Freemasonry consists of fraternal organisations that trace their origins to the local fraternities of stonemasons, which from the end of the fourteenth century regulated the qualifications of stonemasons and their interaction with authorities and clients. The degrees of freemasonry retain the three grades of medieval craft guilds, those of Apprentice, Journeyman or fellow (now called Fellowcraft), and Master Mason. These are the degrees offered by Craft (or Blue Lodge) Freemasonry. Members of these organisations are known as Freemasons or Masons. There are additional degrees, which vary with locality and jurisdiction, and are usually administered by different bodies than the craft degrees.The basic, local organisational unit of Freemasonry is the Lodge. The Lodges are usually supervised and governed at the regional level (usually coterminous with either a state, province, or national border) by a Grand Lodge or Grand Orient. There is no international, world-wide Grand Lodge that supervises all of Freemasonry; each Grand Lodge is independent, and they do not necessarily recognise each other as being legitimate.Masonic LodgeThe Masonic Lodge is the basic organisational unit of Freemasonry. The Lodge meets regularly to conduct the usual formal business of any small organisation (pay bills, organise social and charitable events, elect new members, etc.). In addition to 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 might adjourn for a formal dinner, or festive board, sometimes involving toasting and song.