Trusts at the University

The purpose of the gift

It is essential that every donor clearly identifies the purpose of his or her gift. A clear statement of the purpose of every gift ensures that the University can follow the stated wishes of all donors.

If a donor specifies that a perpetual charitable trust is to be established, the University must hold the trust capital and expend the trust income for the purpose and in the manner specified by the donor.

Where a perpetual charitable trust is established by a gift to the University, over time the value of the trust capital should increase. As a result, the trust income may exceed the amount needed to fulfil the purpose originally specified by the donor. In that situation, difficulties arise if the donor does not specify a sufficiently broad purpose at the time of making the original gift.

 

 

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