Philanthropy Australia launches Private Ancillary Funds Trustee Handbook
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Private ancillary funds are philanthropic trust funds that can be set up as a vehicle for private giving. There are now over 800 individual private ancillary funds which have collectively received donations of over $1.3 billion, and made distributions of over $300 million.
In launching the Handbook, the Federal Assistant Treasurer Nick Sherry said “Trustees and directors of private ancillary funds will find the Private Ancillary Funds Trustee Handbook to be a very valuable guide.”
“The Handbook contains information that will help trustees determine their roles and duties, including checklists and other information helpful to maintaining compliance.
“The document is just one of many helpful documents produced by Philanthropy Australia, as part of their bigger goal of encouraging Australian individuals, businesses and families to support activities that have a broad public benefit.”
