Australian Communities Foundation CEO, Andrew Binns, has welcomed the delivery of historic reforms that will unlock new opportunities for giving through community foundations.
After two decades of sector-wide advocacy, the Australian Government has announced the introduction of a new charitable structure specifically for community foundations, called a ‘community charity’.
“These reforms will help grow generosity across the country and channel more resources into communities,” said Andrew.
“We applaud our colleagues at Community Foundations Australia (CFAus), Philanthropy Australia (PA), and all those who worked tirelessly to secure this outcome including the Australian Communities Foundation team who have been involved throughout.”
As explained in CFAus and PA’s joint media release, “Community foundations have faced major barriers to attracting donations from private ancillary funds used by individuals and families for private giving. They have also been constrained from directly supporting community groups lacking deductible gift recipient (DGR) status.
“The reforms will directly address these issues by introducing a new ‘deductible gift recipient’ (DGR) category for community foundations… creating a more fit-for-purpose environment for community philanthropy in Australia.”
Our team is currently navigating the detailed steps needed to establish this new structure. For most Fundholders, there will be minimal to no changes to your Fund’s current structure and processes. However, we’re actively reviewing and updating our policies and processes to ensure those Funds best positioned to benefit from this new structure can do so easily and effectively.
As soon as we have clear timelines and updated policies, we’ll hold a special webinar to provide a comprehensive overview and help you better understand how this new community charity could benefit your Fund.
Stay tuned – we’ll continue to share updates in our monthly newsletters.
