University of Tasmania Foundation Brochure

‌Endowing the future The University of Tasmania Foundation

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www.utas.edu.au/foundation

…Endowing the future

The University of Tasmania Foundation

ABOUT US University of Tasmania Foundation

Building a Foundation to endow the future

The University of Tasmania is an international university, working out of Tasmania. The UTAS Foundation is the vital fundraising

Although a relatively young organisation, the Foundation

arm of the University. Its activities help to ensure UTAS remains

currently manages over $25 million, the income from

a vibrant institution – a leader in education that produces quality

which funds a growing range of programs reflecting

graduates and research connected to the businesses and

current priorities.

industries of Tasmania, in turn taking Tasmania to the world.

Through these programs on behalf of the UTAS community, the University Foundation lives its motto, endowing the future.

The University of Tasmania is committed to excellence in the creation, preservation, communication and application of knowledge and to scholarship that is international in scope, reflecting the distinctiveness

This brochure presents the range of opportunities available to you for supporting the University Foundation in its work on behalf of UTAS and its students – now and for generations to come.

of Tasmania and serving the needs of its community.

The University will continue to provide leadership within its community, contributing to the cultural, economic and social development of Tasmania.

Gifts to the Foundation promote excellence, innovation and

The Foundation’s current priorities are:

participation at UTAS. Support from our alumni and friends is

• scholarships and bursaries

critically important to ensure that the University continues to

• research and research facilities

fulfil its mission as Tasmania’s university and is able to make

• visiting specialist lecturers

a significant contribution to the cultural, economic and social

• increasing the awareness of the value of bequests

development of the state.

• buildings and campus development

The Foundation was established by the University in 1994

• growing the cultural capital of UTAS

The Tasmania Scholarships and Bursaries Program

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Endowing a Scholarship or Bursary

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Sponsoring a Scholarship

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Sponsoring a Bursary

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Making a Bequest Bequest Wording

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under the Associations Incorporation Act 1964 to assist it to

The University of Tasmania Foundation enjoys Australian

UTAS Appeals

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gather together a group of friends who would give their time

Taxation Office endorsement as an income tax exempt

and means to support UTAS in its work.

charity and a deductible gift recipient, allowing many donors

Other Ways of Supporting UTAS

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The University of Tasmania Foundation operates under a

the advantages of tax deductions on their gifts.

formal deed of trust with a board of governors. It is managed

University Foundation funds are invested and managed

by directors – prominent community and business leaders

prudently by the University through its dedicated, managed

who volunteer their time and expertise. The administrative

investments fund, to maximise the returns available while

activities of the Foundation are undertaken by staff in the

ensuring longevity for the funds it holds in trust. Donors are

UTAS Development and Alumni Relations Office.

assured that gifts to the Foundation will be applied to the

Recognising Your Support

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Joining the Foundation

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Contacting the Foundation

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purpose for which they were intended and, if agreed, the gift will endure.

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…Endowing the future

The University of Tasmania Foundation

the Tasmania Scholarships and bursaries program Sponsoring a scholarship

It is important that talent is recognised and allowed to blossom and flourish. Scholarships and bursaries help

Establishing a sponsored scholarship in your name

this to happen. The University Foundation continually

or that of your company is a rewarding way of supporting

seeks donations to increase the range of support it is able

The student experience of university around Australia has

to provide students through the Tasmania Scholarships

changed quite a deal in the past 25 years. University is

and Bursaries Program, which was established in 1994.

more expensive than ever and students spend increasingly

Sponsoring a scholarship is easy to arrange and is usually

longer hours in the workplace. It has been estimated that,

done on a year-by-year basis with donations being fully

lessen the average student’s reliance on work for survival,

apart from study, students work three times the hours of

utilised in the year in which they are given.

increase study application time, enhance self-esteem by

their counterparts in 1984 and seven out of ten students

Academic merit is the primary criterion for a scholarship

providing recognition of an individual’s capacity to achieve

work an average of 14.4 hours per week. Needless to say

but sponsors can negotiate a range of selection criteria

and obviously through that have significant benefit for

this is at the expense of campus life and experience, a vital

and be involved in the process as much as they wish.

academic performance.

component of the total university education.

The availability of scholarships and bursaries can help

As well, competition between universities for the best

or that of a special person

universities are able to attract our best students with

• support students in a course that is related

generous scholarships. Tasmania certainly cannot afford the drain of its brightest talent – often not to return.

Essentially your gift establishes an endowed fund that will

UTAS now provides a range of perpetual scholarships

support a perpetual scholarship or bursary. The Foundation

only meeting a tiny proportion of the need, making the

You can choose to have a sponsored scholarship: • carry your name, the name of your company

and brightest is intense these days. Other well-resourced

and bursaries for students at all levels of study. But it’s

UTAS students to study.

will work with you to write a set of rules that set out how your scholarship is to be awarded and these will be approved by

to your interests or business needs • be awarded at undergraduate, honours or postgraduate level • be paid for annually or in advance for a set period

scholarship to the student body and arrange for contact between the student and you once selection has been

the Academic Senate of the University.

