Charitable Trust Registration Statement (Page 4 of 4) in pdf

Charitable Trust Registration Statement Page 4

EXCLUSIONS:

Chapter 501B excludes certain charitable trusts from registration and reporting requirements. While

these excluded organizations do not have to file registration documents or annual reports, they still have the

duty to property administer property held for charitable purposes, a violation of which constitutes a breach of

trust.

Charitable trusts that are excluded from the registration and reporting requirements are:

Organizations that do not have at least $25,000 in gross assets at any time during a taxable year;

Organizations that register and file with the Attorney General under the Minnesota Charitable

Solicitation Act.

Charitable trusts that are administered by the United States or other political subdivision,

including the District of Columbia or the Commonwealth of Puerto Rico;

Religious associations and all charitable trusts organized and operated exclusively for religious

purposes that are administered by a religious association;

All charitable remainder annuity trusts or unitrusts or pooled income funds;

Trusts described in section 4947(a)(2) of the Internal Revenue Code of 1954, known as split-

interest trusts;

Trusts ;in which the only charitable interest is a contingent interest for which no charitable

deduction has been allowed for Minnesota income, inheritance or gift tax purposes;

Trusts in which not all of the unexpired interests are devoted to one or more charitable purposes

and where the charitable interest is an annuity or income interest that qualifies for a charitable

deduction under applicable Minnesota income tax laws.

FAILURE TO FILE:

The failure to register or file a completed annual report on time is a breach of trust and may subject the

trustee(s) to removal.

WHERE TO FILE:

Cheryl Boe

Charities Unit

Office of the Attorney General

Suite 1200 NCL Tower, 445 Minnesota Street

St. Paul, MN 55101-2130

AG: 383174,v. 01

Charitable Trust Registration Statement Page 4