Minnesota Statutes > Chapter 501B > CHARITABLE TRUSTS AND THEIR SUPERVISION


§ 501B.31	Charitable Trusts
§ 501B.32	Private Foundations; Charitable Trusts; Split-Interest Trusts

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Terms Used In Minnesota Statutes > Chapter 501B > CHARITABLE TRUSTS AND THEIR SUPERVISION

Bequest: Property gifted by will.
Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
Devise: To gift property by will.
Donor: The person who makes a gift.
Grantor: The person who establishes a trust and places property into it.
Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44
Trustee: A person or institution holding and administering property in trust.