DEED OF TRUST FOR HELPING POOR CHILDREN
THIS DEED OF TRUST MADE ON THIS...................................... day of ................................. at............................ between...................................................................... presently residing at.................................................... (hereinafter called the Author of the Trust) of the one part and............................................................................................................ presently residing at...................................................................................................... which expression shall whereever the context so admits or requires be deemed to include the said Trustees and the survivor or survivors of them and the heirs, executors and administrators of such survivor, their or his assigns and the Trustees, Trustee for the time being of these presents of the other Part.
WHEREAS the Author of the Trust desires to establish in perpetuity a fund with the object of (1) Helping poor children by sponsoring them for higher education. (2) Sponsoring visits of school-children selected from various schools (3). By providing school uniforms, books, fee etc. (4) Vocational training, free-coaching for various courses. (5) Old age home. (6) Shelter for homeless children. (7) Medical facility for poor/rural people. (8) Plantation. (9) Sports and (10). To render help and assistance to victims of natural calamities.
AND WHEREAS for the aforesaid purpose of giving effect to such desire the Author of the Trust has delivered Rs............. (Rs................. only) to the Trustees with the intention that they shall hold the said sum and income arising therefrom upon Trust and subject to the power and provisions hereinafter declared of and concerning the same which the Trustees have agreed to do.
AND WHEREAS the Trustees have agreed individually and collectively to act as such and have already taken possession of the said cash in pursuance of the aforesaid desire of the Author of the Trust, who has irrevocably transferred and handed over the same to the trustees for the purposes of the Trust as aforesaid.
NOW THEREFORE THIS DEED OF TRUST DECLARES AND WITNESSETH-
1. That in pursuance of the premises above the Author of the Trust as settlor doth hereby convey unto and settle upon the trustee the cash to hold the same upon Trust and the Trustees do each of them doth hereby admit and acknowledge the transfer to them with powers and subject to the uses mentioned hereinafter.
2. That the name of the Trust shall be.................................. Public charitable trust with its registered office at...............................................................................
3. That the trust has been established with the object of (1) helping poor children by sponsoring them for higher education. (2) Sponsoring visits of school children selected from various schools. (3) By providing school uniforms, books, fee etc. (4) Vocational training, free-coaching for various courses. (5) Old age home.
(6) Shelter for homeless children. (7) Medical facility for poor/rural people. (8) Plantation. (9) Sports and (10) To render help and assistance to victims of natural calamities.
4. That the Trustee shall stand possessed of cash hereby conveyed and settled upon and shall use and apply the interest, the profit and other income derived thereby for the purpose and object of the Trust as aforesaid.
5. That the cash hereby conveyed to the Trustees shall form the corpus of the Trust property but the Trustees shall have power from time to time to increase or decrease the corpus of the Trust excepting in exceptional circumstances of need and only on the unanimous decision in that regard of the Board of Trustees at the material time.
6. That the Trust shall be governed by a Board of Trustees. The Board of Trustees for the time being shall constitute of trustees hereinbefore mentioned which is hereby authorized and empowered to nominate any other person as trustee as long as the total number of the trustees at any time does not exceed five. In the event of death, incapacity, insolvency, resignation or refusal on the part of any trustee to act as such, the remaining trustees shall be entitled to nominate any other person as they think fit and proper to act as trustee in place of the trustee so dying, incapacitated, declared insolvent, resigning or refusing to act as such. The nomination of any person as a trustee shall be either unanimous or by a majority decision and in the event of the trustees being equally divided on the nomination of any person, the decision in the matter of the managing trustee shall be final and conclusive.
7. That the administration of the trust hereby constituted and the entire control, supervision, regulation, management of the trust property and even the application of the entire or a part of the income and the profits thereof as also of all the donations and contributions and subscriptions, if any, received by it shall vest in the uncontrolled discretion of the Board of Trustees subject however always to the provisions contained as hereinbefore.
8. That the Board of Trustees may frame rules and regulations for the administration of the Trust and for carrying out the purpose and object thereof and the same may be varied, altered, substituted or added to from time to time by a unanimous decision of the Board of Trustees with a view to introduce more effective administration and carrying out the purpose and the object of the trust. Such rules may specifically provide the basis or criterion of the selection of the students for the award of the scholarships in a most benefiting manner, and may even make provision for the selection of the students for grant of the scholarships by the Education Department of the State Government in which the engineering or medical college or university is situate, or else by the college or the university concerned, subject however always to the condition that in no case such selection shall be done on the basis of the caste, creed or religion to which any student belongs.
