Presentation on theme: "Presentation give an overview of the Foundation and the benefits to Kiwanis clubs and members seek views on a Foundation fund raising initiative."— Presentation transcript:
Presentation give an overview of the Foundation and the benefits to Kiwanis clubs and members seek views on a Foundation fund raising initiative
Foundation Purposes Provide or apply money or benefits to KIAD or Foundation approved Eligible Projects for Eligible Entities where: Eligible Projects – are consistent with Kiwanis International Objects and approved by KIAD Board Eligible Entities – are charitable at law and an ATO approved tax ‘Deductible Gift Recipient’ operating in Australia
Key Factors established by KIAD on 9 February 2013 not-for-profit public ancillary fund for public charitable purposes company limited by guarantee (KIAD only member) Trust Deed and Constitution registered with the ATO and ASIC ATO endorsed as – Discretionary Investment Trust; ‘Deductible Tax Recipient’ (DGR) and Income Tax Exempt Fund subject to ASIC and Australian Charities and Not-for-Profits Commission (ACNC) governance requirements Foundation donations made only to Eligible Projects by Eligible Entities
Governance five Directors (all active Kiwanians) - majority meet ATO ‘Responsible Persons’ criteria Foundation receives donations in two bank accounts: Eligible Projects Fund - Club donations Gift Fund - tax deductible public, corporate and individual Kiwanis member donations statutory reporting requirements (with penalties for non- compliance) and two-way liaison with KIAD
Fund Raising Require annual Fund-raising, Investment and Risk Assessment strategy 2014/15 Strategy includes: KIAD $10,000 grant as seed capital for investment purposes – accrued interest retained by Foundation for grant purposes and KIAD reimburse administrative expenses to allow 100% value of donations on-going donations from Clubs and members, public and corporates develop other donation sources including cash and bequests
Eligible Projects and Eligible Entities Present and Past ProjectEntity HeartKids ‘Grants-in-Aid’HeartKids Australia MNT (Member & Public donations)UNICEF Australia NSW Bushfire Appeal (2013)Salvation Army Typhoon Haiyan Appeal (2013)UNICEF Australia Queensland Floods Appeal (2011)Qld Premier Disaster Relief Victorian Bushfires Appeal (2009)Various Asian Tsunami (2005)World Vision Australia
Benefits to Clubs Gift Fund assists Clubs’ fund raising from individual Club members, public and corporate for both current and future new Eligible Projects for Eligible Entities developed by Clubs where Remember the criteria - Projects are consistent with Kiwanis International Objects and approved by KIAD Board Entities – are charitable at law and an ATO approved tax ‘Deductible Gift Recipient’ operating in Australia
Benefits to Clubs Approved projects attract income tax deductions - assists to: increase awareness of Kiwanis in your local community and service projects offer opportunities for membership growth – either full membership or as a ‘Friend of Kiwanis’ promote notion of belonging to reputable global organisation of volunteers supporting national and local programs source external funding for approved new projects Club publicity of new projects in ‘Australian Kiwanian’ – sharing your experiences with other Kiwanians and the public Offer ‘point of reference’ benefits to social media users to prospective donors – such as Mother’s Day MNT Appeal
Foundation Assistance to Clubs assist Clubs verify new project is Eligible Project compliant and satisfies statutory requirements obtain KIAD Board approval for new project as an Eligible Project for an Eligible Entity receive project donations from Club or donors either as a direct deposit, cheque, credit card (including regular instalments) and issue receipts to each donor record each donation for each approved Club project in separate accounts release accumulated funds to the approved recipient in accordance with Club requirements in medium-term to make Grants to Clubs for Eligible Projects and Eligible Entities (timeframes and process to be developed)
Club Assistance to Foundation Currently Foundation donations received for HeartKids and MNT approved projects Clubs can assist expand donations and gifts: to both current and new Eligible Projects for Eligible Entities to allow Foundation to accumulate funds for investment purposes to allow future grants to be made
Question for Delegates Would you support a proposal for Clubs to make an optional annual contribution to the Foundation (based on total Club membership) to allow an accumulation of funds for investment and grant purposes? Based on $10 per member this would raise a maximum of $10,000 pa This proposal is similar to existing Club assistance to Kiwanis International Foundation (KIF) BUT Clubs would be urged to continue their support to KIF which every year offers grants to individual Clubs towards shared costs for projects primarily assisting young children. AND In 2009 KIF donated $20,000 towards a children’s playground in Marysville - part the bush fire recovery program Are there any Comments or Questions?
Next Steps Convention Delegates now requested to simply write Yes or No on the ballot paper Your opinions are not binding but will allow both the Foundation and KIAD to develop future strategies. Thank You.