AET Foundation
Your vision Your contribution Your legacy Create a meaningful, philanthropic legacy with the AET Foundation. Do you want your giving to make a lasting impact? While motivations for giving are many and varied, philanthropists around the world are united by a common desire to make a lasting and meaningful contribution to programs, projects or organisations that resonate with them. Philanthropy can bring great personal satisfaction and joy, and change the lives of those it reaches. Yet effective philanthropy can only be achieved through the right structures. Understandably, many donors prefer to focus solely on their giving and not be concerned with time-consuming compliance and administration which is why a growing number of today s philanthropists are choosing to achieve their charitable goals by partnering with us at Australian Executor Trustees Limited (AET). Why partner with us? We can help make your philanthropic vision a reality. For more than 130 years, our focus has been on helping individuals and families create personalised and everlasting giving programs with minimum fuss and maximum impact. We have the knowledge and expertise to seamlessly handle the ongoing compliance, administration and investment management associated with charitable giving. We can help bring your philanthropic vision to life in a way that enables you and your family to focus on the pleasure of giving, while creating a lasting, powerful legacy. 2
AET AET Superannuation Foundation Is the AET Foundation right for you? The AET Foundation is a public ancillary fund which is appropriate if you: want to establish a long-term charitable account to benefit eligible charities wish to access knowledge and expertise around how to achieve effective philanthropy have a minimum of $50,000 to commence your giving program want to focus solely on your giving and not be concerned with the ongoing burden of administration, compliance or investment management want the pleasure of seeing the impact of your philanthropy want to involve family members and future generations in your philanthropic vision. 3
Your account with the AET Foundation Establishing an account Establishing an account under the AET Foundation is an easy and straightforward process. Simply complete an AET Foundation application form and return it to us. Once the completed form and initial donation amount is received by our offices, your account will be established within 48 hours. Please note that the minimum initial donation amount to establish an account is $50,000. On the application form, you can elect the name of your account. However, please be advised that the law currently precludes account names from containing the terms sub-fund foundation, fund or trust. Making contributions Contributions to your AET Foundation account are irrevocable donations. There is no restriction on the value or frequency of additional contributions to an AET Foundation account and many donors elect to name their account as a beneficiary in their estate. In addition, with the approval of the trustee, you can actively solicit funds from the public. Please note that by law, your account cannot hold certain asset classes (for example collectibles such as artwork). Tax advantages All donations to your account are 100% tax-deductible. Tax-deductions can be apportioned over five years from the date of the initial donation. Making grants Each financial year, your AET Foundation account is required to distribute a minimum of four per cent of the market value of the account s net assets (as at 30 June the previous financial year). Distributions from accounts need to be made to eligible charities. Currently the Australian Taxation Office stipulates eligible charities must be endorsed as deductible gift recipient Item 1 entities. Most donors request us to make an annual distribution from their AET Foundation account, usually in line with the end of the financial year. However, you can elect to make a grant at any time, simply by notifying us in writing. 4
AET AET Superannuation Foundation We can also assist you to establish and implement a clear and structured granting strategy to help you achieve your philanthropic goals. We will arrange the payment of grants to eligible beneficiaries and if desired, can notify the organisation of the name of the account providing the grant. You can also elect for your donations to be made anonymously. The minimum grant that can be made from an AET Foundation account is $1,000. Investments The AET Foundation has a conservative investment strategy, which seeks to grow capital and income over the long term. The foundation s investment objective is to achieve a net annual return equal to the Consumer Price Index (CPI) plus four per cent. Each year we undertake a review of the investments held by the AET Foundation. Reporting and online access to your account You can view the balance of your AET Foundation account, as well as access other key documents relating to your account, at any time via our secure, online portal AET My Portfolio. AET My Portfolio can be accessed via our website www.aetmyportfolio.com.au Simply logon using your AET My Portfolio username and password that we sent you. Please contact us if you do not have these details. When you logon to AET My Portfolio, you can view key information including: your account balance a portfolio valuation tax-deductible receipts donation and granting statements. 5
Involve others in your giving AET Foundation accounts can support advisory committees and are ideal vehicles to engage others in giving. In so doing, you can share your passion for philanthropy with current and future generations of family, friends or associates. Many donors use their account as a vehicle to honour their legacy and engender a sense of social responsibility and tradition of giving in future generations. We take care of administration and compliance so you don t have to We take care of the administrative and compliance functions associated with philanthropic action, leaving you to focus purely on the pleasure of giving. AET PAF Pty Ltd (a subsidiary of AET) is the sole trustee of the AET Foundation. It is our responsibility to keep abreast of both the common law principles of trust law and the Trustee Act of the State or Territory in which the AET Foundation operates and to ensure your account remains compliant. The trustee is responsible for the ongoing administration of your account including the maintenance of all transaction records, meeting minutes (including funding and investment decisions), annual audit and the lodgment of regulatory reports. You and your advisers have access to relevant documents and reporting at all times via our online portal. Fees and costs There are no establishment fees. The annual trustee fee charged is 0.80% (plus GST) of the gross asset value of your account and covers: general administration and compliance grant administration investment advice and portfolio management. For accounts with larger balances, and those with unique circumstances, we will provide specific written quotes applicable to your circumstances. Management fees and costs will apply to the underlying managed funds in which the AET Foundation invests. 6
AET AET Superannuation Foundation Need more information? If you would like more information on the AET Foundation please contact your financial adviser. Alternatively, please contact your AET business development manager on 1800 684 672, email aetfoundation@aetlimited.com.au or visit our website www.aetlimited.com.au 7
Australian Executor Trustees Limited ABN 84 007 869 794 AFSL 240023 www.aetlimited.com.au Part of the IOOF group TRA-2096