CHARITABLE REMAINDER TRUST. The general term used to describe a separate trust arrangement between the donor and the trustee of the donor's choosing, the terms of which must conform to the 1969 Tax Reform Act that established this charitable vehicle. This trust may be either an annuity trust or unitrust (see separate definitions). This trust must have a charitable intent, is irrevocable and receives a partial income tax deduction in the year of the gift. It also produces income from the property transfer; and at the end of the trust, the remaining principal is distributed to the charity (thus the remainder defines what type of charitable trust). This trust allows the donor to choose their trustee, payout rate, term (number of years, life or lives, or combination of the two), investment strategy, frequency of payment and who is the ultimate charitable beneficiary.

Charitable Remainder Trust. The donation of property or money to a charity, whereby the donor reserves the right to use the property or to receive income from it for a specified time. When the agreed-upon period is over, the property belongs to the charitable organization. The donor in turn receives various tax deductions and tax advantages. The most common CRTs are the charitable remainder annuity trust (CRAT) and the charitable remainder unit trust (CRUT).

Chinese Remainder Theorem. A theorem about the unique factorization of integers which can be utilized to speed up the computation of some cryptographic algorithms.

California Rangeland Trust

Charitable Remainder Trust. A trust that pays current income to one or more non-charitable beneficiaries and later pays the remainder to charity. Special IRS rules apply to these trusts.

charitable remainder trust. A legal device allowing the transfer of assets into a separately managed trust that will provide the donor and/or the donor's beneficiaries with payments for life or for a specific term of years. After the donor's death, the remaining assets (the "charitable remainder") pass to MIT. Read more about charitable remainder trusts.