Subscribe to News
Close Search
 
MEDIA, JOBS & RESOURCES for the COMMON GOOD

Philanthropic Sector Expands Sharply


26 March 2010 at 4:51 pm
Staff Reporter
PAF statistics for 2007-08 show strong growth in donations and assets in the philanthropic sector.

Staff Reporter | 26 March 2010 at 4:51 pm


0 Comments


 Print
Philanthropic Sector Expands Sharply
26 March 2010 at 4:51 pm

The latest Private Ancillary Fund statistics from the Australian Tax Office show strong growth in donations and assets in the philanthropic sector.

The statistics for the 2007-08 financial year show donations to Private Ancillary Funds (PAFs) increased by $178 million, with full-year donations increasing from $533 million in 2006-07 to $728 million in 2007-08. The ATO data also showed PAF assets increased from $1.48 to $1.89 billion over the same period.

The number of registered PAFs increased by 28% during 2007-08, bringing the total number of PAFs to 769.

The largest recipient of fund distributions in 2007-08 was the welfare sector, making up 31 percent of total distributions. Educational, environmental and cultural organisations also received a large proportion of donations.

Highlighting the statistics, The Assistant Treasurer, Senator Nick Sherry says support for the welfare sector is the core business sector of philanthropic funds and it makes a real difference to the lives of many disadvantaged members of the community.

Senator Sherry says publicly available statistics are important for accountability – they improve both the transparency of these funds and boost confidence in the charitable sector more generally.

PAFs are philanthropic trust funds that can be set up as a vehicle for private giving. Donations to PAFs are tax-deductible and must be distributed to organisations with DGR status.

The full statistics are available on the ATO website at www.ato.gov.au



PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

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 or download our contributor guidelines.

Tags : PAFs,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Your email address will not be published.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



YOU MAY ALSO LIKE

Has COVID-19 accelerated funding collaboration?

Contributor

Tuesday, 9th June 2020 at 7:00 am

Why DGR reform could boost collaboration in the philanthropic sector

Luke Michael

Wednesday, 20th May 2020 at 5:15 pm

Philanthropists given incentive to dig deep for struggling charities

Luke Michael

Wednesday, 6th May 2020 at 5:44 pm

COVID-19 relief efforts hampered by red tape burden

Luke Michael

Wednesday, 6th May 2020 at 5:22 pm

Subscribe to News
pba inverse logo
Subscribe Twitter Facebook
×

We need your help.

Since the outbreak of COVID-19, Pro Bono Australia has seen a devastating fall in advertising and less people posting on our job board, which is how we fund our free news service. You can show us that you value the work we do by making a contribution.

 Make a contribution 

You have Successfully Subscribed!