Foundation Grants to be Made When Pooled Funds Grow - June 13, 2006
The Buderim Foundation will start evaluating potential local community projects to support when its fund reaches an amount sufficient to generate substantial income, Chairman Gary Hopkins said. "Only the income from the pooled funds will be used so that donations and bequests are held in trust for ever. So, we'll need a large pooled fund," he said.
"On present indications, therefore, we expect to reach a sizeable amount in about 2½ years and to begin giving grants soon after." Mr Hopkins said, however, it could be sooner if the fund topped a million dollars.
The Buderim Foundation, an independent, not-for-profit, philanthropic organisation, was established by the Buderim War Memorial Community Association in 2003 to attract donations from individuals, including bequests and tax deductible donations.It will make grants to local not-for-profit organizations that add to Buderim's quality of life.
Mr Hopkins said that the Foundation's Board had identified six primary areas for possible grants. These include:
- Protecting and preserving the natural environment,
- Helping people in need to live healthy and fulfilling lives,
- Adding richness and diversity to local artistic and cultural endeavours,
- Increasing learning opportunities for all ages,
- Celebrating and showcasing our heritage and local history, and
- Encouraging and supporting those with recreational interests.
"Nearer the time we will be consulting all sections of the Buderim community to identify some of the most pressing needs that would otherwise not be provided for," said Mr Hopkins.
"In the meantime the Foundation is concentrating on raising the community"s awareness and understanding of the Foundation and on encouraging support in the form of donations and bequests," he said.
He added that anyone wanting to make a donation or bequest could contact a Board member or visit the Foundation's website www.buderimfoundation.org.au or post donations to the Buderim Foundation, PO Box 1408, Buderim, Queensland 4556.
Mr Hopkins said the Foundation planned to provide local solicitors and accountants with information about the Foundation. "So that anyone wanting to know how to make a donation or bequest could also get professional advice. Some residents have also said that they want to make sizeable bequests or donations in permanent memory of a person or family."
Mr Hopkins said that administrative expenses involved in establishing and running the Foundation were being met out of funds donated by sponsors, the Neuendorf Group, Buderim Chronicle, and the Buderim Pharmacy.
