Definition of Corpus Fund

1. The term ‘corpus’ is often confused and misunderstood. The literal meaning of the term ‘corpus’ is the main part/organ of a body. The term ‘corpus’ also denotes the sum and substance of an issue/entity. From a layman’s point of view, a corpus fund should be understood as the capital of the organization; the funds generated and kept for the existence and sustenance of the organization.

2. For a charitable organization, corpus fund is of paramount importance. Normally a corpus fund denotes a permanent fund kept for the basic expenditures needed for the administration and survival of the organization. The corpus fund is generally not allowed to be utilized for the attainment of the purposes, but the interest/dividend accrued on such fund can be utilized or accumulated.

3. Corpus funds are generally created out of corpus donation. A donation will be treated as corpus donation only if it is accompanied by a specific written direction of the donor. In the absence of any written direction of the donor, a contribution or grant cannot be transferred to But for all practical purposes corpus fund is a permanently closed fund with no strings or restriction for future application attached.

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