Attention: You are using an outdated browser, device or you do not have the latest version of
JavaScript downloaded and so this website may not work as expected.
Please download the latest software or switch device to avoid further issues.
All funds donated - for both buildings and bursaries - are paid to the Foundation. The Foundation has Deductible Gift Recipient (DGR) status, so only the Foundation can grant donors a tax deduction.
The Foundation does not own the funds it receives, they are released to the College on request for approved purposes (donated funds may only be used to support capital projects (eg ASHgrow and the Master Plan or bursaries).
No funds accepted via the Foundation may be allocated to general revenue, to do so would jeopardise its charitable (DGR) status.
Role of the Foundation
The Foundation has a single purpose, to attract and temporarily hold donated funds before releasing them to the College to support approved projects and programs.
Under Australia’s Corporations Act, the Marist College Ashgrove Foundation, is a company limited by guarantee, not having a share capital.
The Company has, subject to the provisions of the Act, the legal capacity of a natural person and its principal purposes are:
(a) To advance education by advancing, promoting and encouraging the educational purposes of the College, including by, but not limited to, providing financial, fundraising and other incidental support to the College.
(b) To act as trustee of trusts and funds which are presently or may be established for the benefit of the College or its students (“the Funds”).
(c) In its capacity as trustee of the Funds the Foundation’s objects are:
To manage the making of gifts and testamentary dispositions to or for the Funds
To enlist the support, including financial support, of past students, parents of students, friends of the College and the public, to raise funds by donation, or otherwise for payment to the Funds
Generally to support and assist the College.
Directors are not paid for their contribution as directors.
Foundation accounts and audit
The Board manages its accounts as required by the Act and the Charity Legislation and makes public every profit and loss account and balance sheet, accompanied by a copy of the independent auditor’s report.
The legislation requires the appointment of a qualified company auditor (or auditors) whose duties are regulated in accordance with the Act and the Charity Legislation.
The Foundation’s Deductible Gift Recipient status is monitored by the Australian Charities and Not-for-profits Commission (ACNC) which has stringent requirements around financial and professional practice and disclosure.
All donations to the Foundation – for buildings and bursaries – are tax deductible. A full receipt for tax purposes will be issued in July each year.
Giving to bursaries
The focus of ASHgrow is on the campus. Our aim is to better serve all our students – both present and future – by ensuring they have access to outstanding facilities, resources, and opportunities.
Bursaries continue to be a very important way to level the playing field so boys who might otherwise have been unable to attend Marist College Ashgrove can enjoy all the benefits this great school offers.
