Professional Advisers Network Options for Giving 1 November 2010 Guest Chair: Denis Tracey Panel: Peter Hunt Bruce Christie David Knowles

Options for Giving: Comparative Features Private Ancillary Fund Community Foundation Subfund Charitable Endowment Fund (institution) Direct Donations Initial Contribution Approx $0.5M$50k over 5 years $20kNo initial cost Start up cost Nil (SVA) $5 - $10k Nil On-going costs $5k flat fee (SVA) + Audit 1% ongoing (total) 5%1.83%Nil

Options for Giving: Comparative Features Private Ancillary Fund Community Foundation Subfund Charitable Endowment Fund (institution) Direct Donations Advantages Maintain philanthropic control as Trustee Think as fiduciary Access to professional advice Separate decision to give vs grant Encourages family involvement Access to professional advice Resp. of CF to have strong community knowledge Legacy Encourages family involvement Can est. workplace giving programs Donor involvement Access to professional advice Legacy National Encourages family involvement Can est. workplace giving programs Flexibility - can stop/start Giving goes directly and immediately Can continue to tie giving to tax situation

Options for Giving: Comparative Features Private Ancillary Fund Community Foundation Subfund Charitable Endowment Fund (institution) Direct Donations Limitations Dist. 5% each yr Must develop Board of Trustees Admin Grant process External costs of accounting, etc Limitations in gaining public donations to PAF Tied to Trustee Geography of giving generally tied to community of the CF Tied to Trustee Not the same sense of community amongst donors Lack of personal involvement Unable to access wider community issues

Sydney Community Foundation Belinda Morrissey Executive Officer