The Masonic lodge is the basic organisational unit of Freemasonry. The Lodge meets regularly and conducts the usual formal business of any small organisation (approve minutes, elect new members, appoint officers and take their reports, consider correspondence, bills and annual accounts, organise social and charitable events, etc.). In addition to such business, the meeting may perform a ceremony to confer a Masonic degree or receive a lecture, which is usually on some aspect of Masonic history or ritual. At the conclusion of the meeting, the Lodge may hold a formal dinner, or "festive board", sometimes involving toasting and song.