LEAVE A GIFT IN YOUR WILL
After looking after the needs of your loved ones, leaving a charitable gift (bequest), whether large or small, ensures that the legacy you leave behind is compassionate, meaningful and aligned with the values you carried through life.
This gift creates a ripple effect, powering change for generations to come, by enabling us to support First Nations young people and their families recognise the power of education and achieve their goals and dreams.
Powering change for generations to come
One of our biggest success stories is the long-term partnerships with the communities we work with. We are invested for the long haul, that is the only way we can create long term positive change. Leaving a bequest comes from a deep desire to safeguard this investment allowing us to continue to empower Indigenous Australians through culturally supportive education.
When you leave a gift with the Community Spirit Foundation, we ensure that it’s efficiently spent where it is needed most — and will make the greatest impact. However, if there is a cause or program of ours that you particularly want to support, you can contact us on 03 9686 4813 or email admin@communityspiritfoundation.org.au to discuss your preferences.
Writing your will
Your Will can reflect what has been important to you in your lifetime. Discuss your wishes with your family to ensure they understand that your bequest is meaningful to you.
It is important to review your Will regularly to make sure it is still valid so that your wishes can be fulfilled.
Let us know
Please email admin@communityspiritfoundation.org.au or call 03 9686 4813 to let us know if you have left a gift in your Will, or if you would like more information.
By confirming your intentions, you allow us to plan for the long-term with a greater degree of certainty, ensuring that we can continue to empower Aboriginal & Torres Strait Islander people for generations to come.
The information you provide will be treated in complete confidence.
If your lawyer needs our details for inclusion in your Will or you are a lawyer looking to include a gift in your client’s Will, our details are:
Correct name and ABN to use for a Will:
Community Spirit Foundation
ABN 59 623 241 565
Address:
1 Albert St, Richmond VIC 3121
PO Box 4335, Richmond East, VIC 3121
How to leave a gift
You can specify any amount or percentage of your estate that you feel comfortable gifting to the Community Spirit Foundation as a bequest, after having provided for your family and loved ones. A bequest doesn’t impact your wealth during your lifetime and only takes effect when administering your estate. Every gift, large or small, will make a difference to the impact of our work.
We have outlined below some of the ways you can leave a gift, however we recommend that you seek independent professional legal advice when finalising the wording in your Will. We also suggest talking through your intentions with your family and loved ones.
To speak with us, please contact 03 9686 4813 or email admin@communityspiritfoundation.org.au
Here are some ways you can leave a bequest
Residual gift
A residual gift allows you to provide for your family and friends first before leaving the remainder of your estate to the Community Spirit Foundation. A residual gift is one of the most common ways to leave a charitable gift in your Will. The value of a residual gift is determined after loved ones have been provided for and all expenses and claims have been paid. As your estate increases in value, so does your gift to the Community Spirit Foundation. Inflation should not then diminish the value of a residual gift.
Leaving your whole estate as a charitable gift is also often chosen by those who don’t have immediate family to take care of, or who are particularly dedicated to a cause. After thinking deeply about whether there are friends or family members who could benefit from your Will, choosing the Community Spirit Foundation as the sole benefactor is a generous gift that allows us to achieve very significant things in the lives of Aboriginal & Torres Strait Islander children.
Suggested wording for leaving a residual bequest:
“I give the whole of the residue of my estate to the Community Spirit Foundation (ABN 59 623 241 565) of 1 Albert Street, Richmond VIC 3121 for its general purposes. An authorised receipt from the Community Spirit Foundation will be a sufficient discharge for my executor(s) without seeing to the final distribution of the funds.”
You can divide your estate amongst a number of people and/or organisations. Your gift to the Community Spirit Foundation can be a percentage or proportion of the whole of your estate, or of what is left over (the residue) after individual gifts have been made.
Leaving a percentage of your estate (also known as a fractional amount) as a gift allows you to specify any amount between 1% to 100% that you would like the Community Spirit Foundation to receive. By choosing to give a percentage of your estate, your gift should retain its value over time.
Suggested wording for percentage of residuary estate:
“I give (X% of my residuary estate) to the Community Spirit Foundation (ABN 59 623 241 565) of 1 Albert Street, Richmond VIC 3121 for its general purposes. An authorised receipt from the Community Spirit Foundation will be a sufficient discharge for my executor(s) without seeing to the final distribution of the funds.”
Suggested wording for percentage of your whole estate (before other gifts and liabilities are paid)
“I give (X% of the whole of my estate) to the Community Spirit Foundation (ABN 59 623 241 565) of 1 Albert Street, Richmond VIC 3121 for its general purposes. An authorised receipt from the Community Spirit Foundation will be a sufficient discharge for my executor(s) without seeing to the final distribution of the funds.”
The type of gifts you can leave in your Will depends on your circumstances and the legacy you’d like to leave behind. Whatever type you choose, be assured that it’s a wonderful way to give to charity and will make a significant difference to the world.
If you’re unsure what to choose, we recommend discussing it with your family or a legal professional or with our bequests team. If you’d like to discuss your gift or would like further information please call us on 03 9686 4813 or email admin@communityspiritfoundation.org.au
Information for solicitors
If your lawyer needs our details for inclusion in your Will or you are a lawyer looking to include a gift in your client’s Will, our details are:
Correct name and ABN to use for a Will:
Community Spirit Foundation
ABN 59 623 241 565
Address:
1 Albert St, Richmond VIC 3121
PO Box 4335, Richmond East, VIC 3121
DGR status:
Community Spirit Foundation endorsed as a Deductible Gift Recipient (DGR). It is covered by Item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997 .
Charity Tax concession status:
Community Spirit Foundation is a Public Benevolent Institution endorsed to access the following tax concessions:
GST Concession
Income tax exemption
FBT Exemption
Community Spirit Foundation’s ABN Lookup page can be accessed here.
Suggested wording for a Will:
“I give*____________________________________ to the Community Spirit Foundation (ABN 59 623 241 565) of 1 Albert St, Richmond VIC 3121 for its general purposes. An authorised receipt from the Community Spirit Foundation will be a sufficient discharge for the executor(s) or trustee without seeing to the final distribution of the funds.”
*Insert one of the following:
· the whole (or …%) of the residue of my estate
· the whole (or …%) of my estate
· the sum of $ (amount)
· (Details of a particular asset, such as shares or property.)
Contact us for more information:
Phone: 03 9686 4813
Email: admin@communityspiritfoundation.org.au