I disagree. It functions as a trust. If you can get your money back out of it, it is held "in trust" until you ask for it. If it was not a trust, then what would one be doing by signing up? Donating their money irrevokably to Pedro's charity?
We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry, Patriot and Hero of the American Revolution