Charitable Trust

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Charitable Trust

An irrevocable trust into which the grantor deposits assets, with at least some of the proceeds going to a charity. There are two types of charitable trusts. In a charitable lead trust, the income from the investment of the assets in the trust goes to a designated charity for a certain period of time. After that time expires, the remainder of the assets and income are given to the trust's beneficiaries. In a charitable remainder trust, the income from the assets goes to the beneficiaries for a certain period of time, after which the assets themselves are donated to charity. In the United States, both types of charitable trust receive favorable treatment for estate tax purposes.
References in periodicals archive ?
Under tax rules, private foundations are required to make grants and other distributions each year to further the foundation's charitable purpose.
Undertake an audit of all charitable assets, manage these on a separate register and make publicly available the extant deeds and or other documents relating to the transfer of land and property to the Council for charitable purposes.
THE FLOW OF MONEY FROM HSF TO PHYSICIANS TOTALLY UNDERMINED THE CHARITABLE PURPOSE FOR WHICH HSF WAS CREATED UNDER ITS OWN ARTICLES.
A nonprofit health care provider that accepts reimbursement from private insurers and from the government is entitled to a charitable purpose tax exemption when its property is used to provide healthcare regardless of patients' ability to pay.
ElderTrust's articles of incorporation required it to be operated exclusively for charitable purposes and to acquire, own, maintain and operate hospitals, nursing homes and related health-care facilities, including retirement housing for elderly persons.
Impacts funds set aside for charitable purposes (except in limited cases);
Total disbursements for charitable purposes, which are outlays that foundations make exclusively in support of their tax-exempt purposes, doubled between Tax Years 1993 and 2002.
Require elected officials to disclose any fund raising on behalf of other elected officials, candidates, political parties, ballot measures and other charitable purposes.
The Restatement provides guidance and rationale as to what courts may or may not regard as legitimate charitable purposes and what are appropriate applications of the cy pres doctrine.
The objective is to establish whether charitable funds were correctly used for charitable purposes.
Supreme Court upheld a New York law providing a tax exemption for property used for religious, educational or charitable purposes.
A statement from the commission said: "We need to find out whether funds were applied for charitable purposes.

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