Property and funds held on trust for charitable purposes. (In England and Wales, governed by the Charities Act 1960).
This corresponds with the notion of "dependent foundation", "Treuhand" ("unselbständige Stiftung") or "fond" in continental Europe, a legal form which is often used when the management of funds for a special purpose is not committed to a fresh organisation formed for the purpose, but instead is entrusted to an existing organisation.
In some countries this form is chosen particularly when the management of a small private fund (eg for scholarships) is entrusted to a public, authority, such as a municipality.