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30-658: The Army Welfare Trust, along with Fauji Foundation , are run by ex-military personnel of the Pakistan Army. The companies provide employment opportunities to ex-military personnel and generate funds for the welfare and rehabilitation of orphans, widows of deceased soldiers, and disabled personnel of the army. Army Welfare Trust (AWT) was established in 1971 as a society under the Societies Registration Act of 1860, with an initial endowment of Rs 0.7 million. It became fully operational in 1977. The first commercial unit of

60-523: A charitable trust have greater freedom to act than other trustees, and secondly, beneficiaries cannot take legal action against the trustees. Instead, the beneficiaries are represented by the Attorney General for England and Wales in their capacity as parens patriae , appearing on behalf of The Crown . The jurisdiction over charitable disputes is equally shared between the High Court of Justice and

90-518: A donor to provide an income stream to the income beneficiary, while the public charity or private foundation receives the remainder value when the trust terminates. These "split interest" trusts are defined in §664 of the Internal Revenue Code and are normally tax-exempt. A Section 664 trust makes payments either of a fixed amount ( charitable remainder annuity trust ) or a percentage of trust principal ( charitable remainder unitrust ), to either

120-411: A donor's life) or as a part of a trust or will at death (testamentary). There are two basic types of US charitable trusts: charitable remainder trusts (CRT) and charitable lead trusts (CLT). Additionally, there is an Optimized Charitable Lead Annuity Trust (OCLAT) designed to maximize the tax and economic benefits for the contributor. Charitable remainder trusts are irrevocable structures established by

150-579: A factory in Lahore . In the same year, Army Welfare Mess and Blue Lagoon Restaurant was launched in Rawalpindi . In 1991, AWT launched housing schemes in Lahore , Badaber , and Sangjani near Islamabad . In 1995, AWT entered insurance and aviation business and established Askari General Insurance and Askari Aviation Services. In 1996, AWT acquired 80 percent shareholding of the Wah Cement Company under

180-680: A joint venture with Pak Brunei Investment Company. Army Welfare Trust is administered from the General Headquarters (GHQ) of Pakistan Army , where the service chief serves as the head of the governing board, supported by senior staff officers. It is one of the largest conglomerates in Pakistan. The assets the group owns are: Following are the companies which are not listed on Pakistani stock exchanges: Fauji Foundation Fauji Foundation ( Urdu : فوجی فاؤنڈیشن ; lit.   ' Soldier Foundation ' ), also known as Fauji Group ,

210-446: A term of years, the charity receives whatever amount is left in the trust. Charitable remainder unitrusts provide flexibility in the distribution of income and may be helpful in retirement planning, while charitable remainder annuity trusts paying a fixed dollar amount are more rigid and typically appeal to much older donors unconcerned about inflation's impact on income distributions, and who are using cash or marketable securities to fund

240-459: Is a Pakistani conglomerate company based in Rawalpindi . It is active in fertilizer , cement , food , power generation , gas exploration , LPG marketing and distribution, financial services , security services and provides womb-to-tomb benefits to retired servicemen of Pakistan Armed Forces and their families. The company was set up in order to provide employment opportunities to Pakistani ex-military personnel and to generate funds for

270-410: Is an irrevocable trust established for charitable purposes. In some jurisdictions, it is a more specific term than " charitable organization ". A charitable trust enjoys varying degrees of tax benefits in most countries and also generates goodwill. Some important terminology in charitable trusts includes the term " corpus " (Latin for "body"), referring to the assets with which the trust is funded, and

300-639: Is usually an only a retired Army general, and the board of directors is chaired by the Federal Secretary of Defence, with members drawn from within the organization. The Fauji Foundation medical system began with the establishment of a 50-bed TB hospital in 1959 at Rawalpindi. Today, the Fauji Foundation medical system is the largest medical chain outside the Government sector, spread all over Pakistan. On health care, Fauji Foundation spends over 58% of

330-559: The Charity Commission . The Commission, being the primary authority, is responsible for regulating and promoting charitable trusts. It also provides advice and opinions to trustees on administrative matters. In cases where the Commission detects mismanagement or maladministration, it has the authority to take actions against the trustees. This includes their removal, the appointment of new trustees, or even temporarily assuming control of

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360-532: The Islamic Republic of Iran , religious charitable trusts, or bonyads , constitute a substantial part of the country's economy, controlling an estimated 20% of Iran's GDP. Unlike some other Muslim-majority countries, the bonyads receive large In England and Wales, charitable trusts represent a form of express trust dedicated to charitable goals. There are several advantages to charitable trust status, including exemption from most forms of taxation and freedom for

390-414: The charitable goal. Furthermore, it is deemed unacceptable for charitable trusts to engage in campaigns for political or legal change. However, discussing political issues in a neutral manner is permissible. Charitable trusts, like other trusts, are administered by trustees, but there is no direct relationship between the trustees and the beneficiaries. This results in two key points: first, the trustees of

420-813: The country. The Fauji Foundation's education system aims to provide education to the children of ex- armed forces personnel, as well as to civilians. The headquarters of Fauji Foundation is in Rawalpindi , Pakistan . FFES is affiliated with the Federal Board of Intermediate and Secondary Education (FBISE), Islamabad and Board of Intermediate and Secondary Education Rawalpindi as well. There are 102 schools (FF model schools) in Pakistan. The Fauji Foundation Colleges For Boys and Girls are located in New Lalazar, Rawalpindi . Charitable trust Sections Contest Property disposition Common types Other types Governing doctrines A charitable trust

450-471: The donor or another named beneficiary. If the trust qualifies under the IRS code, the donor may claim a charitable income tax deduction for their donation to the trust. Moreover, the donor might not need to pay an immediate capital gains tax when the trust disposes of the appreciated asset and purchases other income-generating assets to fund the trust. At the end of the trust term, which may be based on either lives or

