What is the legal status of the Redland Foundation?
The Redland Foundation is registered under the Commonwealth Corporations Act 2001 as a charitable organization and operates within the constraints of the relevant tax and company legislation.
Who administers the Redland Foundation?
An experienced local Board of Directors give their time freely to administer the Redland Foundation, bringing to the table a wide range of skills and backgrounds, and a strong commitment to the welfare of the broader Redlands community.
What is the role of the Redland Foundation?
The role of the Foundation is to
- Receive donations and bequests (money in)
- Invest funds to generate money (money managed)
- Provide grants for community benefit and projects (money out).
How are funds raised?
The Redland Foundation provides an easy, flexible and ethical way for people to give. Donations are usually money but can be in the form of shares, life insurance, property, jewellery and other valuables
Loans may be made into a deeming fund, which is held for a specific period and then returned.
From time to time the Directors may launch a ‘donor drive’ to raise interest in the Redland Foundation and its objectives, and to attract new donors.
Directors may also elect to open a Public Appeal for specific purposes or to undertake fundraising activities.
What happens to funds that are donated?
All funds are held in trust and the income and/or capital, depending on the Trust, is used for grants. This is a permanent, independent and flexible source of local funding capable of responding to changing needs in the Redlands.
The Redland Foundation’s Public Trust has been granted Deductible Gift Recipient Status (DGR) by the Australian Tax Office. This means donations can be tax deductible.
The Redland Foundation’s Open Trust has been registered as a charity.
Who controls the Foundation?
The Foundation is administered by a group of Board members who are Redlands citizens with a demonstrated record of service to the community and/or who offer skills that can assist the Foundation to be run as an efficient, professional organization.
How does the Foundation decide how to distribute its income?
There are three ways in which income distribution is determined.
- External organizations and local agencies assist us in identifying worthwhile projects.
- Donors tell us how they want their money distributed.
- When sufficient funds are available, the Foundation publicly advertises the availability of financial support according to timely and relevant criteria that will be developed as needed.
How does the Foundation remain accountable to the community and its benefactors?
An Annual General Meeting is held once a year with annual reports issued, including financial statements that are audited by an independent registered auditor.
What other links does the Foundation maintain?
We have created important linkages to key organizations such as the Community Foundations of Australasia, the Queensland Community Foundation, Philanthropy Australia and the Foundation for Rural and Regional Renewal.
We liaise closely with all business, government and other community organizations to ensure we can work with and for the wider Redlands community.
Who can support the Redland Foundation?
Anyone who wants to make a contribution to the local community of Redland City can contribute to the Redland Foundation.