What is a public fund?
Public funds for DGR purposes fall under two types:
- funds established and controlled by government or government authorities
- funds to which the public is invited to contribute and in fact does contribute.
A public fund may be established as a separate entity, for example under an instrument of trust, or as part of a sponsoring organisation.
There are special requirements applying to some public funds.
Which DGRs must be public funds?
Various DGR categories require organisations to establish a public fund to receive tax deductible gifts and contributions to be applied for the purposes described in the DGR category.
- school building funds
- overseas aid funds
- necessitous circumstances funds
- scholarship funds
- war memorial repair funds
- fire and emergency services funds.