An example of a benefit is a dinner intended to raise money for the Susan G. Komen foundation.

To benefit is to be helpful to others or to receive help from others. (verb)

An example of benefit is to make a donation to the community's volunteer fire department. An example of benefit is to receive help after a serious illness.

See benefit in Webster's New World College Dictionary