9. That the Board of Trustees shall have power to accept donations from other in cash only either with or without any special conditions attached thereto PROVIDED that any such condition does not contravene the provisions of clause 3 thereof. Subject to the same restriction, the Board of Trustees may at any time invite and receive from any person or persons whomsoever periodical contributions or subscriptions for the support and benefit of the trust hereby constituted and declared.
10. That the Board of Trustees may elect or nominate any one of them as the Managing Trustee for any period of time, but the first Managing Trustee shall be................................... and she shall hold that office and position upto the time of her death, incapacity, insolvency, resignation or refusal to act as such.
11. That the first meeting of the Board of Trustees shall be held within three months of the date of the execution of this deed and shall be summoned by the Author of the trust by giving at least seven days notice in writing to all the trustees to be held at such place and time as may be specified in the notice and in that meeting all relevant matters relating to the trust shall be considered in all possible details and particularly the ways and the manner to give effect to the provisions of the deed of trust and to attain the object and purpose of this trust.
12. That the trustees are hereby authorized and empowered to appoint a secretary to carry out the duties assigned to him in relation to the execution of this trust and to pay to him out of the trust fund such salary as the trustees for the time being may think fit, provided that if any one of the trustees be appointed as the secretary, he shall not be entitled to receive nor shall be paid any salary. The trustees may also appoint such staff as they deem expedient and necessary for the purpose of the trust at such salary as they may decide upon in each case.
13. That subject to the provisions hereinbefore contained the trustee shall not keep in hand either themselves or together with the secretary and/or any other employee of the trust or any other person at any time more than Rs......................... in cash belonging to the trust fund and all cash belonging to the trust shall be deposited with the............................. bank or any other scheduled Bank which the trustees may decide upon. The banking account relating to the trust fund shall be operated under the signatures of at least two trustees out of which the Managing Trustee shall be one, but if at any time, there is no Managing Trustee of the fund as elected or nominated as such then the banking account relating to the trust shall be operated only under the signatures of all the trustees of the fund at the material time.
14. That the trustees may in their uncontrolled discretion deposit for safe custody any documents or securities relating to or forming part of the trust property with the Bank or banks as aforesaid on payment of such charges therefor, if any, as may be agreed upon and found expedient in the interest of the trust.
15. That the meeting of the Board of Trustees may be held at such time, at such place and on such dates as may be agreed upon by the trustees. Such meetings may be summoned by any one or more of the trustees by giving at least seven days notice in writing to all the trustees, specifying the time, place and the date of the meeting, and also indicating the purpose of such meeting. But a meeting of the Board of Trustees shall be held once at least in every year to consider and adopt the accounts of the trust hereby constituted and the report concerning those accounts as prepared by a Chartered Accountant after a audit thereof.
16. That the true and proper accounts of all the receipts and disbursements relating to the trust hereby constituted shall be kept by the trustees, the secretary thereof and/or the employee(s) of the trust, who have been assigned the duty in that regard. On or after the 31st day of March each year an income and expenditure account for the whole year upto that date and a balance sheet of the assets and liabilities as on that date relating to the affirs of the trust shall be prepared latest by the 30th day of June of that year. These accounts and the balance sheet shall be duly audited and examined by a Chartered Accountant, which may be ‘engaged by the Board of Trustees for the purpose of such audit on such remuneration as they may deem necessary and desirable. As soon as may be after such audit, a meeting of the Board of Trustees shall be held at which the accounts of the trust hereby constituted and the report of the auditor concerning the same shall be examined and adopted.
17. That if trustees differ with one another in respect of any such matter with reference to which they enjoy discretion, the opinion of the majority of the trustees present and voting at the meeting shall prevail and shall be binding on all the trustees and in the event of the trustees being equally divided, the view taken by the Managing Trustee shall prevail in deciding such matter.
IN WITNESS WHEREOF The Author of the Trust and the Trustees hereto have set their respective hands on this Deed of Trust in the presence of witnesses at.................................... on the day and year first above written.
Witnesses
...................... Author of the Trust
Address: 								...................... (Trustee)
Address: 								...................... (Trustee)
..................... (Trustee).