Charitable Endowment Fund

Open a JBWere Charitable Endowment Fund today and create a legacy that lasts an eternity.

The JBWere Charitable Endowment Fund (CEF) is a public ancillary fund designed to make it easy for you to manage and fulfil your philanthropic giving. There are no establishment costs, your CEF management account can usually be set up within three working days, and the earnings are exempt from income tax.

The benefits of a charitable endowment fund

There are many reasons why people establish a management account in the CEF, not all of which are financial.

• Timing: You can donate to your management account at any time so you can separate the timing of cash flow, tax deductions and gifts into the community.
• Perpetuity: You can arrange for grants to be made in perpetuity to ensure your preferred charitable organisation(s) continue to benefit well into the future.*
• Family/Legacy: Setting up a CEF management account can help bind a family as it is an ideal vehicle for families to discuss what is important to them, to explore their values, and to instil financial awareness and responsibility into their children (who can also be given responsibility to identify which charities should benefit.)
• Recognition: You may be looking for a way to commemorate your life - to provide a footprint of your achievements. You may also wish to demonstrate your company values by establishing a charitable endowment fund in your company name.
• Tax deductibility: There are significant tax advantages available for donating funds to a CEF management account and deductions can be spread over a period of up to 5 years.**
• Non-contestable: Funds in a CEF management account are non-contestable, so you can be assured your philanthropic interests will not be compromised on your passing.

How does it work?

You simply open a personal CEF management account within the JBWere Charitable Endowment Fund with a minimum donation of $20,000. Your funds are then carefully managed by the Trustee, National Australia Trustees (NAT), and the principal is invested so it can grow. Earnings in your CEF management account are then distributed to your preferred charitable organisations.*

Furthermore, with a CEF management account within the JBWere Charitable Endowment Fund, you are free of administrative responsibilities – all the administration, investing, annual audit, and tax return are taken care of by NAT.

Important information

National Australia Trustees Limited ABN 80 007 350 405 (NAT) is the Trustee of the JBWere Charitable Endowment Fund. NAT is a wholly-owned subsidiary of National Australia Bank Limited ABN 12 004 044 937 (NAB). JBWere Pty Ltd ABN 68 137 978 360 (JBWere) is 80.1% owned by NAB. A donation to the JBWere Charitable Endowment Fund is not a deposit or liability of NAB or any of its related bodies corporate.

* The ultimate decision on which Charitable Organisations will receive grants from the CEF rests with the Trustee, as it is the Trustee's responsibility to ensure all funds donated to and disbursed from the CEF are dealt with in accordance with all relevant laws.

** Given the complexity of taxation legislation and the significant and ongoing changes introduced by governments, it is recommended you obtain advice from your own professional tax advisor before deciding whether to donate to the JBWere Charitable Endowment Fund.

© 2011 JBWere Pty Ltd ABN 68 137 978 360, AFSL 341162 (December 2010). All rights reserved. No part of this document may be reproduced without the permission of JBWere Pty Ltd.