A FOUNDATION CAN ONLY BE USED
TO HELP PEOPLE
PURPOSES SUCH AS: EDUCATIONAL, RELIGIOUS, SPIRITUAL & CHARITABLE
Foundations are set up to invoke love, peace and charity ‘love thy neighbour as yourself’.
Another KEY, it is NOT FOR PROFIT
That means that for a ‘not-for-profit‘ service or organisation, any profit made is used to further the aims of the organisation. That means all the profits are put back into the organisation to continue to pay for its activities and functions and to achieve its mission to serve the people.
Your intentions to help people and be in service to people must be your motivation to set up a foundation.
Anything other than that and the KEY will not open the door. Simple!
The unique nature and diversity of charities and the distinctive and important role that they play for the people is why a foundation is a legal and lawful option. The meaning of charity has largely been that of the common law.
- Charity means an entity that is a not‑for‑profit entity; and all of the purposes of which are charitable purposes that are for the public benefit ; or purposes that are incidental or ancillary to.
- Charitable means an entity that is charitable if the entity is a charity.
- A charitable purpose means the purpose of advancing health; advancing education; social or public welfare; religion; culture; promoting reconciliation, mutual respect and tolerance between groups of individuals; promoting or protecting human rights; advancing the security or safety of Australia or the Australian public; preventing or relieving the suffering of animals; advancing the natural environment.
- Purpose of advancing health includes the purpose of preventing and relieving sickness, disease or human suffering.
- Purpose of advancing social or public welfare includes the purpose of relieving the poverty, distress or disadvantage of individuals or families; includes the purpose of caring for and supporting: (a) the aged; or (b) individuals with disabilities; includes the purpose of caring for, supporting and protecting children and young individuals (and, in particular, providing child care services); includes the purpose of assisting the rebuilding, repairing or securing of assets after a disaster if the disaster developed rapidly and: (i) resulted in the death, serious injury or other physical suffering of a large number of individuals; or (ii) caused distress to a large number of individuals and resulted in widespread damage to property or the natural environment; and the rebuilding, repairing or securing is in furtherance or in aid of the purposes of one or more exempt entities and the purpose of assisting is directed to providing benefits that are commercial or private only to an incidental and ancillary extent, if at all; and the assets are assets of entities that: (i) are not government entities; or (ii) would be charities were they not government entities.
- Purpose of advancing culture includes the purpose of promoting or fostering culture; includes the purpose of caring for, preserving and protecting heritage.
- Purpose of advancing the security or safety of the people includes the purpose of promoting the efficiency of the Defence Force.
- Purposes for the public benefit if the achievement of the purpose would be of public benefit; and the purpose is directed to a benefit that is available to the members of the general public; or a sufficient section of the general public. Benefits (whether tangible or intangible) (other than benefits that are not identifiable); and any possible, identifiable detriment from the achievement of the purpose to the members of the general public; or a section of the general public.
- Entities that are not charities; owners, members, trustees, employees, officers, agents, directors, donors, associates, companies, corporations
- Certain purposes presumed to be for the public benefit: (a) the purpose of preventing and relieving sickness, disease or human suffering; (b) the purpose of advancing education; (c) the purpose of relieving the poverty, distress or disadvantage of individuals or families; (d) the purpose of caring for and supporting: (i) the aged; or (ii) individuals with disabilities; (e) the purpose of advancing religion.