The trustees hereby declare that the trustees shall hold and apply the trust fund and all
other monies which may from time to time be received by the trustees (whether such monies shall
arise from donations bequests deeds of covenant or from any other source) and also the
investments for the time being representing the same (all of which are hereinafter included in the
expression “the trust fund”) upon trust to apply both the capital and income thereof to or for
the relief of the poor and needy or such other charitable purposes as the club shall in duly
constituted meeting from time to time direct.