FAQs

 1. When was the Foundation Established?

 The Foundation was established in 2004 by a group of like-minded people from the region with a grant from FRRR (Foundation for Rural and Regional Renewal )

 

 2. What are Sub Funds?

There are a number of options for the placement of donations. The Foundation has established management accounts named for a particular cause or after the donor. These are referred to as Sub Funds and operate as internal records for the purpose of tracking donations and grants attributed to a donor or cause.

 

 3. If I establish a Sub Fund, can I decide what projects to fund?

Tax law prevents donors from specifying the recipients of grants. All grant recipients must be decided by the Board, but will consider recommendations received from donors.

 

 4. What are Sponsorships?

As an alternative to a donation, businesses may prefer to enter a sponsorship arrangement through which they receive public recognition for their support or other benefits. Businesses are able to claim the cost of the sponsorship as an expense in their tax return, and GST is payable on the money received by the Foundation.

 

 5. What are cause-related marketing programs?

These are marketing programs established by businesses whereby the business promotes a product or service and agrees to give the Foundation money related to the success of the marketing program. GST is payable on the money received by the Foundation.

 

 6. What is flow-through funding?

Flow-through funding is used when a donor wants to fund a specific community project using the entire donation, rather than invest the funds. The Foundation charges an administration fee of 10% for this service.

 

 7. How are administration costs funded?

Administration is funded with donations made specifically for this purpose and donors are given the option of allocating some part of their gift to administration. The Board also allocates 1.5% of the capital base to administration each year, which is in line with practices of other community foundations.

It needs to be noted that Board members provide their time freely, and personally fund all hospitality (such as information nights) in conjunction with catering support from local business. 

 

 8. Is my donation tax deductible?

Donations to the Foundation are generally tax deductible if they meet the ATO requirements for tax deductibility. This means that to be considered a donation, the donor must not receive a material benefit (such as event tickets or promotion of their business) for their support. Donations of $2 and over are tax deductible and the NRCF will issue a receipt. Regular donors will receive one itemised receipt detailing all of their deductible contributions at the end of the financial year.

 

9. Who can receive grants from the Foundation?

The Foundation has a Trust from which grants can only be made to organisations with “deductible gift recipient status”. The Australian Tax Office has endorsed more than 19,000 Deductible Gift Recipients. 

 

10. How do I apply for a grant? 

Grant applications usually open in August/September each year for projects that usaully take place in the following calendar year. Information is posted on this website, our facebook page and local newspaper advertisements. Applicants need to complete the application form and supply all required supporting documentation by the due date to be eligible for consideration.

 

11. What are Information Evenings?

These events are held regularly at the home of one of our directors or ambassadors, typically between 6-8pm.  They are esentially social events with drinks and finger food provided, coutesy of the directors, ambassadors and sponsors. You will meet the Foundations directors, supporters and other people involved as well as hear about the work we do from some of our grant recipients. These meeting are also an excellent way to meet like minded people from our region.