Articles of Organization For A Trust
Articles of Organization For A Trust
Articles of Organization For A Trust
TheCharitableTrust.DeclarationofTrustmadeasofthedayof,20,by,of,and,of,
whoherebydeclareandagreethattheyhavereceivedthisdayfrom,asDonor,thesumofTen
Dollars($10)andthattheywillholdandmanagethesame,andanyadditionstoit,intrust,asfollows:
First:ThistrustshallbecalledTheCharitableTrust.
Second:Thetrusteesmayreceiveandacceptproperty,whetherreal,personal,ormixed,bywayofgift,
bequest,ordevise,fromanyperson,firm,trust,orcorporation,tobeheld,administered,anddisposed
ofinaccordancewithandpursuanttotheprovisionsofthisDeclarationofTrust;butnogift,bequestor
deviseofanysuchpropertyshallbereceivedandacceptedifitisconditionedorlimitedinsuchmanner
astorequirethedispositionoftheincomeoritsprincipaltoanypersonororganizationotherthana
charitableorganizationorforotherthancharitablepurposeswithinthemeaningofsuchtermsas
definedinArticleThirdofthisDeclarationofTrust,orasshallintheopinionofthetrustees,jeopardize
thefederalincometaxexemptionofthistrustpursuanttosection501(c)(3)oftheInternalRevenue
Code,orthecorrespondingsectionofanyfuturefederaltaxcode.
Third:A.Theprincipalandincomeofallpropertyreceivedandacceptedbythetrusteestobe
administeredunderthisDeclarationofTrustshallbeheldintrustbythem,andthetrusteesmaymake
paymentsordistributionsfromincomeorprincipal,orboth,toorfortheuseofsuchcharitable
organizations,withinthemeaningofthattermasdefinedinparagraphC,insuchamountsandforsuch
charitablepurposesofthetrustasthetrusteesshallfromtimetotimeselectanddetermine;andthe
trusteesmaymakepaymentsordistributionsfromincomeorprincipal,orboth,directlyforsuch
charitablepurposes,withinthemeaningofthattermasdefinedinparagraphD,insuchamountsasthe
trusteesshallfromtimetotimeselectanddeterminewithoutmakinguseofanyothercharitable
organization.Thetrusteesmayalsomakepaymentsordistributionsofalloranypartoftheincomeor
principaltostates,territories,orpossessionsoftheUnitedStates,anypoliticalsubdivisionofanyofthe
foregoing,ortotheUnitedStatesortheDistrictofColumbiabutonlyforcharitablepurposeswithinthe
meaningofthattermasdefinedinparagraphD.Incomeorprincipalderivedfromcontributionsby
corporationsshallbedistributedbythetrusteesforusesolelywithintheUnitedStatesorits
possessions.Nopartofthenetearningsofthistrustshallinureorbepayabletoorforthebenefitofany
privateshareholderorindividual,andnosubstantialpartoftheactivitiesofthistrustshallbethe
carryingonofpropaganda,orotherwiseattempting,toinfluencelegislation.Nopartoftheactivitiesof
thistrustshallbetheparticipationin,orinterventionin(includingthepublishingordistributingof
statements),anypoliticalcampaignonbehalfoforinoppositiontoanycandidateforpublicoffice.
B.Thetrustshallcontinueforeverunlessthetrusteesterminateitanddistributealloftheprincipaland
income,whichactionmaybetakenbythetrusteesintheirdiscretionatanytime.Onsuchtermination,
assetsshallbedistributedforoneormoreexemptpurposeswithinthemeaningofsection501(c)(3)of
theInternalRevenueCode,orthecorrespondingsectionofanyfuturefederaltaxcode,orshallbe
distributedtothefederalgovernment,ortoastateorlocalgovernment,forapublicpurpose.The
donorauthorizesandempowersthetrusteestoformandorganizeanonprofitcorporationlimitedto
theusesandpurposesprovidedforinthisDeclarationofTrust,suchcorporationtobeorganizedunder
thelawsofanystateorunderthelawsoftheUnitedStatesasmaybedeterminedbythetrustees;such
corporationwhenorganizedtohavepowertoadministerandcontroltheaffairsandpropertyandto
carryouttheuses,objects,andpurposesofthistrust.Uponthecreationandorganizationofsuch
corporation,thetrusteesareauthorizedandempoweredtoconvey,transfer,anddelivertosuch
corporationallthepropertyandassetstowhichthistrustmaybeorbecomeentitled.Thecharter,
bylaws,andotherprovisionsfortheorganizationandmanagementofsuchcorporationanditsaffairs
andpropertyshallbesuchasthetrusteesshalldetermine,consistentwiththeprovisionsofthis
paragraph.
