{"data":{"id":"us-ak/as-13.65.090","jurisdiction":"us-ak","citation":"AS 13.65.090","heading":"Definitions.","body":"In this chapter,\n(1) “charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or another purpose the achievement of which is beneficial to the community;\n(2) “endowment fund” means an institutional fund, or part of an institutional fund, not wholly expendable by the institution on a current basis under the terms of a gift instrument; the term does not include assets of an institution designated by an institution as an endowment fund for its own use;\n(3) “gift instrument” means a record, including an institutional solicitation, under which property is granted to, transferred to, or held by an institutional fund;\n(4) “institution” means\n(A) a person, other than an individual, organized and operated exclusively for charitable purposes;\n(B) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or\n(C) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated;\n(5) “institutional fund” means a fund held by an institution exclusively for charitable purposes; the term does not include\n(A) program-related assets;\n(B) a fund held for an institution by a trustee who is not an institution; or\n(C) a fund in which a beneficiary who is not an institution has an interest, other than an interest that could arise on a violation or failure of the purposes of the fund;\n(6) “person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or another legal or commercial entity;\n(7) “program-related asset” means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for appreciation or the production of income;\n(8) “record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.","path":["Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions.","Chapter 65. Uniform Prudent Management of Institutional Funds."],"source_url":"https://www.akleg.gov/basis/statutes.asp#13.65.090","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:54Z","sha256":"bc584db86c7ef82768c536100a75096d67b9da42a3746e89f0bb791df1453949","source_id":"us-ak","stale":false,"prev":"us-ak/as-13.65.080","next":"us-ak/as-13.65.095"},"notice":"GroundRules: Original legal text. Not legal advice."}