The Guardian is a British daily newspaper. It was founded in 1821 as The Manchester Guardian, and changed its name in 1959. The trust was created in 1936 to "secure the financial and editorial independence of The Guardian in perpetuity and to safeguard the journalistic freedom and liberal values of The Guardian free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for The Guardian the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in its journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK.