Protecting philanthropy for the long term
The philanthropic sector has ramped up its fight against a proposed mandated distribution rate for prescribed private funds (PPFs), as Simon Mumme reports. The philanthropic sector fears that a high compulsory donation rate could threaten the viability of prescribed private funds (PPFs), and is asking Treasury to enforce a level of giving consistent with the
March 01, 2009
The shape of things to come
What an extraordinary year was 2008 – the year of the financial crisis. This year we find out the damage to the real economy. Meanwhile, markets remain volatile, focused on the short term. The collapse in the equity market last year was an overreaction, opening up invest ment opportunities for those brave enough to take
February 07, 2009
Giving at a good rate
A proposal to mandate a donation rate could threaten the future of the philanthropic vehicles used by wealthy donors, writes Simon Mumme. Philanthropy Australia, the national peak body for philanthropy, is concerned that a new law proposed by the Federal Government could wipe out a steadily expanding population of donors to the community sector –
February 01, 2009
Global financial crisis nips upturn in the bud
As the financial crisis came to a head over the last four months, the severity of the credit squeeze escalated damage to the real side of economies around the world, including Australia. Economic forecasts from the RBA, Treasury, the OECD, the IMF and BIS Shrapnel, amongst others, have all been revised downwards. And that has
December 07, 2008
Guaranteed giving when society is hit hardest
Even as financial stress affects our capacity to give, specialised philanthropic vehicles can keep funds flowing to the community sector, writes Simon Mumme. As the Australian economy contracts, the community sector will work overtime as more people enduring fiscal hardship seek its services. But non-profit organisations will have fewer resources to meet this demand. The
December 01, 2008
Fortune favours the bold
Should we regard the extraordinary falls in share prices as a reason to seek the security of fixed interest or as an opportunity to invest – to take an equity position at a price unimaginable a short time ago? Let’s face it. The US, the UK and parts of Europe are going into recession and
November 07, 2008
Transformers – more than meets the eye
“Emerging philanthropists” target the roots of social problems, writes Simon Mumme. Some call it the golden age of philanthropy. It was heralded by the donations of super-rich ‘billanthropists’, Bill Gates and Warren Buffet, who committed a combined $US61 billion to The Bill & Melinda Gates Foundation in 2006. In Australia, giving has been nowhere near
November 01, 2008
Turning trash into cash for non-profits
Investors’ small, idle shareholdings can create a nice cashflow to the community sector, writes Simon Mumme. Freecycle, a worldwide consortium of 4593 online groups, connects people on the verge of throwing out all kinds of functional “stuff ” to others looking for the same items. The non-profit organisation’s rapid growth since its 2003 inception proves
October 01, 2008
More creativity needed to attract high-net-worth clients
Robb Musgrave examines how to create a “living legacy” and build a trusted adviser relationship. Investment products have become transactional, with growing compliance narrowing competitive difference. Traditional financial planners in a crowded vanilla brand market need to differentiate themselves with superior energy, product knowledge and service. A more creative approach is needed to attract, retain
September 01, 2008
Building Future2 from the bottom up
Financial planners are being called on to give something back to the communities from which they draw their livelihoods, writes Simon Mumme. With much Baby Boomer money to manage and compulsory superannuation inflows to direct, the financial services industry has been good to financial advisers. Having benefited from its growth, the industry “does present planners
August 01, 2008
Motives must be transparent
Good reporting gives donors confidence their money is going to where they expect, writes Simon Mumme. Earlier this year, $20,000 was awarded to the winner of an inaugural award for transparency in non-profit reporting. But the prize, handed out in the PricewaterhouseCoopers (PwC) Transparency Awards, is not the only reward the winning non-profit organisation, the
July 01, 2008
Relief, but no rain
Three pro bono financial advice pilot programs have begun in the past 12 months, and two of them are aiming for nationwide expansion, writes Simon Mumme. Not all of the recent financial pain in Australia is due to the sharemarket downturn. Many Australian farmers have become saddled with debt in an effort to keep properties
June 01, 2008
