Mass. Gen. Laws ch. 180A § 1
As used in this chapter, the following words shall unless the context clearly requires otherwise, have the following meanings:-
"Charitable purpose", the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or the promotion of any other purpose the achievement of which is beneficial to the community.
"Endowment fund", an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis; provided, however, that "endowment fund" shall not include assets that an institution designates as an endowment fund for its own use.
"Gift instrument", a record, including an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund.
"Institution", (i) a person, other than an individual, organized and operated exclusively for charitable purposes; (ii) a government or governmental subdivision, agency or instrumentality to the extent that it holds funds exclusively for a charitable purpose; or (iii) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.
"Institutional fund", a fund held by an institution exclusively for charitable purposes or a fund held by trustee for a charitable community trust, but not including: (i) program-related assets; (ii) a fund held for an institution by a trustee that is not an institution, other than a fund which is held for a charitable community trust; or (iii) a fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.
"Person", an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity.
"Program-related asset", an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.
"Record", information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
Mass. Gen. Laws ch. 180A, § 1