Charitable Trusts
A charitable trust is a legal arrangement where a person or organization pools resources to support a charitable cause. The trust holds assets, like money or property, and uses the income generated to fund specific charitable activities, like education, health, or environmental projects. The trust is managed by trustees who ensure the funds are used according to the founder's wishes. Charitable trusts often offer tax benefits to the donor, encouraging philanthropy and community support, while ensuring that funds are used for positive social impact.
Additional Insights
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A charitable trust is a legal arrangement where a person or organization sets aside assets to benefit a specific cause or charity. The assets are managed by trustees, who ensure they are used according to the terms of the trust. Charitable trusts often provide tax benefits for the donor and are designed to support public interests, such as education, health, or environmental protection. They ensure that the donor's intentions are fulfilled, and funds are used effectively to make a positive impact in the community or society at large.