Ilchester Town Trust was established on 13th September 1889 by the dissolution of the Bailiff and Burgesses of Ilchester under the Act (Municipal Corporation Act 1883) Charter of H.M. Queen Victoria, to repair and maintain the Town Hall, contribute to the lighting of the village streets, and contribute to any purpose for the public benefit of the inhabitants of Ilchester. There were five trustees appointed from the Vestry Meeting and one Archaeological & Natural History Trustee appointee.
The scheme was amended on 9th February 1989, enlarging the number of Trustees, 3 from the Parish Council, 1 from the Archaeological Society, 4 from IDCA (Ilchester and District Community Association) and 4 members co-opted to serve for five years each. The nominated members serve for 4 years subject to their being nominated by their respective organisations.
The application of funds is restricted: (a) to the upkeep and repair of the Town Hall and Museum, and (b) for any Charitable purpose for the general benefit of the inhabitants of Ilchester.
The Scheme does not permit relief of any public rates, taxes or public funds. The Charity now has vested ownership in the Roman Cemetery at Northover.
The Charity continues to be responsible for the Town Hall. Ilchester Museum is run by the Town Trust and is sited within the Town Hall, but with a separate entrance (open to the public between Easter Saturday and the end of September each year, on Thursdays and Saturdays from 10am – 4pm.) Ilchester Sportsfield is wholly owned by the Town Trust.