Impact 25 Winners
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




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Tags : Philanthropy,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published.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



YOU MAY ALSO LIKE

Sub-funds – A Growing Force in Australian Philanthropy

Krystian Seibert

Tuesday, 19th March 2019 at 8:55 am

The ‘Hidden Gem’ of Philanthropy

Wendy Williams

Tuesday, 19th March 2019 at 8:44 am

What Does $87M of Giving Look Like?

Jodi Kennedy

Tuesday, 19th March 2019 at 7:30 am

Retirees Go Back to Nature With Their Savings

Maggie Coggan

Wednesday, 13th March 2019 at 5:22 pm

POPULAR

The ‘Hidden Gem’ of Philanthropy

Wendy Williams

Tuesday, 19th March 2019 at 8:44 am

Advocacy Groups Struggle Amid Growing NDIS Waiting Lists

Luke Michael

Wednesday, 20th March 2019 at 11:46 am

Gen Y Emerge as Australia’s Most Generous Givers

Luke Michael

Thursday, 14th March 2019 at 9:00 am

Disability Housing Conference
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!