Philanthropic Funds for Sport a Key Focus of National Sports Plan
Friday, 3rd August 2018 at 4:57 pm
Securing increased philanthropic funds for grassroots sport is a key focus of a new national sports plan, with the federal government supporting a new charitable fund that offers community sports clubs access to tax-deductible donations.
Minister for Sport Bridget McKenzie unveiled the government’s national sports plan on Wednesday, with a focus on increasing philanthropic revenue and the financial sustainability of Australian sport.
The federal government has supported the Australian Sports Foundation (ASF) by giving its recently established charitable fund Deductible Gift Recipient (DGR) status.
This allows the charity to access the $550 million distributed annually by Private and Public Ancillary Funds, which can be funnelled into community sports clubs.
ASF CEO Patrick Walker told Pro Bono News he was delighted the foundation’s growing role in funding community and grassroots sport was highlighted in the plan.
“We have now raised around $150 million for sport in just the last four years which is a great achievement,” Walker said.
“However, there is enormous scope for greater growth and following the establishment of our new charitable fund, we will be working hard to ensure funding needs are met.”
ASF aims to raise at least $100 million each year by 2021, with an eventual goal of growing community and philanthropic donations to between $200 million and $300 million within 10 years – targets comparable to the philanthropic funds provided to the arts.
For this to be achieved, community organisations need greater awareness of the benefits of accessing tax-deductible philanthropic contributions to support grassroots sporting programs, Walker said.
“We urge all sports bodies to advise their member organisations and clubs of how working with [ASF] can enable donors to make tax-deductible donations to improve community facilities, purchase equipment, and increase sports participation – particularly among marginalised members of society,” he said.
“We will be meeting and speaking with key stakeholders in the philanthropic community to highlight the need and benefits of sport when distributing their assets.”
Minister McKenzie said the national sports plan would encourage a greater role for philanthropy in funding grassroots sports.
“The government is strengthening the role of the Australian Sports Foundation, to attract greater philanthropic donations,” McKenzie said.
“The foundation already has a unique tax deductible status to raise money to develop sport at all levels, and the increased scope will help it to grow donations.”