Trustee
responsibilities
Each PPF
needs a minimum of two individual trustees, or one corporate trustee
responsible for its management. One of the trustees or directors must be
independent. They may not be associated with the donor in anything other
than a professional capacity.
Strategic investment
planning
The Philanthropic
Services team can help you manage the way you invest the funds in your PPF
to achieve your income and growth objectives, while at the same time
meeting your ongoing cashflow needs.
We offer a range
of investment management strategies, incorporating the desires and
objectives of the PPF.
Our team has
extensive experience managing investments. We understand the tax
planning considerations that can make a difference to your PPF's net
return, and we can design investment mandates that accommodate any ethical
investment objectives your PPF may have.
Establishing operating
guidelines
Although they are
not mandatory, operating guidelines are helpful in ensuring the functions
of your PPF are aligned with your philanthropic vision, and can make the
experience easier and more rewarding for you and the causes you want to
support.
Operating
guidelines include a clear mission and vision statement, describing what
you want to achieve and how you want to achieve. They are useful when you
are establishing your PPF to focus everyone's attention on what your PPF
is aiming at achieving. Further down the track, they are invaluable as
they can help to ensure your PPF is remaining true to its purpose. Our
team can help you articulate your mission and vision as well as help you
formulate your investment policy, including any socially responsible
investment guidelines you may wish to include.
We can also help
you prepare the guidelines you wish your PPF to follow when it distributes
funds. With a clear grant selection and evaluation process as well as a
transparent distribution policy, you can be sure the activities of your
PPF will meet your objectives.
Ongoing management of
prescribed private funds
The team can help
you with your ongoing compliance, investment management and reporting
through our PPF Portfolio Management Service.
There are a number
of regular activities a PPF must undertake to retain its status as a PPF.
The Australian Taxation Office requires certain information each year
about the activities the PPF has undertaken that year.
It must also
inform the Australian Taxation Office if it has changed in anyway that
would mean it is no longer eligible for Deductible Gift Recipient or tax
concession charity status.
The Philanthropic
Services team can help you meet the ongoing management, reporting and
compliance needs of your PPF.
Comprehensive
investment reporting
Our investment reporting service provides you with quarterly performance
information that details the income and growth of the funds in your PPF.
Annual reporting
includes all the information required by the Australian Taxation Office.
This includes details of the fund's activities for the year and an
application for a refund of any imputation credits.
Compliance
requirements
Every year, PPFs must be audited to comply with law. As part of our PPF
Portfolio Management Service, we will arrange for an annual, independent
audit of your fund.
To retain their
Deductible Gift Recipient and tax concession charity status, every year,
or whenever a significant change takes place, PPFs must review their
activities to assess whether or not they are still entitled to enjoy these
status. Details of distributions and benefits provided must be completed
in full and returned annually to the Australian Taxation Office.
The Philanthropic
Services team can help you assess your activities for entitlement to
Deductible Gift Recipient and tax concession charity status. We can also
help you complete the worksheets provided by the Australian Taxation
Office. |
