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News

Two Mayors launch new Banyule Charitable Trust

January 31, 2008

This Trust will enable our city to provide a tangible return to the charities that directly work with those in need.

Lord Mayor John So has officially launched the new Banyule Charitable Trust alongside Banyule City Council Mayor Cr Wayne Phillips.

The Banyule Charitable Trust is an exciting new venture in partnership with the Lord Mayor's Charitable Fund.

Cr Phillips said, "This new Trust, to serve the people of Banyule, is off to a great start with Banyule City Council and the Lord Mayor's Charitable Fund each contributing $100,000", Cr Phillips said.

Mr Simon McMillan, Banyule's new Chief Executive Officer, said that the residents and businesses of Banyule will soon receive an opportunity to contribute tax-deductible donations to help the Trust to grow and provide even greater financial returns to the charities supporting the local community.   

Councillor Jenny Mulholland, who was instrumental in the creation of this trust account, said "I know that we can make a difference to people who are in various situations of disadvantage and this Trust will enable our city to provide a tangible return to the charities that directly work  with those in need.

"We encourage the people and businesses of Banyule to work with us to grow the Trust", she concluded.

The Trust works by encouraging businesses and individuals to make tax-deductible donations and bequests to the Trust.

Ninety-per-cent of income from the Trust will be distributed by a Community Grants Panel, in conjunction with the Lord Mayor's Charitable Fund, to not-for-profit organisations that have Deductible Gift Recipient (DGR) status. The other 10 per cent is capitalised to ensure that the Trust continues to grow in the future.

Residents and businesses are encouraged to make a tax-deductible contributions to the newly established Banyule Charitable Trust by contacting Frances Gianinotti, Co-ordinator Youth and Community Partnerships on 9457 9962.

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