What is a Named Sub-Fund?
A named sub-fund is an account used to collect or hold funds that generates income. The income is then dispersed to local charitable organisations.
A named sub-fund gives you the chance to provide community assistance at a grassroots and personal level. It is an efficient way of supporting your area of interest, charitable cause or to commemorate a special someone.
You can make a substantial ongoing impact within your local community by identifying your particular interest and supporting it with a financial commitment.
Setting up a named sub-fund is an easy way to involve a family or business in a meaningful and fulfilling philanthropic experience. Donations can be made at any time and many people can contribute. It is easy to follow a sub-fund’s progress. You can see firsthand the difference your contribution makes. It’s a wonderful experience to be involved in.A named sub-fund is a simple option for an individual or family who want to give in perpetuity without the cost and legal requirements of setting up a Private Ancillary Fund or Family Foundation.
It is also a great option for businesses wanting to be more active in their support of the local community. It can be a positive way to encourage staff development and involvement in giving.
All donations towards named sub-funds are tax deductible.