Setting up a Sub Fund

Creating your own named Sub-fund

Example: ‘Smith Family Sub-fund’

The Viridian Foundation gives individuals and families the ability to have a sub-fund

(also known as a giving fund) within the infrastructure of the Foundation. It is a simple, flexible and tax-efficient structure to invest, grow and give money to charity.

Benefits of Structured Giving

Structured giving allows for thoughtful, strategic, and focused giving that creates a greater impact. By utilising the Foundation you can:

Make a tax-deductible donation now and decide which charities to support later.
Invest your charitable funds over the long-term.
Provide a continuous revenue stream to charities.
Involve family members and create a legacy.

Creating a Legacy

One of the most important aspects of structured giving is the ability to create a legacy. Structured giving through a fund allows you and your family to experience the benefit of your giving whilst living, but also allows for your loved ones and future generations to follow your philanthropic vision for years to come.

How it works

A sub-fund in the Foundation is a charitable investment and giving account. You receive an immediate tax deduction for the cash that you contribute to your giving fund, but the flexibility to distribute the funds to charity over time. While you think about which charities to support from your fund, the balance is invested, and returns are tax-free, offering a style of giving that allows you to both give and grow money for charity.

Minimum initial donation of $50,000 and minimum subsequent donations of $5,000.

Donor & Funds giving

It is important to understand your donation forms part of the overall funds held in the Foundation and are not a separate fund.

Funds are not invested separately and are not separately accounted for in the statutory financial statements of the Foundation. The Foundation will provide an annual report of the assets and grants attributed to the sub-fund to the donor but is not obliged to do so.

The Sub-fund account holder will provide giving recommendations to the trustee, but the trustee has the ultimate decision in approving annual giving distributions to registered charities.

Investment objectives

It is important to understand your donation forms part of the overall funds held in the Foundation and are not a separate fund.

The Sub-fund account holder will provide giving recommendations to the trustee, but the trustee has the ultimate decision in approving annual giving distributions to registered charities.

Portal

A sub-fund of the Foundation could request a transfer of its balance to another authorised

Public Ancillary Fund or to a Private Ancillary Fund. There are very strict conditions of the ATO to be met for such a request to be approved.

Financial advice