section_path: Types/Legal framework/Run by trusts vs. corporations
section_name: Run by trusts vs. corporations
paragraph_text: Run by trusts vs. corporations
  
  A trust is a legal instrument where trustees manage the trust's assets for the benefit of the museum following the specific wishes of the donor. This provides tax benefits for the donor, and also allows the donor to have control over how assets are distributed.
  
  Corporations are legal entities and may acquire property in a way similar to how an individual can own property. Museums under incorporation are usually organized by a community or group of individuals. While a board of director's loyalty is to the corporation, a board of trustee's loyalty has to be loyal to the intention of the trust. The ramification is that a trust is far less flexible than a corporation.