Prescribed Private Funds
Prescribed private funds (PPFS) are a new format for giving in Australia providing an effective way of giving to arts and cultural bodies.
Since its formation in 2003 Artsupport has supported the wider understanding of a new foundation structure; prescribed private funds (PPFs).
PPFs arose out of a series of tax reforms designed to stimulate philanthropic activity in Australia in 2001.
They can be used to perpetuate the name of an individual or family and because families can jointly operate a PPF they can be a valuable tool to instill philanthropic values in children.
Artsupport Australia has supported the expansion of PPFs in Australia by co-hosting information seminars for potential philanthropists, financial planners and advisers. Held in Sydney, Brisbane, Melbourne, Perth, Adelaide and Canberra, these increased awareness of PPFs and their benefits to the community and individual tax burden
There are now more than 760 PPFs in Australia with a combined wealth of $1.2 billion.
The majority of PPFs are private family foundations, and 2007 data show welfare and rights has received the most grants from PPFs, of $96.47m since 2002. This was followed by cultural organisations receiving $52.8m since 2002.
PPFs offer many tax advantages and are considered more beneficial than bequests. To establish a PPF, $300,000 is a suggested minimum investment and expert legal and tax costs are between $2,000-$5,000.
For more information on PPFs please visit
or contact Artsupport Australia
PPF case studies
Features
- Australia Council submission to the Inquiry into disclosure regimes for charities and not-for-profits
- Fundraising to women: Artsupport Australia 2008 masterclass and lecture series
- WA philanthropy incentive program
- International best practice in arts philanthropy
- The Westpac Foundation - moving Beyond Empathy