Govt Sets Up Philanthropic Funding for Schools
14 June 2013 at 10:18 am
The Federal Government has set up a fund to attract philanthropic funding to assist schools in need.
The Government committed $5 million to start the new national fund which, it hopes will attract and direct philanthropic donations for schools experiencing disadvantage.
Parliamentary Secretary for School Education, Senator Jacinta Collins said the foundation funding would create a national fund which aimed to build the capacity of schools to develop philanthropic partnerships, support schools experiencing disadvantage to improve education outcomes, and provide a mechanism to harness and direct philanthropic donations.
"Individuals and businesses continue to show that they are prepared to donate money to schools and there would be clear benefits for schools to encourage and expand this at a national level,” she said.
“This is especially true for schools in need that don’t have the expertise or networks to attract these philanthropic donations. While philanthropy should never replace the role of government in funding schools, it is clear that better arrangements should exist to help schools and donors join forces."
Collins said discussions were underway in the Not for Profit and philanthropic sectors regarding the structure of the fund.
The creation of a national fund was a recommendation of the Review of School Funding and is hoped to support and complement the valuable work already being done by philanthropic and community organisations to support school education, Collins said.
The fund will hold deductible gift recipient (DGR) status which will actively seek tax deductible donations of up to $10 million per annum, said Senator Collins.
"With this status the fund will be given the flexibility to direct funding it attracts towards a broader range of educational uses than school building funds and scholarships, and collaborate with existing organisations to support solutions that address educational disadvantage.”