Whom do memorial funds typically benefit?

Memorial funds are established to honor the memory of an individual who has passed away and are usually directed toward specific causes or organizations that reflect the values or interests of the deceased. This can include charities, educational institutions, or community projects. By contributing to these designated causes, the memorial funds help sustain the legacy of the individual, allowing their memory to make a positive impact in areas that were important to them during their life.

The focus of memorial funds on supporting specific causes rather than directly benefiting individuals or businesses highlights the community-oriented and philanthropic purpose behind them. This is why the correct answer emphasizes that memorial funds benefit designated causes in memory of the deceased.