Anne Collett, Business Development Manager from the QLD Community Foundation was one of a stellar line up of guest speakers at the recent CoCB Community Development QLD Conference.
Complimenting insights by Kristi Mansfield, Sydney Community Foundation and Jeff Buchanan, Global Philanthropy, Anne also discussed further what is required from NFP organisations and the key terms used in the sector.
Grants and Funding
The QLD Community Foundation acts as a middle man between philanthropists and projects/organisations. To be eligible for one of the QLD Community Foundation grants your organisation must have a DGR status 1. This status will allow your organisation to receive gifts and issue tax receipts. More information here.
The QCF grants funding from the interest of the invested money granted by philanthropists. These grants are for capacity building purposes rather than on the ground services, to ensure longevity and promote sustainability in community organisations and projects.
Key terms in the philanthropic sector – get to know them!
- Impact Investing
- Social Impact
You’ll notice that the last two mirror the points from all our speakers – impact, social, investing. Philanthropic sources want to know what impact they will have, and that requires highlighting that impact in your proposals.
In upcoming annual reports from the QLD Community Foundation, successful recipients and case studies will be highlighted. You can receive copies of these from QCF and incorporate some of their best practices in your funding submissions.
Creating your own sub-fund
Along with grant giving, QCF also facilitate sub-funds for NFP organisations, private and business entities. There are more than 90 sub-funds set up with QCF providing organisations with a permanent income stream and donors and supporters with another alternative to direct bequests and donations. The income from the sub-fund investments are paid out annually by the Public Trustee for charitable purposes leaving the capital invested to generate more income. Here’s a list of sub-funds in the community sector providing a permanent income stream from the interest on the fund.
Sub funds do need to do the work of attracting donations and bequests into their fund.
Community organisations might establish their own sub fund through QCF or work with other groups to establish a collective sub fund. Establishing a foundation can be a lengthy legal procedure. Creating a sub fund of QCF means that the legal work is already done.
QLD Philanthropy Week
As part of the QLD Philanthropy week, QCF holds Philanthropist of the Year awards. QCF have put together some videos highlighting the generous giving of philanthropists around Australia. You’ll be suprised the diversity of donors we have here. View the winners and some interesting videos to start to get to know this sector http://www.qcf.org.au/default.asp?contentID=10
The Coalition of Community Boards would like to thank Anne for sharing her knowledge into sub-funds and foundations. She answered many questions from the floor and generated some lively discussion into new possibilities for our organisations. We encourage you to find out more about the Queensland Community Foundation and to sign up for their newsletters to stay updated www.qcf.org.au