Rules of the DGR Fund of The Australian Centre for Advanced Studies Inc.

16 February, 2011

  1. Definitions
    1. ACAS refers to "The Australian Centre for Advanced Studies Inc."
    2. Fund refers to "DGR Fund, Westpac Account (BSB:036084 Account No. 295743)
    3. Board refers to the Board of ACAS.
    4. Registered Training Organization has the meaning in Australian legislation on Vocational Education and Training.
    5. Deductible Gift Recipient has the meaning in Income Tax Assessment Act.
  3. Purpose
    1. The principle purpose of the Fund is to maintain and further the activities of ACAS as a Registered Training Organization according to its Constitution.
  5. Expenditures
    1. Expenditures from the Fund will be used exclusively for the purpose of the Fund.
    2. All expenditures must comply with the decisions of the Board.
    3. Heads of ACAS departments may apply to the Board for grants from the Fund, listing the specific purposes of the expenditure.
  7. Receipts
    1. The following amounts shall be credited to the Fund:
      1. All gifts of money or property made for the principal purpose of the Fund described above, including:
        1. testamentary gifts and gifts that are not tax deductible for the donor
        2. distributions from other charities or DGRs, if made for the principal purpose.
      2. The whole amount of deductible contributions made to a fundraising event staged to raise funds for the principal purpose.
      3. Money received because of these gifts and deductible contributions, including proceeds from the sale of gifted property, and investment returns from money or property that continues to be part of the Fund.
    2. Amounts that are not gifts or deductible contributions are not to be credited to the Fund. They include:
      1. receipts from sponsorships or commercial activities, and
      2. proceeds of raffles, charity auctions, dinners and the like where the proceeds are not deductible contributions.
    3. The Treasurer will identify and record the nature of each donation to ensure only and all the proper amounts are credited into the Fund. If any money or property is incorrectly received, the Treasurer will cause it to be removed from the gift fund as soon as practicable, with the accounts adjusted and noted accordingly.
    4. Donors of all gifts of $2.00 or more to the Fund shall be eligible for receipts suitable for income tax deductibility.
  8. Winding up
    1. ACAS will transfer any surplus assets of the gift fund to another gift deductible fund, authority or institution when the Fund is wound up, or ACAS is wound up, or the DGR endorsement is revoked, whichever occurs first.