Can a public fund be a gift fund?

Organisations that are endorsed or seeking to be endorsed as a DGR for the operation of a fund, authority or institution must maintain a gift fund. An exception is where the organisation as a whole is already endorsed as a DGR.

A public fund may itself satisfy the gift fund requirement if it only receives gifts or deductible contributions and has appropriate winding up rules. If it receives other money or property, it will need to maintain a gift fund.

Things to remember:

  • If your organisation is endorsed for the operation of several public funds, then money or property belonging to one public fund must not be used to support the purposes of another fund.
  • A single gift fund can be maintained for two or more of your public funds.
  • Records must be kept evidencing the receipt and use of money and property belonging to each public fund.
    Last modified: 12 Oct 2016QC 26411