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Secular Trust

Spanish translation: fideicomiso no religioso

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Secular Trust
Spanish translation:fideicomiso no religioso
Entered by: Victoria Sfriso (X)

03:13 Mar 31, 2014
English to Spanish translations [PRO]
Bus/Financial - Accounting / NGO
English term or phrase: Secular Trust
I am translating the website of a Foundation. I can't reach the meaning of Secular Trust in this sentence:

The Foundation is a public, charitable, secular Trust, registered in Bangalore. The Board of Trustees comprise missionaries of ISKCON Bangalore, corporate professionals, and entrepreneurs.

It's a website from an Indian Foundation that must be translated into Spanish (Spain).

Gracias!!!
Victoria Sfriso (X)
Argentina
Local time: 18:18
fideicomiso no religioso
Explanation:
"secular trust" has a specific meaning in commercial terms but in this case I think it just means "non-religious"

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Note added at 42 mins (2014-03-31 03:56:24 GMT)
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Barron's Insurance Dictionary: Secular Trust [402(b)] (Nonexempt Trust)Top
Home > Library > Business & Finance > Insurance Dictionary
nonqualified plan of deferred compensation whose goal is to compensate key employees without having to provide similar benefits to rank and file employees. The trust is irrevocable, and funds placed in it are protected against claims made by the company’s creditors. Even though funds in this trust are not in the employee’s possession, they are deemed by the Internal Revenue Service to have been constructively received by the employee. The company is allowed to take an income tax deduction for the funds it contributed to the trust, even though these funds have not been distributed to the employee while he or she has current taxable income. At the time funds from the trust are actually distributed, the employee is taxed only to the extent that these distributions are from earnings of the trust or from current trust income, which will allow the employee to pay taxes owed as the result of the company’s contributions to the trust. The employer is not taxed on the trust income: the employee pays all taxes on this income. For example, assume that the company is in the 34% tax bracket and contributed $40,000 to the trust on behalf of John Employee, who is in the 28% tax bracket. The result is that John Employee will have an $11,200 tax liability ($40,000 x 28%) and the company will incur a $13,600 tax deduction ($40,000 x 34%). In order that John Employee will have the necessary funds to pay the taxes owed, the company usually will bonus him the $11,200 required, which of course is tax deductible as a business expense for the company.
Previous: Section 79 Plan, Section 7702 of The Internal Revenue Code, Section 529 Plans (Qualified Tuition Plans)
Next: Secure Moneyannuity or Retirement Trust (SMART), Secured Creditor, Securities Act of 1933



Read more: http://www.answers.com/topic/secular-trust-402-b-nonexempt-t...
Selected response from:

David Hollywood
Local time: 18:18
Grading comment
Thank you! I though it was just "non-religious" but I was a bit lost about it
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1fideicomiso no religioso
David Hollywood


  

Answers


37 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
secular trust
fideicomiso no religioso


Explanation:
"secular trust" has a specific meaning in commercial terms but in this case I think it just means "non-religious"

--------------------------------------------------
Note added at 42 mins (2014-03-31 03:56:24 GMT)
--------------------------------------------------


Barron's Insurance Dictionary: Secular Trust [402(b)] (Nonexempt Trust)Top
Home > Library > Business & Finance > Insurance Dictionary
nonqualified plan of deferred compensation whose goal is to compensate key employees without having to provide similar benefits to rank and file employees. The trust is irrevocable, and funds placed in it are protected against claims made by the company’s creditors. Even though funds in this trust are not in the employee’s possession, they are deemed by the Internal Revenue Service to have been constructively received by the employee. The company is allowed to take an income tax deduction for the funds it contributed to the trust, even though these funds have not been distributed to the employee while he or she has current taxable income. At the time funds from the trust are actually distributed, the employee is taxed only to the extent that these distributions are from earnings of the trust or from current trust income, which will allow the employee to pay taxes owed as the result of the company’s contributions to the trust. The employer is not taxed on the trust income: the employee pays all taxes on this income. For example, assume that the company is in the 34% tax bracket and contributed $40,000 to the trust on behalf of John Employee, who is in the 28% tax bracket. The result is that John Employee will have an $11,200 tax liability ($40,000 x 28%) and the company will incur a $13,600 tax deduction ($40,000 x 34%). In order that John Employee will have the necessary funds to pay the taxes owed, the company usually will bonus him the $11,200 required, which of course is tax deductible as a business expense for the company.
Previous: Section 79 Plan, Section 7702 of The Internal Revenue Code, Section 529 Plans (Qualified Tuition Plans)
Next: Secure Moneyannuity or Retirement Trust (SMART), Secured Creditor, Securities Act of 1933



Read more: http://www.answers.com/topic/secular-trust-402-b-nonexempt-t...

David Hollywood
Local time: 18:18
Works in field
Native speaker of: English
PRO pts in category: 56
Grading comment
Thank you! I though it was just "non-religious" but I was a bit lost about it

Peer comments on this answer (and responses from the answerer)
agree  Rebeca Martín Lorenzo: I agree, secular means non-religious here. But may I suggest "fundación fiduciaria" rather than fideicomiso?
3 days 13 hrs
  -> sure and thanks Rebeca :)
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