To benefit a specific individual or group of individuals

To promote charitable causes and provide public benefit

To manage and preserve assets for future generations

To avoid taxes and protect assets from creditors

Trusts for education, healthcare, or scientific research

Trusts for environmental conservation or animal welfare

Trusts for religious or spiritual purposes

All of the above

Only wealthy individuals or corporations

Anyone with the legal capacity to create a trust

Only non-profit organizations

Only government agencies

The trust must be created in writing

The trust must have a specific charitable purpose

The trust must be irrevocable

All of the above

Charitable Trusts are exempt from income tax

Donors to Charitable Trusts may receive a tax deduction

Both of the above

None of the above

Ensuring that the trust's assets are used for their intended charitable purpose

Complying with complex legal and regulatory requirements

Managing conflicts of interest among trustees and beneficiaries

All of the above

To manage and administer the trust's assets

To ensure that the trust's assets are used for their intended charitable purpose

To represent the interests of the trust's beneficiaries

All of the above

Public Charitable Trusts

Private Charitable Trusts

Community Foundations

All of the above

Public Charitable Trusts are open to public participation, while Private Charitable Trusts are not

Public Charitable Trusts are subject to more stringent regulations than Private Charitable Trusts

Public Charitable Trusts typically have a broader charitable purpose than Private Charitable Trusts

All of the above

To pool charitable funds from donors and distribute them to various charitable causes

To provide administrative and investment services to Charitable Trusts

To promote collaboration and cooperation among Charitable Trusts

All of the above

By state laws and regulations

By federal laws and regulations

By both state and federal laws and regulations

None of the above

Breach of fiduciary duty by trustees

Conflicts of interest among trustees and beneficiaries

Cy-près doctrine

All of the above

A legal principle that allows a court to modify the terms of a Charitable Trust if its original purpose becomes impossible or impracticable

A legal principle that requires trustees to invest the trust's assets in a prudent manner

A legal principle that prohibits trustees from self-dealing

None of the above

Increasing use of donor-advised funds

Growing popularity of community foundations

Increased focus on social justice and environmental issues

All of the above