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JBWere Charitable Endowment Fund

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Name: JBWere Charitable Endowment Fund (CEF)
Type: Ancillary Fund
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CEO:
Website: Goldman Sachs JBWere Charitable Endowment Fund
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JBWere Charitable Endowment Fund

The JBWere Charitable Endowment Fund (CEF) is an innovative fund designed to help you manage your philanthropic giving.

What is the CEF?

The CEF is a public charitable foundation. Donations into your CEF account are invested by JBWere and each year a portion of the investment return is used to make charitable grants. The remainder is reinvested to ensure the fund continues to grow for future grant making. The CEF allows a philanthropic mission to be pursued in perpetuity and if a donor wishes to wind up their account at any point in time, the full proceeds can be distributed as grants. The CEF is endorsed by the Australian Tax Office (ATO) as a Deductible Gift Recipient (DGR) and a Tax Concession Charity (TCC) consequently all donations into your CEF account are tax deductible* and the CEF is exempt from income tax. The CEF allows benefactors to provide an enduring gift to charity while reducing the administrative burden of establishing and managing an individual foundation.

Benefits of the CEF

Easy to establish Setting up your CEF account can be quick and simple and no further ATO or regulatory approval is required.

Naming rights You can name your CEF account (within guidelines) and at your discretion grants from your CEF account can use this name or be anonymous.

Tax advantages* You are entitled to claim a tax deduction for your initial and additional donations into your CEF account.

Easy to manage Investment management, administration and reporting are taken care of on your behalf.

Flexible grant making In addition to annual grant making from the return generated by investments, you can recommend grants† from the capital balance in your CEF account at any time of the year.

Giving in perpetuity Your CEF account can endure indefinitely and so it allows you to create a legacy of giving for decades to come.

Fees

CEF accounts will be charged the following fees and expenses (after the refund of all applicable GST credits):

  • an annual management fee, estimated to be 1.40% p.a.
  • an amount of up to 0.50% of each donation to the CEF, payable to JBWere for recovery of incentives paid by it to your financial adviser or other financial services provider.

In addition, the managers of the funds in which the CEF will be invested are expected to charge management costs of approximately 0.92% p.a. (after GST refunds available) of the value of the relevant investments.

Further information

To find out more about the CEF and whether it will help you achieve your philanthropic goals you should read the Information Memorandum for more information. The JBWere Philanthropic Services team can help tailor a solution for you and discuss what options are available. Please call your adviser or JBWere Philanthropic Services on (03) 9679 1183 or email cef@gsjbw.com. Alternatively, visit www.gsjbw.com/cef.

Information Memorandum

Please read the JBWere Charitable Endowment Fund Information Memorandum in full before making a decision to establish a CEF account. To get an application form please contact the Philanthropic Services team.


Important notice

Due to regulatory restrictions, currently the CEF is not offered in some states. Please contact the JBWere's Philanthropic Services team for more details.

ANZ Trustees Limited ABN 33 006 132 332 is the Trustee of the JBWere Charitable Endowment Fund.

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