There are two types of fund to which donations can be made, the Public fund and the Charitable fund.
The Public fund is established to accumulate donations from people, businesses and organisations. The fund is set up to give the donor tax deductibility for the donation (‘donor gift recipient’ DGR status). Moneys earned from investment of this fund will be distributed to organisations which also have DGR status and who meet the mission of the foundation.
The Charitable fund is established chiefly to receive bequests (from a will), but also other donations. The charitable fund is not able to give the donor tax deductibility for their donation/bequest. Moneys earned from investment of this fund will be directed to organisations and groups for charitable purposes (which can include, but is not restricted to organisations with DGR status). The accepted interpretation of charitable purposes include activities such as:
- The relief of poverty
- The relief of the needs of the aged
- The relief of sickness or distress
- The advancement of religion
- The advancement of education
- Other purposes beneficial to the community (Animals, Culture, Defence & Public Order, Environment, Health, Indigenous Persons, Industry, Commerce & Agriculture, Locality or Neighbourhood, Moral Improvement, People with Disabilities, Public Works & Utilities, Research, Science, Unemployment, Young Persons)