Ancillary Funds are a critical giving vehicle to make charitable donations in Australia. Find out the four key changes needed to maximise their impact.
Established in 2001, ancillary funds the fastest growing way for people and companies to establish charitable foundations. They’re responsible for distributing over $550 million to Australia’s not-for-profit sector each year and have increased flexibility for high-value strategic donations.
Good2Give has a Public Ancillary Fund (PuAF) from which we manage a number of sub-funds for our business clients. We also advise and manage independent PuAFs for corporate clients to ensure their donations are efficiently and securely distributed.
While the existing regulatory guidelines from 2001 and 2005 are widely supported, there are a number of operational areas that could improve charitable access to funds, investment strategies and reporting requirements.
Good2Give welcomes the opportunity to contribute to Treasury’s draft amendments to reduce these barriers and has nominated four priority areas to formalising these.