Trust Deed’s format is given below.
XYZ TRUST (INDIA)
THIS INDENTURE is made on this ___ day of ____ 20XX by ABC, S/o. ________ residing at ________________, hereinafter, called The Author and Founder of the Trust.
WHEREAS the Author is desirous of creating a public charitable trust for the purpose, ends and objects hereinafter set forth.
WHEREAS the Founder has set apart a sum of Rs. _______ as a nucleus towards the fund of the trust.
WHEREAS with the mutual understanding of the trustees, the said trust deed orally running by the trustees since ____ day of ________ 20XX. Now in order to avoid any future controversy regarding the said trust, the trustees have decided to executed this document and reduce oral trust deed dated _____ day of _________20XX into writing.
WHEREAS the trustees have decided to celebrate the annual day/foundation day of the said trust on ______ November every year.
NOW THIS DEED WITHNESSETH AS FOLLOWS:-
The name of the Trust shall be XYZ TRUST (INDIA).
2. PLACE OF TRUST
The trust shall hold its registered office at ___________________________ and a branch office at _______________________, and it may be shifted to any other place in India of the Board of Trustees desires.
Branch office/ officers, if deemed necessary, may be opened at any other place/ places in India as the Board of Trustees may deem expedient and proper in accordance with the decision of taken by the Board from time to time, provided the activities and operation of the trust shall be within the Union States and Union territories of India.
3. OBJECT OF THE TRUST
The object of the trust is to open to all irrespective of caste, creed, colors, religion, area, sex, etc. They are as under:-
- Educational development
To establish, organize, consolidate, start, re-start, develop, take over, conduct, equip, endow, improve, alter, administer, extend, run, manage, maintain with or without charges and with or without aid, laborites, hostels, educational libraries, reading rooms, technical help for all branches of science, engineering, medical, legal, management, accountancy, music, painting, spiritual, moral, cultural, ethical, social, sculptural, computer, physical, audio-visual and all sort of academic learning including both formal and non-formal knowledge.
Such also includes the organization of various educational courses/trainings related to many different streams for professional, moral, social and educational knowledge and awareness. Students/ candidates/ persons taking part in such courses/ trainings will be issued the identity cards on enrollment in such course/ training and certificates on competition of the same.
- Uplift People socially and economically backward
To promote the welfare of the socially and economically down trodden people specially in the villages and to help the unemployed youth in all possible ways in order to make themselves reliant and self-supportive and for the upliftment of scavengers, cobblers, riksha pullers, construction labors, etc., in India.
- Medical attention
To establish, maintain, run, develop, improve, extend, grant donations for and to aid and assist in the establishment, maintenance, running, development, improvement, and extension of hospitals, clinics, dispensaries, maternity homes, leper homes, sanatoriums and homes for the blind, deaf and dumb as well as those mentally retarded and similar institutions affording treatment, cure, rest recuperation and other advantages to alleviate the suffering of humanity.
To create awareness among the public regarding the problems of the vulnerable groups and initiates welfare activities to eradicate social injustice.
- Environmental awareness
To initiate actions and awareness programs for the protection and improvement of environment.
- Promotion of Folk Arts and Culture
To promote and organize various courses related to folk arts, cultural activities, various arts such as Martial arts, Judo, Karate, Tai commando, etc.,. The same shall be conducted and completed in pursuance of various courses/ trainings from professionals and experts in the relevant field. Students/ candidates/ persons taking part in such courses/ trainings will be issued the identity cards on enrollment in such course/ training and certificates on competition of the same.
To organize street theater and theater folk arts and cultural programs in order to proclaims the social awareness.
Any of the object shall not be profit motive and further that the Trust will not function in the nature of conduction of business activity and for the purpose of profit.
4. BOARD OF THE TRUST
- __________S/o ___________ R/o _______________________.
- __________W/o__________ R/o ________________________.
- __________S/o___________ R/o ________________________.
