South Australia’s new statewide community foundation, Foundation SA was launched in May, providing a new giving opportunity for many donors and increasing support for a range of local communities. Foundation SA aims to grow to $10 million within 10 years.
The Foundation will be the fifth community foundation in South Australia – along with Foundation Barossa, the Eyre Peninsula Community Foundation, the Fleurieu Community Foundation and the Stand Like Stone Community Foundation. Foundation SA is a perpetual fund that will grow its corpus from tax-deductible donations, from individuals, organisations, bequests and government. There is the opportunity for individuals, families and corporates to establish a fund of their own with the new Foundation, with an initial investment of $20,000. There will also be a general fund that will be used for all South Australians, with regular grant rounds based on the needs of community at the time. Donors to Foundation SA can decide which cause areas they would like to support and grant a percentage of earnings each year to charities working on the issues that matter most to them.
To view the Foundation SA website, click here.