The RSAYS Foundation was established in 2006. It is an entity to receive money and property given or bequeathed to the Squadron by members and others. Through the creation of a capital reserve the Foundation can invest in projects to promote and support the objectives and activities of the Squadron.

The funds raised by the Foundation are managed entirely separately from the Squadron’s operating funds account. A panel of Trustees ensure that the Foundation income is invested in projects supporting the activities of the Squadron.

Donations

Donations to the foundation can be made as either:

•     A tax deductible donation through the Australian Sports Foundation (ASF), to one of three registered projects; or

•     A non-tax deductible donation directly to the Squadron which avoids a small ASF handling fee.

The Australian Sports Foundation (ASF) was established in 1986 by the Australian Government to assist sporting organisations to raise funds through public and corporate donations. The ASF is listed in the Income Tax Assessment Act 1997 (Div 30, s 30-90) and this enables donations of $2.00 or more to be tax deductible.

Three projects have been registered with the ASF allowing donations to be tax deductible:

•     Equipment Fund eg. Purchase of equipment

•     Sport Development Fund eg Training and Development of skills

•     General Facilities Development Fund eg. Future capital projects

There are currently two programmes running to increase gifts to the Foundation – Annual Giving and the Squadron Society.

Annual Giving

Each year the Foundation asks all members to consider a gift to the ASF in support of Squadron projects.

Bequests

The Squadron Society has been formed as a way of saying “thank you” to those people who have indicated to us, via a simple form, that they have made a bequest in their will, to the Squadron. Each year an informal gathering is held to present new bequestors with a small badge and acknowledge what they intend to do for the Squadron.

Grant Applications

Squadron members, committees and staff may apply for grants for Squadron projects. Trustees normally meet quarterly to consider applications.