- ____________D/o________________ R/o _________________
- ____________S/o ______________R/o __________________
- The CHIEF PATRON of the Trust shall be ___________________ .
__________ S/o__________, R/o__________________ shall be the Managing Trustee and he shall be entitled to continue as such during his lifetime. He shall carry on the day to day affairs of the Trust.
- The said Managing Trustee shall be entitled to nominate the next Managing Trustee for life. If a vacancy arise in the office of the Managing Trustee either by failure to nominate a successor or by non-acceptance of the office by the nominee or otherwise by efflux of time, the remaining trustees shall elect a Managing trustee on such terms for such period as may by specified by a Resolution of the Board of Trustees.
- ___________, S/o_______________ , R/o_______________ shall be the Financial Trustee.
- In the case of death, resignation, etc. of the Trustee, the Managing Trustee has the power to appoint any person to his/her place as Trustee.
- The Number of trustees including the Managing Trustee shall not exceed ____ at any time. The terms of the office of all the other trustees herein are ____ years. The Managing trustee as well as the other trustees shall be entitled for reappointment. The Managing trustee has the power to appoint and remove any person from the office of the Trustees subject to the ceiling at any time, as he desires.
- Apart from the trustees, expert members are to be chosen by the trustees collectively pertaining to various specialized areas.
- The other employees and staff needed to assist the working of the trust will also be chosen by the trustees collectively.
6. ADVISORY BOARD
The Board of Trustees shall appoint Advisory Board members as and when in accordance with the project requirements. They are not entitled to vote for resolution but they can attend the board meeting.
7. LEGAL TEAM
The legal team empaneled includes the following advocates:
- Advocate ____________
- Advocate ____________
- Advocate ____________
8. FUNCTIONS OF ADVISORY BOARD
Advisory Board members shall be the consultants of the projects. They shall endeavor to fulfill the objectives of the organization. The Advisory Board member will assist the organization to get Schemes within the preview and with intent to fulfill the objectives of the Trust.
9. MEETING OF THE BOARD
- In addition to the annual meeting, the Board may meet from time to time.
- The Managing Trustee of the Trust shall convey the meeting and the Managing Trustee shall preside over the meeting as the chairperson.
- The Board shall transact any business that may be specified in the Agenda otherwise agree to by the Board members.
- The Board shall also appoint an auditor at the annual for the subsequent year.
- One half of the Board members or four members whichever is less shall constitute the Quorum.
- The Majority of the Board shall carry out all decisions, but in the event of equality votes, the chairman presiding over the meeting shall have a casting vote.
- The meeting of the Board shall be convened after giving at least Two week`s notice unless those who are entitled to receive notice agree to accept a shorter notice.
- The Managing Trustee may invite other interested in the work of the Trust to attend the meeting of the Board, but they shall not be entitled to vote thereat.
10. THE BOAD OF TRUSTEES SHALL HAVE POWERS
- To raise funds to support the aforementioned Trust activities from and within India and Abroad.
- To solicit, receive, hold and disburse funds to promote the objects stated above and to hold funds and investments in trust for the said objects.
- To open, operate and close accounts of any description with any bank or banks for the trust.
- To appeal for and raise funds, grants and loans as the Trustees may think fit.
- To take on lease or acquire property by purchase or otherwise promote the objects of the Trust.
- To purchase, take on lease, lease and license, hire or otherwise acquire and hold , manage, administer and otherwise deal with any movable and immovable properties, rights and privileges and the Board of Trustees may deem necessary, expedient or desirable for the promotion of any of the objects of the trust.
- To set, alienate, lease. Give out on lease or license, mortgage, charge, hypothecate, transfer, surrender, dispose of and/or otherwise deal with all or any of the properties, funds and assets of the Trust if any in the future without profit motive and only in the rarest occasion as the Trust Board may feel deem necessary, expedient or desirable for the promotion of any of the Trust.
- To carry on such other as may be incidental to the promotion of any of the aforesaid objects or any other ancillary objects related to the main objects but not with the intentions of earning profit, as may consider for by the Trustees.
