What is CHARITABLE ORGANIZATION? Definition of CHARITABLE ORGANIZATION in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
One which has no capital stock and no provision for making dividends and profits, but derives its funds mainly from public and private charity, and holds them in trust for the objects and purposes expressed in its charter. Congregational Sunday School & Publishing Soc. v. Board of Review, 290 Ill. 108, 125 N.E. 7, 9. One conducted not for profit, but for promotion of welfare of others. Stearns v. Association of Bar of City of New York, 154 Misc. 71, 276 N.Y.S. 390.
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That's the definition of CHARITABLE ORGANIZATION in Black's Law Dictionary - Legal dictionary - Glossary of legal terms. Courtesy of Cekhukum.com.
