Charitable Trust (India) by OLL
Prefer the original wording?
Charitable Trust
The purpose for creating this trust is to promote ________________________________
I, ___________, trustor, create a trust fund of the property listed in Schedule A attached and incorporated by this reference, which I have delivered today to ____________.
I hereby give, transfer, and deliver the property described in Schedule A to the trustees in trust for the purposes stated.
The name of this trust shall be the _____________.
Trustor and Trustee, hereby agree as follows:
TRANSFER OF CORPUS
Trustor hereby gives and transfers to trustees the property described in the attached schedule together with its income and profits and any other sums that may be transferred to trustees or their successors pursuant to the terms of this agreement, to hold in trust for the uses and purposes set forth in this agreement.
INVESTMENT AND APPLICATION OF TRUST FUND AND INCOME
The trustees shall hold the trust fund and, in their discretion, invest it or parts of it in securities in which trustees are permitted to invest under applicable laws. The trustees from time to time in their own discretion may invest the income to the charitable uses and purposes described above solely by means of contributions to any charitable corporation, trust, community chest, fund, or foundation which at the time of the contribution by the trustees is one of those organizations described in the IRS Code of the United States, contributions to which are deductible for income tax purposes.
Trustees shall make distributions at such times and in a manner as not to subject the trust to tax and shall not act in any self-dealing as described in Section 4941 of the Internal Revenue Code. Trustees shall not retain any excess business holdings as defined in Section 4943 of the Internal Revenue Code and shall not make any investments as defined in Section 4944 of the Internal Revenue Code nor make any taxable expenditure, which would subject the trust or corporate trustee to tax under Section 4945 of the Internal Revenue Code.
RESTRICTIONS ON USE OF TRUST FUND
The trust fund and the income of the trust fund shall be used only for the purposes described above and shall not be used to benefit or inure any private person or corporation, except for the corporate trustee. No part of this trust shall be used for political purposes.
ADDITIONAL GIFTS TO FUND
Anyone from time to time may contribute to the trust corpus money or property to the trust, subject to the approval of the trustees.
TRUSTEES ACTIONS
The trustees shall not be responsible for any error or decision which is absent of bad faith.
TRUSTEES COMPENSATION
The corporate trustee shall be reimbursed from time to time as decided by the trustor and be paid by the trust. All expenses incurred through the administration of the trust fund shall be paid by the Trustor. The individual trustees shall serve without compensation.
DECISIONS OF THE TRUST
This is a preview. The full template is free on GitLaw.
This document is a template for establishing a charitable trust to hold and manage property for specific philanthropic purposes. It outlines the transfer of assets, investment powers of trustees, and strict compliance with tax-exempt regulations to ensure contributions remain tax-deductible.
5.0 out of 5 on Google
Read reviewsAs seen in
About this template
What is this template?
This document is a trust deed that transfers ownership of specific assets from a trustor to a board of trustees. It contains specific prohibitions against self-dealing under Section 4941 and excess business holdings under Section 4943. It is not a general will or a simple donation letter as it creates a permanent management structure with distinct rules for corporate and individual trustees.
When should you use it?
Use this template when you intend to create a legal entity to manage property for charitable purposes with strict adherence to US Internal Revenue Code tax-exempt requirements. Use a Private Trust Deed instead if the beneficiaries are specific individuals rather than charitable purposes.
What's inside
| Clause | Name | What it does |
|---|---|---|
| TRANSFER OF CORPUS | TRANSFER OF CORPUS | The Trustor transfers property listed in Schedule A, including all income and profits, to the trustees to hold for specified charitable uses. |
| INVESTMENT AND APPLICATION OF TRUST FUND AND INCOME | INVESTMENT AND APPLICATION | Trustees must invest the fund in securities permitted by law and distribute income only to charitable organizations described in the IRS Code. |
| RESTRICTIONS ON USE OF TRUST FUND | RESTRICTIONS ON USE | Prohibits the use of trust funds for political purposes or for the private benefit of any person or corporation except the corporate trustee. |
| TRUSTEES COMPENSATION | TRUSTEES COMPENSATION | Requires individual trustees to serve without pay while the corporate trustee is reimbursed for administration expenses paid by the Trustor. |
| GIFTS IRREVOCABLE | GIFTS IRREVOCABLE | Declares all gifts to the trust permanent and mandates the transfer of remaining funds to another charity if tax-exempt status fails. |
Who it's for
- a trustor seeking to donate property to a permanent fund for distribution to US tax-exempt organizations
- an entity establishing a charitable trust managed by both individual and corporate trustees
- a donor requiring that trust income be restricted from political purposes and private inurement
How long it runs and how it's signed
Law it's drafted under
Frequently asked questions
A template isn't binding on its own - like any contract, it becomes binding once it's properly completed and signed. Templates in our curated library are professionally drafted for US or UK law; review any template before you sign it.
Yes. Chat with GitLaw to edit any section, or make changes directly in the editor.
Yes, read about team plans here.
Describe what you need in the chat and GitLaw will draft it for you.
Templates in our curated library are professionally drafted for US or UK law. The wider library comes from the GitLaw community and public sources - a solid starting point, but check any template fits your situation before you rely on it.
Mostly US and UK law. Some templates use general commercial terms that work across jurisdictions, and many note which law they're written for.
It depends on the situation. Templates work well for routine business agreements. For anything involving significant money, complex IP, employment, or areas you're unsure about, it's worth getting professional advice before you sign. GitLaw provides templates and tools, not legal advice.
Open any template in GitLaw and describe the change you want in the chat — 'make clause 4 mutual' or 'add a 30-day notice period', for example. GitLaw drafts the revised language and shows it as a suggested edit. You accept, reject, or keep editing from there.
Yes. Upload a Word, PDF, or Markdown file and GitLaw will open it in the editor. You can review, edit, or chat with GitLaw about it the same way you would with any template from the library.
Trusted by 5,000+ businesses
From template to signed, in one place
Every template opens in an editor with an AI agent alongside it.
Open
Pick a template and open it. Nothing to download, and no credit card to start.
Free to open
Edit with AI
Describe your situation in chat and the agent adapts the wording, clause by clause.
Tracked changes you can review
Send and sign
Share it for negotiation, then collect signatures without leaving GitLaw.
eSign included
Built for your legal work,
with practicing lawyers
Trained on 5,500+ clauses and specialist areas of law. Built with a standards committee of independent lawyers.
As seen in
Ready to get started?
No sales calls, no credit card. Just chat with GitLaw.
GitLaw provides templates and tools, not legal advice. Templates are a starting point, not a substitute for advice on your situation - for anything significant, speak to a qualified lawyer.