Philanthropy , Private Grantmaking Foundations

The bailey farmington village green and library trust (trust) was created under the trust agreement of alma b. Taylor on october 3, 2005. According to the trust agreement, the trustee shall fund projects for the farmington village green and library association (association) located in farmington, connecticut out of the net income of the trust. The association is an educational entity exempt under internal revenue service section 501(c) 3. The projects shall be selected in a manner pursuant to article iii of the trust agreement. In the event the farmington village green and library association is no longer a viable financial entity or determined to be an education entity under internal revenue service sections 501(c) 3 and 170, then the trust corpus should be distributed to the farmington village green and library association to provide for projects, endeavors or acquisitions in furtherance of their charter by utilizing the criteria established in article iii of the trust. According to