Australian Communities Foundation (ACF) is dedicated to making philanthropy easy and accessible.
As part of this commitment, we have refined several policies to better align with our current operations and ensure Fundholders have the guidance and flexibility they need.
These updates, effective from 1 January 2025, provide clearer pathways for Fund management and greater support for your giving goals.
We encourage Fundholders to review the key policy updates below and explore specific policies, including Fund Establishment, Gift Acceptance, and Fund Succession, available on our website. All other policies are available upon request.
Key Policy Updates
1. Named Fund Expenses and Reimbursements Policy
- We’ve expanded eligible expenses to include insurance, professional development, and travel/accommodation for philanthropic events, so you can grow your knowledge and connections in the sector.
- To ensure sustainability, Funds with balances below $10,000 will generally not be eligible for expense claims.
2. Investment Strategy Changes Policy
- Fund Advisors may request a change in investment strategy once per 12-month period (e.g., shifting from a long-term to a short-term strategy).
3. Fund Establishment Policy
- To make it easier for new Funds to start their journey, we have reduced the minimum Fund balance to $10,000 for most Funds (from $20,000), effective since 1 July 2024.
4. Gift Acceptance Policy
- We accept gifts in a variety of forms, including cash, shares and property.
- We’ve also strengthened our commitment to ensuring donations are not misaligned with our values.
5. Fundraising and Expense Policy
- We’ve expanded the definitions of eligible and ineligible fundraising activities. Eligible activities include hosting functions and events, sponsoring someone to participate in an event, and selling goods.
- To give you more flexibility, we’ve increased the expense-to-income ratio limit from 40% to 50% (e.g., for an event raising $10,000, up to $5,000 can be claimed in expenses).
6. Gifts in Wills Policy
- To ensure a lasting legacy, we have introduced a $100,000 minimum for Legacy Funds. If a legacy gift to ACF is below this amount, it will support the Impact Fund, ensuring every dollar contributes to meaningful change.
7. Fund Succession Policy
- We’ve added clarity around how succession planning works, ensuring the original primary advisor’s role is well-defined.
- To make transitions smoother, new Funds will now appoint a successor at the time of establishment.
- Successor advisors have the flexibility to modify focus areas unless restrictions apply, ensuring Funds can continue to reflect changing priorities.
- We’ve also added guidance on resolving disputes, including those arising from life changes.
8. Fund and Account Closure Policy
- We’re introducing more proactive engagement by shortening the inactivity period from 2 years to 12 months. This helps us stay connected and ensure Funds remain active and impactful.
- If a Fund needs to transition, we now have clearer pathways, including converting Funds back to Gumnut Accounts where appropriate.
- We’ve also outlined specific circumstances where ACF may need to close a Fund, ensuring transparency and fairness.
Next Steps
These updates reflect ACF’s commitment to strong governance and ongoing support for our Fundholders.
If you have any questions or require further support, please contact Thomas Lopez, Fund and Client Services Lead, at 03 9412 0412 or email community@communityfoundation.org.au.
