Charitable trust

Definition and stakes

1911 Encyclopædia Britannica (1911)

“ This doctrine is only applied where “a general intention of charity is manifest” in the will, and not where one particular object only was present to the mind of the testator. Thus, a testator having left money to be applied in building a church in a particular parish, and that having been found to be impossible, the fund will not be applied cy-près, but will go to the next of kin.
In the United States, charitable trusts have become more frequent as the wealth of the country has progressed, and are regarded with increasing favour by the courts.
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Source: Wikisource

Gerald Stanley Lee,  Crowds

“ The moment we see the Trusts in the hands of the strong men, the men who are unwilling to slump back into mere money-making, and who face daily with hardihood and with joy the feat of weaving into business several strands of value at once, making things and making money and making men together, the Trust will become a vast machine of human happiness, lifting up and pulling on the world for all of us day and night. ”
Source: Gutenberg

Portrait of Arthur Cheney Train Arthur Cheney Train,  The "Goldfish"

“ It will, of course, be said in reply that the world is full of charitable institutions supported entirely by the prosperous and successful. That is quite true; but it must be remembered that they are small proof in themselves of the amount of real self-sacrifice and genuine charity existing among us. ”
Source: Gutenberg

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