taxes on eleemosynary
endowments including appropriate rates and bases
(318) The court emphasized the dependent and nonvoluntary nature of Silvey's relationship with the Home and the town: "His presence there was eleemosynary
in its character; he was there as a dependent, because he had no means of support or relatives to maintain him, and liable to be discharged whenever the board of trustees were satisfied that he was of sufficient ability or means to support himself." (319) Thus, "[a]s to Bath, his residence was a beneficiary's residence, and no other.
In Dartmouth College, Marshall defended the property rights of an eleemosynary
Rhea was crowned winner when, with the pair on nine points each, she correctly spelled eleemosynary
, meaning charitable.
It shall visit and inspect, or cause to be visited and inspected by members of its staff, all public and private institutions, whether state, county, municipal, incorporated or not incorporated, which are in receipt of public funds and which are of a charitable, eleemosynary
, correctional or reformatory character, including all reformatories for juveniles and institutions or agencies exercising custody of dependent, neglected or delinquent children, but excepting state institutions for the education and support of the blind, the deaf and the dumb, and excepting also such institutions as are hereinafter made subject to the visitation and inspection of the department of mental hygiene or the state commission of correction.
(25) The donors no longer had a direct interest in the property as it was an "eleemosynary
," or charitable institution, but the Court explained that the corporation "stands in their place" to distribute the property as they would have done, through the acts of its trustees.
Nonprofit status affects corporate governance, not eleemosynary
(84) Seddon has described the impact of the Williams case as directly falling on 'eleemosynary
Commonwealth programs involving the expenditure of money': Seddon, above n 62, 71.
provisions governing registered charities and provincial constitutional authority, set out in section 92(7) of the Constitution Act, 1867 (UK), over the "Establishment, Maintenance, and Management of Hospitals, Asylums, Charities, and Eleemosynary
Institutions in and for the Province".
At that time, Matty Hersee was placed under the jurisdiction of the Board of Trustees of State Eleemosynary
institutions and, upon its closing in 1986, it was one of three such hospitals in the state.
Considering this omen, the support for culture and arts must deviate from the eleemosynary
characteristic of the past and turn towards investing in culture and the arts.
Second, the nonprofit-issuer exemption is based on the assumption that "[a]rguably, individuals do not 'invest' in eleemosynary
organizations and therefore are not in need of extensive disclosures about the economic aspects of the operations of such issuers." (130) Although the first policy justification applies equally to SIBs as to traditional municipal securities, the second justification--that investors in securities of nonprofit organizations do not have the same investment concerns as investors in securities of for-profit issuers--does not withstand scrutiny under the SIB model, which is designed to attract investors primarily by the potential for profit to be earned.