Foundation
What is a Community Foundation
An independent philanthropic organisation working
in a specific geographic area.
By attracting tax deductible donations to its
Public Fund, it builds a capital base known as
the corpus - a body of money that is kept in
perpetuity.
This provides a permanent and growing source of
funding to the community with the interest on the
corpus returned as annual grants.
In addition, the community foundation via the
Open Fund can also attract funding which will
flow through to support charitable purposes.
Foundation Details: Why a
Community Foundation
Tasmania has a proud history of responding to
others in times of crisis or acute need.
However, there are chronic issues that need
attention.
Foundation Details: Benefits
The Tasmanian Community Foundation can assist any
citizen prepared to work with others to achieve a
positive change for their group or their community.
Financial resources are available from the
Foundation to support eligible projects that aim
to strengthen or develop local communities.
The Tasmanian Community Foundation Public Fund
has been endorsed by the Australian Taxation
Office as an Income Tax Exempt Charity and
Deductible Gift Recipient (DGR).
Donations and bequests to the Public Fund are
fully tax deductible. Gifts in kind, such as
shares or real estate, are exempt from capital
gains tax and Tasmanian stamp duty. The Community
Foundations Open Fund is Income Tax Exempt.
Foundation Details: Purpose
The Foundation aims to continue to be an
excellent information resource on funding and
development of community projects.
To offer excellent mentoring and networking
opportunities through the goodwill of all people
spanning the public and private sectors in the
State.
Building this network works both ways - those
helped may be able to then help others by way of
advice, mentoring, 'door-opening', or financial
donation.
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