The purpose of the charitable trust is to devote and supply the income from the trust fund and principal exclusively for charitable purposes or for the betterment and welfare of children or of handicapped persons, particularly persons handicapped in sight or hearing, either directly or by contributions to organizations duly authorized to carry on such activities and which have established their tax-exempt status under the provisions of 501(c)(3) and 501(c)(4) of the Internal Revenue Code and its regulations.