Bequest and leave a legacy.
Bequests make a great difference to our campaigns as they allow us to increase our effectiveness, spend less time on labour-intensive fund-raising, and allows for longer-term campaign planning.
A bequest in 2001 to FoE Australia allowed us to establish a small grants program that specifically aims to support FoE groups in rural areas and regional towns. You can, of course, request funds be spent on a specific campaign or project. Please refer to the campaigns section of the website for information about our campaigns. Friends of the Earth (FoE) Brisbane (a member of Friends of the Earth Australia) is a community-based organisation working towards an ecologically sustainable and socially equitable future. We work at all levels, from the local to the global, to bring about changes, which will lead to a sustainable and equitable future. As a grassroots activist network, we are able to make a little money go a long way. We are part of the FoE International federation, which has more than 1.3 million members and 5,500 local groups active in 77 countries. FoE Australia has been active for over 40 years. If you would like further information, please contact our office and request to speak to Derec Davies contacts can be found here. HOW TO LEAVE A BEQUEST TO FoE If you have decided to name FoE as a beneficiary in your will, please approach your solicitor if you have one, or your local community legal centre. We strongly recommend that you seek specific taxation and legal advice from qualified practitioners. They will be able to give details on the different types of bequests and what this may mean for you and your family. They will probably want to know that we have tax-deductibility gift recipient status, and all donations are exempt from Australian Income Tax. . PLEASE NOTE: Friends of the Earth Brisbane Co-op Ltd does not have tax-deductibility gift recipient status. For this we use Friends of the Earth Australia Inc. It is legal for you to draw up your own will, but it must be:
A percentage. Some people decide to share their estate between a number of people and/or charitable organisations. They find that stating a percentage for each one is a useful way to divide their estate. A specific bequest – money, property, etc. You may wish to state a specific sum of money (remembering that over time inflation will affect this) or asset such as property, parcel of shares, debentures, bonds or a life insurance policy. You will need to have the specific bequest in the estate for it to be given to FoE. In 1999, the laws regarding gifts of property changed to allow for greater tax benefits, including capital gains tax exemption. The residue. This is any amount left over once you have made provisions for family and friends, where you decide to leave the residue to organisations like FoE. Alternative Bequest You can make provision that, if any named beneficiary cannot accept your bequest, then FoE will benefit. WORDING Where a specific bequest is intended “I bequest to Friends of the Earth Australia (ABN 18 110 769 501) on behalf of Friends of the Earth Brisbane Co-op Ltd the sum of hellip;…. and/or the following property and/or the following items: …… free of all duties and taxes to be used for the general purposes of the Association and the receipt of the Secretary or other proper officer of the said Association shall be sufficient discharge to my Trustee.” Where a residual bequest is intended “I bequeath to Friends of the Earth the rest and residue of my Estate free of all duties and taxes to be used for the general purposes of the Cooperative/Association and the receipt of the Secretary or other proper officer of the said Cooperative/Association shall be sufficient discharge to my Trustee.” PLEASE LET US KNOW If you have included Friends of the Earth in your will, please let us know. This information is held in the strictest confidence, but is a great help to our campaign planning. Also feel free to call us to discuss your plans for your will, and if you would like to make special provisions for any of our campaigns or the building fund. Our office hours are Monday to Friday, 10am to 6pm. Or email us: [email protected] We look forward to hearing from you. |
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