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What is a Sub-fund?
Each organisation can have its own mission statement included in QCF literature. These sub-funds can be set up by an individual, business entity or charity. The income which is derived from the capital is paid out annually by the Public Trustee for charitable purposes. The person, business entity or charity which established the sub-fund may put recommendations to the Trustee for consideration as to the recipient of the income. The Trustee is under no obligation to comply with these recommendations. Sub-funds of the Queensland Community Foundation meet the requirements of the Australian Taxation Office which means that donations to all Sub-funds are tax deductible, including the initial establishment amount. |
A Sub-fund
is a management account within the single Trust Deed of the
Queensland Community Foundation. It may be named similar to its
public charity name for easy recognition and is established at no
set up cost.