Update on the Community Foundation plans
Work is well underway, with Chair Dick Kearins liaising with the Greater Good Foundation to manage the governance requirements of our local foundation. This is the model used by the Upper Lachlan Foundation, which has been operating very successfully for the last ten years.
Having a local community fund is the best way for local groups to support local causes and know that donated funds are being managed effectively and going to where it is needed.
To start a Community Fund requires a corpus - this is the nest egg money that is invested and only the interest earned on that investment is able to be distributed.
So, our first task is to find ways to raise the seed money for the corpus , by being able to offer DGR status to local donors.
DGR Status means that any donation above $2 is tax deductible.