C.InthisDeclarationofTrustandinanyamendmentstoit,referencestocharitableorganizationsor
charitableorganizationmeancorporations,trusts,funds,foundations,orcommunitychestscreatedor
organizedintheUnitedStatesorinanyofitspossessions,whetherunderthelawsoftheUnitedStates,
anystateorterritory,theDistrictofColumbia,oranypossessionoftheUnitedStates,organizedand
operatedexclusivelyforcharitablepurposes,nopartofthenetearningsofwhichinuresorispayableto
orforthebenefitofanyprivateshareholderorindividual,andnosubstantialpartoftheactivitiesof
whichiscarryingonpropaganda,orotherwiseattemptingtoinfluencelegislation,andwhichdonot
participateinorintervenein(includingthepublishingordistributingofstatements)anypolitical
campaignonbehalfoforinoppositiontoanycandidateforpublicoffice.Itisintendedthatthe
organizationdescribedinthisparagraphCshallbeentitledtoexemptionfromfederalincometaxunder
section501(c)(3)oftheInternalRevenueCode,orthecorrespondingsectionofanyfuturefederaltax
code.
D.InthisDeclarationofTrustandinanyamendmentstoit,thetermcharitablepurposesshallbelimited
toandshallincludeonlyreligious,charitable,scientific,literary,oreducationalpurposeswithinthe
meaningofthosetermsasusedinsection501(c)(3)oftheInternalRevenueCode,orthecorresponding
sectionofanyfuturefederaltaxcode,butonlysuchpurposesasalsoconstitutepubliccharitable
purposesunderthelawoftrustsoftheStateof.
Fourth:ThisDeclarationofTrustmaybeamendedatanytimeortimesbywritteninstrumentor
instrumentssignedandsealedbythetrustees,andacknowledgedbyanyofthetrustees,providedthat
noamendmentshallauthorizethetrusteestoconducttheaffairsofthistrustinanymannerorforany
purposecontrarytotheprovisionsofsection501(c)(3)oftheInternalRevenueCode,orthe
correspondingsectionofanyfuturefederaltaxcode.AnamendmentoftheprovisionsofthisArticle
Fourth(oranyamendmenttoit)shallbevalidonlyifandtotheextentthatsuchamendmentfurther
restrictsthetrustees'amendingpower.AllinstrumentsamendingthisDeclarationofTrustshallbe
noteduponorkeptattachedtotheexecutedoriginalofthisDeclarationofTrustheldbythetrustees.
Fifth:AnytrusteeunderthisDeclarationofTrustmay,bywritteninstrument,signedand
acknowledged,resignhisoffice.Thenumberoftrusteesshallbeatalltimesnotlessthantwo,and
wheneverforanyreasonthenumberisreducedtoone,thereshallbe,andatanyothertimetheremay
be,appointedoneormoreadditionaltrustees.Appointmentsshallbemadebythetrusteeortrustees
forthetimeinofficebywritteninstrumentssignedandacknowledged.Anysucceedingoradditional
trusteeshall,uponhisorheracceptanceoftheofficebywritteninstrumentsignedandacknowledged,
havethesamepowers,rightsandduties,andthesametitletothetrustestatejointlywiththesurviving
orremainingtrusteeortrusteesasiforiginallyappointed.
Noneofthetrusteesshallberequiredtofurnishanybondorsurety.Noneofthemshallberesponsible
orliablefortheactsoromissionsofanyotherofthetrusteesorofanypredecessororofacustodian,
agent,depositaryorcounselselectedwithreasonablecare.
Theoneormoretrustees,whetheroriginalorsuccessor,forthetimebeinginoffice,shallhavefull
authoritytoacteventhoughoneormorevacanciesmayexist.Atrusteemay,byappropriatewritten
instrument,delegatealloranypartofhisorherpowerstoanotherorothersofthetrusteesforsuch
periodsandsubjecttosuchconditionsassuchdelegatingtrusteemaydetermine.
ThetrusteesservingunderthisDeclarationofTrustareauthorizedtopaytothemselvesamountsfor
reasonableexpensesincurredandreasonablecompensationforservicesrenderedintheadministration
ofthistrust,butinnoeventshallanytrusteewhohasmadeacontributiontothistrusteverreceiveany
compensationthereafter.
