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 Service Trust

 

 Service Trust

 

Present Day Meaning of Charity :-                

          Organizations created for the purpose of philanthropic ( bighearted ) rather than financial search .

          A charity is a group designed to benefit society or a specific group of people . Its purpose may be educational , humanitarian , health or religious . A charity goes beyond giving relief to the needy , extending to the promotion of happiness , peace and the support of many worthy causes .

         The law favors charities because they promote goodwill , service , aid and lessen the government's load . They are therefore ordinarily exempt from paying property taxes .

         A charitable gift is something that is donated by an individual or organization with the intent to benefit the public or some section of it as a whole . It is meant for use by an many number of people .

         Similarly , charitable trusts or public trusts are trusts of religious , political , or general social interests , or for the relief of poverty or the advancement of education , health .

         Charities are usually supported by gifts from donors and Government have set forth laws controlling the manner in which funds relating to charities . In addition , the state will generally require charities to unveil their financial structure and condition .

         Charitable corporations are non profit corporations that have been created to minister to the physical needs of the needy or to advance a particular goal , such as the aid of a particular religious group or country . In order to receive a tax - exempt status , such organizations must meet certain criteria .

Usually , charitable corporations have no capital and they obtain their funds primarily from private and public charity . These funds are held in trust to serve the charitable objects of the institutions .

         Religious organizations are also considered to be charitable societies . Religious organization collect donation from the public and develop religious culture among the public .

While some charities may charge a nominal fee for some of their services and still be considered charitable societies , they are organized primarily for the public good and not for profit . 

 

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