DGR Status
For a number of years the Old Andreans Association has had as one of its primary aims to raise funds to endow a number of scholarships. The OAA has realised its first scholarship in the OAA Canon Newth Memorial Scholarship, which is currently supporting a boy in Year 8 and will assist him until he completed Year 12.
The ability to raise funds has been hampered by the fact that the OAA does not hold DGR status and therefore cannot give a tax deduction for donations. After seeking advice on this matter, the OAA came to the conclusion that it should establish a fund and seek registration as a charitable fund, thereby obtaining DGR status.
Last year the OAA announced it was establishing the Old Andreans Foundation (OAF) and had selected the members of the inaugural Board of Governors, whose chair will be Mr Kenneth Tribe AC, a distinguished Old Andrean. Its purpose will be to raise funds to allow the Association to endow scholarships. This month the Australian Taxation Office granted retrospective DGR for the Foundation back to 1 June 2006.
The OAA is very excited about this and looks forward to the Foundation being support by our members and the wider community. Over the coming months the Foundation board will devise a strategy both to seek donations and to invest them to maximise returns while ensuring security of the funds. If you would like to donate to the Old Andreans Foundation, please email oaa@sacs.nsw.edu.au and we will get in contact with you to assist where possible.
