One of the benefits of giving through a community foundation is that it is a vehicle for charitable giving, not only for high net worth individuals, but for donors who want to be philanthropic but do not have large amounts of discretionary income to donate.

Melbourne Community Foundation now offers anyone the opportunity to establish a charitable endowment fund by making regular contributions to a Gumnut Account and overtime build this into a named sub-fund.

You can support good causes and build up a lasting fund for you, your family or your company by setting up your own Gumnut Account.

To set up a Gumnut Account simply make a commitment to contribute a minimum tax deductible donation of $2,000 per year. This can be made annually or on a regular basis throughout the year.

If regular contributions cannot be made a break from donations can be agreed to until you can commence. In some instances where you cannot make any more donations then the Gumnut Account balance will be transferred into MCF’s General Fund.

The income from your Gumnut Account will be reinvested to grow the value of your account until it reaches $10,000. At this level, you can keep request that MCF reinvest the income until the account matures at $20,000 or the income can be directed to support MCF grantmaking initiatives.

When a gumnut account matures $20,000 it can be transferred into an MCF named sub-fund or donors can choose to keep making grants to MCF’s initiatives and projects directed at assisting to address issues of disadvantage in Melbourne.

• View and download a brochure about starting a Gumnut Account

Who should start a Gumnut Account?

Anyone really but Gumnut Accounts is a perfect philanthropic option for

• Young professionals that have the desire to have a philanthropic fund but do not have the funds available to start a sub-fund
• Families whose income is heavily committed to mortgages, school fees and all the other costs with raising families
• Families that want to start to teach children about giving back to the community
• A low entry level to establish a memorial endowment.