{"data":{"id":"us-ky/krs-273.600","jurisdiction":"us-ky","citation":"KRS 273.600","heading":"Definitions for KRS 273.600 to 273.645.","body":"In KRS 273.600 to 273.645:\n(1) \"Charitable purpose\" means the relief of poverty, the advancement of education or\nreligion, the promotion of health, the promotion of a governmental purpose, or any\nother purpose the achievement of which is beneficial to the community;\n(2) \"Endowment fund\" means an institutional fund or part thereof that, under the terms\nof a gift instrument, is not wholly expendable by the institution on a current basis.\nThe term does not include assets that an institution designates as an endowment\nfund for its own use;\n(3) \"Gift instrument\" means a record or records, including an institutional solicitation,\nunder which property is granted to, transferred to, or held by an institution as an\ninstitutional fund;\n(4) \"Institution\" means:\n(a) A person, other than an individual , organized and operated exclusively for\ncharitable purposes;\n(b) A government or governmental subdivision, agency, or instrumentality, to the\nextent that it holds funds exclusively for a charitable purpose; or\n(c) A trust that had both charitable and nonc haritable interests, after all\nnoncharitable interests have terminated;\n(5) \"Institutional fund\" means a fund held by an institution exclusively for charitable\npurposes. The term does not include:\n(a) Program-related assets;\n(b) A fund held for an institution by a trustee that is not an institution; or\n(c) A fund in which a beneficiary that is not an institution has an interest, other\nthan an interest that could arise upon violation or failure of the purposes of the\nfund;\n(6) \"Person\" means an individual, c orporation, business trust, estate, trust, partnership,\nlimited liability company, association, joint venture, public corporation, government\nor governmental subdivision, agency, or instrumentality, or any other legal or\ncommercial entity;\n(7) \"Program-related asset\" means an asset held by an institution primarily to\naccomplish a charitable purpose of the institution and not primarily for investment;\nand\n(8) \"Record\" means information that is inscribed on a tangible medium or that is stored\nin an electronic or other medium and is retrievable in perceivable form.","path":["KRS Chapter 273"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13768","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:25Z","sha256":"888deb3dde48f5f8295cbd8b670d120dfd75b91adcc0271667875637207b2462","source_id":"us-ky","stale":false,"prev":"us-ky/krs-273.590","next":"us-ky/krs-273.605"},"notice":"GroundRules: Original legal text. Not legal advice."}