CITY TRUSTS

In addition to overseeing the administration of The Estate of Stephen Girard, Girard College and Wills Eye Health System, the Board of Directors of City Trusts is charged with the administration of approximately 117 other trusts left to the City of Philadelphia for charitable purposes. These are referred to as the "Sundry Trusts," each maintained separately and administered according to the terms of the benefactor... A group of public spirited and influential citizens of Philadelphia felt that management of these funds was proving to be unsatisfactory because rapid changes in City Government made impossible a proper continuity of stewardship of the trusts. In 1869 a group of these citizens succeeded in bringing about the passage of an Act of Assembly creating the Board of Directors of City Trusts, by the Legislature of the Commonwealth of Pennsylvania. The Act, approved on June 30, 1869, continued to vest trusteeship in the City, but placed administration of the trusts under a Board..

Also known as: City Trusts Inc.

Primary location: Philadelphia United States