SCHMEIDLER FUND

The Isidore Schmeidler Fund is a charitable trust which was established in the Will of Isidore Schmeidler. Under the terms of the Will, essentially all of the assets of Mr. Schmeidler were transferred into a trust, the sole purpose of which was to invest and administer the assets so they could be used only for certain charitable purposes. The trust was specifically directed by Mr. Schmeidler's Will to become a perpetual fund from which only the income was to be used for its charitable purposes... Mr. Schmeidler's Will directed that there should be five trustees to administer the trust and to carry out Mr. Schmeidler's intentions: A Rabbi, a Catholic Priest, a Protestant Minister or Pastor, a civic-minded businessman, and a lawyer. These trustees were directed to use the trust's income for "any one or more of the following charitable purposes, at the sole discretion of the trustees:"... To provide scholarships to public or parochial high school graduates on the conditions that they..

Primary location: Atlantic City United States