(a) In this title the following words have the meanings indicated. (b) (1) 'Charitable asset' means property that is given, received, or held for a charitable purpose, including all interest in: (i) real property; or (ii) tangible or intangible personal property. (2) 'Charitable asset' includes: (i) cash; (ii) remainder interests; (iii) conservation or preservation easements or restrictions; and (iv) charitable contributions. (3) 'Charitable asset' does not include property acquired or held for a for–profit purpose. (c) 'Charitable purpose' means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose whose achievement is beneficial to the community.
Maryland Legal Code