Sixth:Inextensionandnotinlimitationofthecommonlawandstatutorypowersoftrusteesandother
powersgrantedinthisDeclarationofTrust,thetrusteesshallhavethefollowingdiscretionarypowers.
a)Toinvestandreinvesttheprincipalandincomeofthetrustinsuchproperty,real,personal,ormixed,
andinsuchmannerastheyshalldeemproper,andfromtimetotimetochangeinvestmentsasthey
shalldeemadvisable;toinvestinorretainanystocks,shares,bonds,notes,obligations,orpersonalor
realproperty(includingwithoutlimitationanyinterestsinorobligationsofanycorporation,association,
businesstrust,investmenttrust,commontrustfund,orinvestmentcompany)althoughsomeorallof
thepropertysoacquiredorretainedisofakindorsizewhichbutforthisexpressauthoritywouldnotbe
consideredproperandalthoughallofthetrustfundsareinvestedinthesecuritiesofonecompany.No
principalorincome,however,shallbeloaned,directlyorindirectly,toanytrusteeortoanyoneelse,
corporateorotherwise,whohasatanytimemadeacontributiontothistrust,nortoanyoneexcepton
thebasisofanadequateinterestchargeandwithadequatesecurity.
b)Tosell,lease,orexchangeanypersonal,mixed,orrealproperty,atpublicauctionorbyprivate
contract,forsuchconsiderationandonsuchtermsastocreditorotherwise,andtomakesuchcontracts
andenterintosuchundertakingsrelatingtothetrustproperty,astheyconsideradvisable,whetheror
notsuchleasesorcontractsmayextendbeyondthedurationofthetrust.
c)Toborrowmoneyforsuchperiods,atsuchratesofinterest,anduponsuchtermsasthetrustees
consideradvisable,andassecurityforsuchloanstomortgageorpledgeanyrealorpersonalproperty
withorwithoutpowerofsale;toacquireorholdanyrealorpersonalproperty,subjecttoanymortgage
orpledgeonorofpropertyacquiredorheldbythistrust.
d)Toexecuteanddeliverdeeds,assignments,transfers,mortgages,pledges,leases,covenants,
contracts,promissorynotes,releases,andotherinstruments,sealedorunsealed,incidenttoany
transactioninwhichtheyengage.
e)Tovote,togiveproxies,toparticipateinthereorganization,mergerorconsolidationofanyconcern,
orinthesale,lease,disposition,ordistributionofitsassets;tojoinwithothersecurityholdersinacting
throughacommittee,depositary,votingtrustees,orotherwise,andinthisconnectiontodelegate
authoritytosuchcommittee,depositary,ortrusteesandtodepositsecuritieswiththemortransfer
securitiestothem;topayassessmentsleviedonsecuritiesortoexercisesubscriptionrightsinrespectof
securities.
f)Toemployabankortrustcompanyascustodianofanyfundsorsecuritiesandtodelegatetoitsuch
powersastheydeemappropriate;toholdtrustpropertywithoutindicationoffiduciarycapacitybut
onlyinthenameofaregisterednominee,providedthetrustpropertyisatalltimesidentifiedassuchon
thebooksofthetrust;tokeepanyorallofthetrustpropertyorfundsinanyplaceorplacesinthe
UnitedStatesofAmerica;toemployclerks,accountants,investmentcounsel,investmentagents,and
anyspecialservices,andtopaythereasonablecompensationandexpensesofallsuchservicesin
additiontothecompensationofthetrustees.
Seventh:Thetrustees'powersareexercisablesolelyinthefiduciarycapacityconsistentwithandin
furtheranceofthecharitablepurposesofthistrustasspecifiedinArticleThirdandnototherwise.
Eighth:InthisDeclarationofTrustandinanyamendmenttoit,referencestotrusteesmeantheoneor
moretrustees,whetheroriginalorsuccessor,forthetimebeinginoffice.
Ninth:Anypersonmayrelyonacopy,certifiedbyanotarypublic,oftheexecutedoriginalofthis
DeclarationofTrustheldbythetrustees,andofanyofthenotationsonitandwritingsattachedtoit,as
fullyashemightrelyontheoriginaldocumentsthemselves.Anysuchpersonmayrelyfullyonany
statementsoffactcertifiedbyanyonewhoappearsfromsuchoriginaldocumentsorfromsuchcertified
copytobeatrusteeunderthisDeclarationofTrust.Noonedealingwiththetrusteesneedinquire
concerningthevalidityofanythingthetrusteespurporttodo.Noonedealingwiththetrusteesneed
seetotheapplicationofanythingpaidortransferredtoorupontheorderofthetrusteesofthetrust.
Tenth:ThisDeclarationofTrustistobegovernedinallrespectsbythelawsoftheStateof.
Trustee
Trustee