Application of Trust Law to Charities Introduction Trust law dealing with investment powers and duties may be applicable to charities in any of three ways: ( 1) the charity may be organized as a charitable trust; (2) the charity, even though organized as a corporation, may hold some funds subject to a trust separate from…
Tag: mutual fund
Three recent decisions of the Ontario courts should be noted by charity trustees. Mutual Fund Investments by Trustees First, in Re Haslam and Haslam [(1994), 114 D.L.R. (4th) 562 (Ont. G.D.)] the issue was whether mutual funds should be held to be permissible trust investments under the Trustee Act [R.S.O. 1990, c. T-23]. They are…
Introduction Most foundations and endowments regard themselves as perpetuities although some, such as The R. Samuel McLaughlin Foundation, have a planned termination date. All others presumably wish to maintain the value of their assets despite inflation and to continue their charitable grants on an equivalent or growing scale in real dollars. To achieve those goals…