NGO & Trust Services
LEGALCREW INFOSOLUTIONS PRIVATE LIMITED PROVIDE A COMPLETE SOLUTION FOR NGO (Non-Governmental Organization).
In the context of the non-profit sector, an NGO (Non-Governmental Organization) and a trust are distinct but often intertwined. NGOs are broadly defined as non-profit organizations working for social or environmental causes, while a trust is a legal arrangement where assets are held and managed for the benefit of specific individuals or purposes. Essentially, a trust can be one way for an NGO to function, especially when managing assets or distributing funds.
Here’s a more detailed breakdown:
NGOs (Non-Governmental Organizations):
- Broad Definition:NGOs are non-profit organizations that operate independently of government control, addressing social or environmental issues through various means like advocacy, service delivery, and research.
- Voluntary Associations:They are typically voluntary associations, meaning they rely on the dedication and work of individuals who are not necessarily employed by the organization.
- Diverse Activities:NGOs engage in a wide range of activities, including humanitarian work, environmental protection, human rights advocacy, and development assistance.
- Funding:NGOs rely on various funding sources, including donations, grants, memberships, and sometimes government contracts.
Trusts:
- Legal Arrangement:A trust is a legal framework where one party (the trustee) holds and manages assets for the benefit of another (the beneficiary).
- Asset Management:Trusts are commonly used for managing and distributing assets for charitable or other specific purposes.
- Tax Advantages:In many countries, trusts can offer tax benefits, making them attractive for charitable organizations.
- Varied Types:Trusts can be public (benefiting the wider public) or private (benefiting specific individuals or a class of individuals).
Relationship between NGOs and Trusts:
- NGOs can be trusts:Many NGOs are structured as trusts, allowing them to manage their assets and distribute funds effectively.
- Trusts can fund NGOs:Trusts can also be used to fund NGOs by establishing endowments or providing grants to support their work.
- Overlap in Purpose:Both NGOs and trusts often share the goal of promoting social good and helping those in need.
