02 Jun Public Ancillary Funds – a great way to give
A public ancillary fund is a structure that allows a planned approach to charitable giving. A tax deduction is available in the year of the donation, while the giving to charities can be spread over subsequent years as an ongoing philanthropic process.
The benefits of public ancillary funds include:
- Taxation benefits – the money donated into your sub-fund is usually tax deductible in the year of the donation. A public ancillary fund is a tax exempt structure, so the philanthropic dollar goes further.
- Simple – A public ancillary fund has the administration, investment a as the responsibility of the trustee, leaving donors solely to think about the charities they would like to support.
- Quick – A sub-fund can be established immediately A donor simply opens a new ‘sub-fund’. This can be opened with a minimum of $50,000.
- Naming – The sub-fund can have a specific name, such as a family name, and grants to charities from the sub-fund will refer to this name. Anonymous grants are also possible.
About Reuben Zelwer
Reuben Zelwer established Adapt Wealth Management in 2011 to help time poor clients achieve financial freedom. For over 15 years, Reuben has helped professionals, executives, business owner and those approaching retirement make the most of their circumstances by making good financial decisions. Reuben’s professional practice is complemented by substantial voluntary work, which has included setting up financial literacy and savings programs in the local community.