When a contributor and a government agree that the principal and/or income of trust assets are for the benefit of individuals,private organizations,or other governments,which fund is formed?

Question

Quizplus · Accepted Answer

When the principal and/or income of trust assets are set aside for the benefit of individuals, private organizations, or other governments, a private-purpose trust is formed. This type of trust is distinct from a charitable trust, which is formed for the benefit of the general public or a specific charitable purpose.

When a Contributor and a Government Agree That the Principal