NDIS Criterion
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

Prescribed Private Funds On the Rise


Saturday, 23rd February 2008 at 12:21 pm
Staff Reporter
The number of Privately Prescribed Funds (or PPFs) is on the rise with over $1billion dollars estimated in accumulated funds according to QUTs Australian Centre for Philanthropy and Nonprofit Studies (CPNS).

Saturday, 23rd February 2008
at 12:21 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Prescribed Private Funds On the Rise
Saturday, 23rd February 2008 at 12:21 pm

The number of Privately Prescribed Funds (or PPFs) is on the rise with over $1billion dollars estimated in accumulated funds according to QUTs Australian Centre for Philanthropy and Nonprofit Studies (CPNS).

PPFs are described as tax effective vehicles for individuals, families and corporations to establish a foundation and were set up under the Howard Government in 2001.Their aim is to provide money, property or benefits to organisations with Deductible Gift Recipient status (DGR).

In 2001, 22 PPFs were approved and by 2008 that number has risen to 610

Between 2002 and 2006 a total of $183.7m has been distributed to eligible DGRs with the majority going to organisations under the welfare category which have received grants totalling $67.7m.

This was followed by education with $33.2m, cultural organisations with $13.7m, and health with $10.4m.

CPNS says in 2006 while the welfare category remained stable and the education category fell slightly, it was the cultural and health categories which experienced substantial growth in 2006.

The category experienced a 226% increase to $5.22m and health with a 233% increase to $5.70m. For the first time in 2006 there were distributions in the DGR sport and recreation category and the family category.

It says several sub categories also benefited from PPF grants between 2002 and 2006.

Since 2002 the top five DGR sub categories were Public Benevolent Institutions ($63.24m), school building funds ($20.36m), environmental organisations ($9.48m), public universities ($8.69m) and approved research institutes ($4.64m).

For the first time in 2006 disbursements were made to an overseas aid relief fund totalling $4.76m.

The CPNS assessment of PPFs is carried out using figures provided by the Australian Tax office.

To view the PPF Current Issues Sheet in full go to: http://www.bus.qut.edu.au/research/cpns/documents/2008_1_PPFs.pdf



FEATURED SUPPLIERS


NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Yes we’re lawyers, but we do a lot more....

Moores

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

The Impact Compass

Lina Caneva

Wednesday, 8th November 2017 at 4:52 pm

Philanthropy and Democracy

Sarah Davies

Wednesday, 11th October 2017 at 2:24 pm

POPULAR

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Donors Looking for a Personalised Experience to Give More – Study

Lina Caneva

Wednesday, 8th November 2017 at 1:43 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


NDIS Criterion
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!