Individuals will be given the opportunity to become members of the Fund by giving $500 and a $30 administration donation annually to the fund, with the aim of raising $50,000 in the first year.
Please note: if you are supporting the fund via monthly payments, you will need to be a full member by March 7th 2024 to be able to have voting rights at the annual event. This may require you to pay a lump sum to pay the remainder of your membership before the above date. We will contact you early in 2024 to make these arrangements.
All contributions to the Ballarat Women's Fund are fully tax deductible.
Half of funds raised annually through memberships will be directed into an annual grant distribution. The recipients of the grant will be determined at an event in March 2024 where members will hear presentations from three final applicants and vote for their preferred project. The winner will receive a minimum of $20,000 and the two finalists $2500 each and support with project development within the supporter network.
The remaining 50% of funds will be held in perpetuity and invested in line with existing Ballarat Foundation policy. The capital funds over 10 years will amount to $250,000. From the second year, income from the capital fund will be delivered back into the annual Women’s Fund program, adding value to the immediate response while maintaining fund capital.
Essentially, over time, the grants determined by the supporters of the fund will grow and deliver greater impact and sustainability. The fund will also be open to one-off donations to be split on a 50/50 basis to current year and perpetual uses.
A $30 donation will be applied to members to support Fund administration. This donation will ensure organisations which apply to the Ballarat Women's Fund receive training and support to make a powerful and effective "pitch" at the 2024 members' event.
It also ensures all reporting and governance required by the Australian Charities and Not For Profit Commission are met by the Ballarat Foundation as administrator of the fund and perpetual funds invested using the expertise of JB Were Philanthropic Services.