Although trusts have existed for hundreds of years— they trace their roots to sixteenth century England—many people still ask: What is a trust? Very often, they are misunderstood as being old-fashioned, dated options only for the most affluent. There are many types of trusts, and they can be complex.
Just as an individual goes through life cycles, so does a charity. From the start-up phase to adopting a strategic vision to looking at ways to grow the charity, there are many steps to consider at each important phase of the charity’s lifetime.Start-upA first critical phase in the life cycle of a charitable organization is the start-up period. Let’s take a look at some of the most important aspects of establishing a new charity.