Causes and issues close to the hearts of South Australians will be the beneficiary of a new charitable fund being launched with the help of $270,000 from the Marshall Liberal Government.
Foundation SA will give South Australians, including individuals, corporates and philanthropists the ability to make a tax-deductable donation that will provide support to the South Australian community for years to come.
Donors will have the option of contributing to a general fund for the benefit of South Australia or, for an initial investment of $20,000 or more, they can establish their own sub-fund targeted to a specific South Australian cause or issue.
For example, donors may choose causes close to their heart, small grass-roots charities, large international non-profits or scholarships for individuals.
The Marshall Liberal Government’s funding is being matched by funding from the Wyatt Trust Benevolent Institution Incorporated (The Wyatt Trust) to support and establish Foundation SA.
Minister for Human Services Michelle Lensink said Foundation SA was a “gamechanger for philanthropy in this state.”
“South Australians are known for digging deep at times of crisis and adversity – and the establishment of Foundation SA means donations made by South Australians can stay in South Australia and target the issues that matter most to our community,” said Minister Lensink.
“Now individuals and businesses looking to make philanthropic donations have a single place to channel their contributions at any time, knowing their money will be spent in South Australia, and with the option to target donations to the cause closest to their heart.
“Foundation SA gives aspiring donors an opportunity to begin a new era of philanthropic giving in our state and by bringing together philanthropists, government, businesses and charities in a way that maximises the power of their donations.
“Foundation SA will make a real impact on core issues of disadvantage and vulnerability in our society, such as poverty, homelessness, violence against women, education and justice.”
Foundation SA has been established as a not-for-profit community-owned fund, with the Wyatt Trust to oversee its strategic direction and administrative support provided by the Australian Community Foundation.
The Wyatt Trust and Foundation SA CEO Stacey Thomas said Foundation SA aims to grow to $10 million within 10 years.
“After the social, health and economic loss experienced in 2020, it has never been as important as it is now to look to the future with a view to how we can make a positive impact for our state,” said Ms Thomas.
“Foundation SA makes philanthropy easy and accessible for anyone wanting to give back without the administrative burden of establishing their own private foundation.”
Donations to Foundation SA are tax-deductible. For more information on Foundation SA or to donate online, visit www.foundationsa.org.au.