The Detroit times., 1915-12-18
COMMUNITY
TRUST" is
,coatiaued from Page O.eJ

be made during the donors life
time or by will to take effect after
his death. In Cleveland. where the
idea of the Community trust or
foundation, as Il IL sometimes
called. originated. It Is reported that
funds sggregating thirty million dol.
lars have been contributed and
promised. since the foundation was
established there in January. 1914.
These separate gifts. in small as
we'll as large amounts. taken to-
gether, form in effect large single
trust fund whicn can be used 10 bet
ter purpose, and with greater eff
cheney and economy. for the public
good than n number OF small gifts
used and applied separately. Trust
company officials and lawyers say
that there are many people OF mod
crate means who wish TO contribute
relatively small sums from their es'
tates-some by will and others dur
ing their life;ime-to b. used for
the relief OF suffering or TO improve
living conditions or for some Jthor
purpose for Tie good OF The people
OF the city. The Detroit Commun'
uy trust" provides the instrument
for doing this. II furnishes place
for gifts too small 10 be effective
standing alone.
Another feature which distin'
gulshes this Community trust from
the ordinary private trust or trust
lnder n win is its adaptability 10
changing conditions. It's flexible or
elastic character. The resolution
adopted by the directors OF the De
troit Trust Co, establishing the
Community Trust has been care
fully drawn so that in case, for any
reason which cannot be foreseen
the original purpose or object Of a
gift fails In the future (such as the
failure or dissolution OF charita-
BILE institution, for the benefit OF
which the specific gift is made) the
trustee. under proper safeguards
can administer the fund for some
other charitable purpose as nearly
hike the original purpose as possible
and under the general provisions
OF the trust for the benefit Of the
people ot the city. In other words
the central idea OF this Community
Trust is that It. shall be as broad
In scope, as perpetual, as elastic
i'm character. and as adaptable 70
changing conditions as II is pos
sible to make 4. II is pointed out
that the trust company. having prac
tically perpetual life through It's
cornorate organ iZation or as near II
as 1t Is possible N get, IL the only
agency available for use in creating
and administering his kind ~ pub
lie trust. II Is believed that the
creation OF stable and responsible
organization like this one Will In
duce giving for charitable and pub
lie purposes on a generous scale by
Detroit men and women OF large
and moderate wealth. who have
wanted 10 benefit the people OF the
city less fortunate than themselves
Attention Is called TO the fact that
the Detroit Community Trust Is so
organized and planned that II will
in no sense compete with the many
admirable charitable, educational
and sociological institutions and 70
cieties at present operating In De
troit. II will rather supplement
them and aid them whenever prac
ticable.
The resolution adopted by the di
rectors OF the Detroit Trust Co. Is
In effect the declaration OF trust.
II places the custody OF the funds
and securities, the making Of In
vestments and the keeping OF the
records and accounting In the hands
OF the trustee, the Detroit Trust
Co.. which Is especially organized
for this kind OF service and Is finan
cially responsible. The income Il
disbursed under the direction OF q
committee OF FIVE people. one select
ed by the Judge OF the United
States district court, one by the
Judge Of probate, one by the mayor
and two by the directors OF the
Detroit Trust CO. This COMMITTEES
Is to be impartial. non political. non
sectarian. familiar by experience
with community needs, and serves
without compensation.
Annual audits of the accounts oi
the trustee and committee are TO be
made. Full statements OF invest
ments, receipts and Disbursements
and expenses OF the committee are
10 be published In tho newspapers
'rhe corporation counsel OF Detroit
Is TO have access to tho books and
records Of the trustee. AMI the com
mlttee, and power To brlng legal
proceedings to recover for nal-ad
mlnistration and 70 compel the use
" trust funds for public purposes
In other words. every effort has
been made to make II thoroughly
public trust.
The statement issued by the De
tTolt Trust co. explaining the pur'
poses and organization n the Com.
munity Trust, closes "a follows:
The tremendous growth OF De
lroit In the past few years, with ats
'rAux OF people. many OF whom are
foreigners new 20 onr ways. law
and customs. has brought us face