Final answer:
A nonprofit organization or trust accepts assets from a donor and uses them to benefit a cause or beneficiary. 'With or without variance power' refers to the organizational flexibility in using these assets. People join such organizations for intangible rewards like fulfilling personal values and contributing to societal benefit.
Step-by-step explanation:
The entity described in the question is likely a type of nonprofit organization or trust. Such organizations can be established for various reasons, such as to pursue shared interests, support charitable activities, or provide some form of social benefit. Individuals or entities can donate assets to these organizations, and the organizations, in turn, use these resources to benefit a particular cause or beneficiary. The term 'with or without variance power' refers to the ability of the organization to modify the conditions or goals of the contributed assets if circumstances change or if the initial purpose becomes impracticable or impossible to achieve.
Many people join these organizations because they align with their values or interests, and these memberships can offer intangible rewards, such as a sense of contribution to the common good or personal fulfillment. Examples of nonprofit organizations include educational institutions, religious groups, cultural institutions, and social service agencies.