glossary
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TECs
abbr. Training and Enterprise Councils. Now known as Learning and Skills Councils.
Treasurer
FINANCE. A person appointed to administer the funds of a society or municipality etc. (For his/her financial responsibilities and duties see VAN Briefing no. 26, 'Who Me, a Treasurer?').
Trust
A legal device used to set aside money or property of one person for the benefit of one or more persons or organizations. A Foundation may use the term Trust in its name. (For complete information about funding, see this website).
Trustee
For grants purposes, is a member of the Board of Directors of a foundation. Trustees have final authority for funding decisions, though in larger foundations that authority is delegated to program officers. They are also known as directors or board members. (See this website).