Ohio Code § 1715.51
Ohio Code § 1715.51. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1715.51.
As used in sections 1715.51 to 1715.59 of the Revised Code : (A) “ Charitable purpose ” means any purpose the achievement of which is beneficial to the community, including
the relief of poverty, the advancement of education or religion, the promotion of
health, and the promotion of a governmental purpose. (B) “ Institution ” means any of the following: (1) A person, other than an individual, organized and operated exclusively for charitable
purposes; (2) A governmental organization to the extent that it holds funds exclusively for a charitable
purpose; (3) A trust that had both charitable and noncharitable interests and the noncharitable
interests have terminated. (C) “ Institutional fund ” means a fund that is held by an institution exclusively for charitable purposes. “Institutional fund” does not include any of the following: (1) Program related assets; (2) A fund held for an institution by a trustee that is not an institution; (3) A fund in which a beneficiary that is not an institution has an interest other than
an interest that may arise upon a violation of or the failure of the purposes of the
fund. (D) “ Endowment fund ” means an institutional fund or any part thereof that, under the terms of a gift
instrument, is not wholly expendable by the institution on a current basis. “Endowment fund” does not include assets that an institution designates as an endowment
fund for its own use. (E) “ Gift instrument ” means a record or records, including an institutional solicitation, under which
property is granted to, transferred to, or held by an institution as an institutional
fund. (F) “ Person ” means an individual, corporation, business trust, estate, trust, partnership, limited
liability company, association, joint venture, public corporation, governmental organization,
or any other legal or commercial entity. (G) “ Program related asset ” means an asset held by an institution primarily to accomplish a charitable purpose
of the institution and not primarily for investment. (H) “ Record ” means information that is inscribed on a tangible medium or that is stored in an
electronic or other medium and is retrievable in perceivable form.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1715.51
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1715.51 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 1715.51 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
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