- It has been agreed that the income and contributions that may be received shall be spent towards the promotion of the objects of the Trust and any incidental work connected and no portion of it will be utilized for payments to trustee by way of profit, interest, dividend, etc.
- To enter into any contract or agreement in India or outside the territory of India with any such organization deem fit for the promotion of the objects of the trust or any other transaction for the purpose of promotion any of the object of the Trust.
11. THE MANAGING TRUSTEE AND FINANCIAL TRUSTEE SHALL HAVE THE POWERS
- To have control over the assets of the trust.
- To Institute, conduct, defend, compound, without compromise refer to arbitration`s or abandon any legal or legal proceedings, claim or claims, or dispute by or against the trust or trustees or against the officers or employees, concerning the affairs of the trust and to sign and verify vacillate claims. Plaints, statement affidavits and refer proceedings before all courts and Government authorities both Central and State.
- To appoint from time to time and at any time to suspend, dismiss, remove or discharge any person under his control including clerks, accountants, field staff and other employees with such powers and duties and upon such terms, duration of office, remuneration or otherwise as the Board of Trustees shall think proper.
- To do such acts or deed, consistent with powers concerned herein and such other acts authorized by the board of trustees by resolutions.
- The Managing Trustee can delegate such work or works to other trustees, which are to be done by him/her.
- In the case of absence of the Managing Trustee and is unable to attend the meeting, the Financial Trustee shall have the power to nominate the member trustee who will take all the actions for such period of his/her absence.
- The Managing Trustee has the power to invite any other person for the Board meeting as an observer at the timer as he/she wishes.
- Power to manage the bank account of the trust vests in Managing Trustee and Financial Trustee.
- The other Trustees has the power to attend every meeting, caste vote and other functions and powers as authorized by the Managing Trustee and Financial Trustee.
12. INVESTMENT OF TRUST FUNDS
The Board shall have power to invest the corpus or the income of the Trust at their discretion in accordance with the provisions of Section 11 (5) read with Section 13 (1) (d) of the Income Tax Act, 1961.
13. ACCOUNTS AND AUDIT
The accounts of the trust shall be regularly maintained every year, and the accounts shall be closed by 31st March every year and the same shall be audited by a qualified Chartered Accountant.
14. REGULATION AND BY-LAW
The board shall be entitled to frame, modify, amend, alter or repeal rules, regulations and by-laws for the purpose of efficient administration for the trust, provided that in the event of any inconsistency or conflict in such rules/by-laws the rules and by laws framed may be modified, amended, altered or repealed as per the decision of the majority of the Board of trustees.
The Trust formed shall be IRREVOCABLE.
The Trust is not having any Movable and Immovable property/ies at the time of registration except the corpus fund of Rs. _________
- While this Trust shall be irrevocable, the Board may amend the clauses relating the membership and the management at a duly convened meeting of the Board by a resolution passed by a 2/3rd majority, for which at least two week’s notice has to be given.
- If any alteration/amendment were necessary, the same shall be affected through supplementary deed/deeds with the approval of the commissioner of Income tax.
- The Trustees shall have powers to effect amendments to the Trust deed, but it would not extend to altering the basic character/ objects of the trust and further, no such amendments which may proved to be repugnant to the provisions of Section 2(15), 11, 12, 13 and 80G of the Income tax Act, 1961.
In the event of dissolution of the trust, the assets/liabilities of the trust shall be transferred to a trust having similar objects and enjoying exemption u/s 80 G of the Income Tax Act at the time of such transfer. And in no event it shall be appropriated either by the trustee or any one related to the trustees and members of the managing committee/governing body.
I wish to register this document at Sub Registrar’s office at Jammu South.
IN WITNESS WHERE OF THE AUTHOR AND FOUNDER OF THE TRUST has set his hand on the day, month year first above written.
Drawn and Drafted on the instructions of the parties by