Private Ancillary Funds
Advice on Structure
A number of options exist when establishing a charitable trust whether it be a Private Ancillary Fund (PAF) or another model. While your tax lawyer and accountant can advise you on the best legal and tax structure Lander Consulting will help you determine which model best suits your overall needs and objectives.
Setting of objectives
The most important issue when establishing a Private Ancillary Fund is to determine its objectives because from these flow the investment regime, policies, procedures and practices. These may be very broad and loosely defined or be extremely specific. We will guide the donor/trustee through this process.
Management practices (governance, policies, procedures)
A Private Ancillary Fund operates under a variety of Commonwealth and State Acts as well as its own specific trust deed. Establishment of an appropriate governance regime and policies and practices which ensure the smooth operation of the trust will ensure consistency of approach, compliance with legal requirements, efficient grant making and effective monitoring of projects.
Grant making - evaluation and selection of projects
At the core of the Private Ancillary Fund’s activities is the grant making process and the distribution of funds. Our unique experience in this area, wide knowledge of the not for profit sector and objectivity will enable the trust to maximise the benefit derived from its charitable endeavours. In particular, clear and transparent policies and procedures will facilitate the gathering of submissions, their analysis, evaluation and setting of conditions.
Monitoring of Projects
The monitoring and evaluation of projects is an important activity for both the PAF and the beneficiary. It ensures that money is spent according to the wishes of the trust and enables lessons to be learnt by both the trust and beneficiary.
Oversight of investment strategy
The PAF’s investment adviser will recommend an investment strategy to meet its objectives. Lander Consulting will ensure that the trust has a process in place to evaluate the strategy and meet its legal obligations.
Responsible Person
Private Ancillary Funds and Public Funds are required to have an independent trustee known as the ‘Responsible Person’. Ken Lander, Director, is qualified to fulfill the role.