480-403: The end of the trust term, the remainder can either go back to the donor or to heirs named by the donor. The donor may sometimes claim a charitable income tax deduction or a gift/estate tax deduction for making a lead trust gift, depending on the type of charitable lead trust. Generally, a non-grantor lead trust does not generate a current income tax deduction, but it eliminates the asset (or part of

510-613: The environment, and the advancement of any other object of general public utility" as charitable purposes. Companies formed under Section 8 of the Companies Act, 2013, for promoting charity, also receive benefits under the law, including exemption from various procedural provisions of the Companies Act—either fully or partially—and are entitled to other exemptions that the Central Government may grant through its orders. In

540-465: The government's privatization policy. In the same year, AWT established Mobil Askari Lubricants in a joint venture with Mobil Oil Corporation , with a 30 percent equity share. The lubricant blending and distribution plant was constructed in Karachi and it began commercial production in 1997. Askari Guards was also established in 1996. In 2002, AWT established a business in fuel sector called Askari CNG. It

570-468: The late 1970s when it began to undergo major expansion. The assets of Fauji Foundation increased from Rs 152 million in 1970 to Rs 2,060 million by 1982, with 29 industrial units. Between 2011 and 2015, the foundation assets grew 78 percent. A 2017 study found that 33 of a group of 141 former Pakistan Armed Forces corps commanders, or 23.4%, were given jobs by the Foundation after their retirement from

600-470: The law. This also includes trusts for the benefit of animals and trusts for the benefit of a locality. Additionally, there is a requirement that the trust's purposes benefit the public or a specific section of the public, rather than merely a group of private individuals. Several circumstances render such trusts invalid. Charitable trusts are prohibited from operating for profit, and their purposes cannot be non-charitable unless these purposes are ancillary to

630-567: The management of the Ministry of Defence . The organization began with an initial paid-up capital of US$ 3.6 million (Rs 18 million) which it received from British colonial administration for supporting the widows and families of World War II veterans. With the funds it established a textile mill , a cereals mill, and a sugar mill . In December 1974, Fauji Foundation inaugurated its third textile mill with equipment imported from China. Fauji Foundation remained relatively modest in scale until

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660-553: The military. At any one time, as many as seven former corps commanders serve as either the managing directors of the Fauji Foundation or the Army Welfare Trust or as managing directors of subsidiaries with personnel in these positions rotated out every three years. Fauji Foundation is not predominantly managed by the Pakistan Army , with only 21 percent of these positions filled by retired Army personnel. The managing director

690-537: The term "donor," which is the person donating assets to a charity. In India, trusts set up for social causes and approved by the Income Tax Department not only receive exemption from tax payment, but donors to such trusts can also deduct the donated amount from their taxable income. The legal framework in India recognizes activities such as "relief of the poor, education, medical relief, preservation of monuments and

720-527: The trust property to prevent harm. In instances where there are issues with a charity, the High Court can implement schemes that dictate the functioning of the charity. In the United States, many individuals use charitable trusts to leave all or a portion of their estate to charity when they die, both for philanthropic purposes and for certain tax benefits. Charitable trusts can be set up inter vivos (during

750-716: The trust was a stud farm located in Probyanabad which it received from Pakistan Army in 1972. In 1984, AWT Sugar Mills was established in Badin with an initial crushing capacity of 2000 tonnes per day (TPD) which was later increased to 3400 TPD. In the same year, stud farm in Boyle Gunj came under the control of AWT. In 1988, AWT Rice Mills was established in Rakh Baikunth with the capacity to process 5,500 tonnes of paddy and 3,000 tonnes of rice . In 1990, AWT founded Askari Shoes with

780-440: The trust. In some situations, the less complicated pooled income fund may be more suitable than the charitable remainder trusts. Charitable lead trusts are the opposite of charitable remainder trusts and make payments to charity for the term of the trust. Similar to a charitable remainder trust, payments may be either a fixed amount (charitable lead annuity trust) or a percentage of trust principal (charitable lead unitrust). At

810-407: The trustees that is not found in other types of English trusts. For a charitable trust to be considered valid, the organization must demonstrate both a charitable purpose and a public benefit. Applicable charitable purposes are typically divided into four categories: trusts for relieving poverty, trusts for promoting education, trusts for advancing religion, and all other types of trusts recognized by

840-494: The welfare budget. Fauji Foundation Hospital Rawalpindi and Fauji Foundation Hospital Lahore are well funded hospitals of Fauji Foundation. It is run by former officers of Pakistani Armed Forces . With over 100 branches spread from Karachi to Gilgit having approximately 45,000 students, 2000 teachers and over 1100 administrative staff, the Fauji Foundation Education system is amongst the largest education systems in

870-569: The welfare of widows, and families of martyrs. It also undertakes welfare projects in education , medical, training, and rehabilitation for military personnel. Fauji Foundation was established as a charitable trust in 1954 under the Charitable Endowments Act of 1889. It was established for the welfare of the Pakistan Armed Forces ' three branches— Pakistan Navy , Pakistan Army , and Pakistan Air Force —and thus came under

900-768: Was renamed as Askari Fuels in May 2014. In 2004, AWT founded Askari Seeds which now has three factories located in Lahore , Okara , and Sukkur . In 2013, AWT sold its pharmaceuticals business located in Phool Nagar , Askari Pharmaceuticals, which was later renamed as Citi Pharma. In 2014, AWT acquired Fauji Security Services from Fauji Foundation . In the same year, Askari Apparel was established in Lahore. In 2015, AWT inaugurated Askari Blue Lagoon in Faisalabad . In 2017, AWT founded an asset management company named AWT Investment Company in

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