Our scholarships program is designed to be flexible and

completed. As a sponsor you can have considerable input

Many excellent students in the humanities, the sciences,

Naming rights apply to a scholarship or bursary, so the memory

responsive to the wishes of our sponsors while also meeting

into the selection of your student.

business and health sciences work through their courses

of a loved one can be retained through the award and your

the real needs of our students and the University.

unsupported – or accept support offered from elsewhere.

scholarship can be targeted at students in specific courses or

Foundation’s efforts to grow the endowment critical.

more generally if that’s what you prefer. A Foundation officer

Endowing a scholarship or bursary Endowing a scholarship or bursary ensures that your

will be happy to assist you in planning your scholarship and ensuring it will work over the long term.

generosity will endure. UTAS has scholarships, bursaries

It’s often said that nothing lasts for ever, but endowing a

and prizes, which date back to the very early days of the

perpetual scholarship or bursary is probably as close as you

University (over 100 years), still supporting students today.

can come to achieving it.

Many Tasmanian companies have now become involved in

A Foundation officer will work with you to discuss the

sponsoring scholarships and the annual Foundation Awards

range of scholarship options, determine the selection

Dinner in March each year has become a celebration of

arrangements and the timeline for implementing your

the valuable links forged between the corporate and

scholarship. The Scholarships Office will promote the

education sectors.

The University Foundation will manage your gift for a scholarship or bursary in such a way that it will endure, if this is your wish. Donations for each scholarship are held in individually named trust funds used solely for the purpose of the scholarship or bursary. Your initial donation forms the capital base of the fund and return on the investment of the capital pays for the scholarship or bursary each year. A portion of the annual income is also added to the capital fund to ensure that the real value is maintained and that the scholarship or bursary payment can be indexed over time.

Further contributions can be added to your endowment at any time.

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…Endowing the future

Sponsoring a bursary

The University of Tasmania Foundation

MAKING A BEQUEST

The University of Tasmania Foundation’s goal is that, as far

A bequest or a gift provided in your will, no matter how

as possible, no student should be denied the opportunity

large or small, helps make a difference long into the future.

of tertiary study at UTAS because of limited financial means.

Supporting UTAS in all its endeavours is an effective and

Its bursary program is designed to help with this. Bursaries

enduring way of growing the quality of, and access to,

target deserving students with talent.

tertiary study for Tasmanians.

Generally bursaries are awarded to undergraduate students,

UTAS manages bequests that date back to the early period of

but with an increasing range of postgraduate courses, student

the University. The Richard Dry Exhibitions and the Sir Philip

need is now considered across all levels. Like scholarships,

Fysh Scholarships and Prizes are two examples that are still

the selection process for bursaries can involve sponsors as

supporting students today, just as they did a century ago.

much as they wish, but as the University collects confidential information on those students applying for this type of support, a list of students eligible to be considered for a bursary will be prepared by the University’s Scholarships Office.

You can choose to have a bursary:

Thus in this way the action of these early benefactors has secured them some level of immortality. As students annually collect the income generated from the trust funds, individuals who made such prudent decisions.

or that of a special person to your interests • be awarded at undergraduate, honours or postgraduate level • be paid for annually or in advance for a set period • be endowed in perpetuity

Funds from bequests are targeted only to those areas specified in the will of the donor. The funds are invested by the University on ‘trust’ and the University protects

able to make a difference through the program.

Whatever you decide to support through your estate, your generosity can make students’ lives easier and Tasmania a better society in which to live.

We would encourage you to discuss your plans with your family if you decide to support UTAS through a bequest.

Provide for them first if that’s your wish and then find something for UTAS from the remainder of your estate.

Your bequest can be:

• a percentage of your estate or the residue

Bequest wording

of your estate once other needs are met • a property, land, shares, artwork or anything at the desire of the donor

the income earned, equal to the CPI, is added to the capital.

The following words might assist you and your lawyer to include a bequest in your will. We have used here the example of a scholarship. It could easily be adapted for other purposes, like a research grant or another priority area.

I GIVE DEVISE BEQUEATH AND APPOINT the sum of $XXX (written amount) (or x% of my estate or the remainder of my estate)

The University of Tasmania Foundation will receive your

to the UNIVERSITY OF TASMANIA FOUNDATION for the purpose

Therefore as the capital of a trust fund increases over time,

bequest when the time arrives and ensure it is put to the

of establishing a trust fund to be administered at the sole discretion

the capacity to maintain the value of any payment is retained.

purpose you intended.

of the University Council to provide a scholarship for (description)

By providing a scholarship year after year your legacy endures.

Who knows how many students will have been helped into their life’s activities through your foresight?

Again, a Foundation officer will be happy to assist

You or your legal adviser can contact the University Foundation in confidence about your intentions to allow us to receive the gift from your estate without legal

students studying at the University of Tasmania to be known as THE XXX SCHOLARSHIP. The income of the fund is to be used in assisting students with their studies at the University of Tasmania.

I DECLARE that the receipt of the Principal Accounting Officer

roadblocks arising.

of the University is to be sufficient discharge to my executors.

The Foundation provides advice only as a general guide.

If your bequest recommends a specific purpose, it is useful to

A bequest can also be dedicated for any purpose which

It is recommended that donors seek independent legal

include a simple clause that allows the University to use the

assists UTAS. You can use your bequest to develop areas

or financial advice.

bequest for another purpose if at some stage in the future the

of study in the arts or science, education, medicine or law.

However, our specialist staff can assist you with your

You can endow a named chair in a discipline of importance

individual plan to endow the future for UTAS.

you in establishing a bursary.

to you. You could invest in new facilities and gain naming rights for these. Or your bequest can be unrestricted, with the use of the gift entirely at the discretion of the University for areas of priority and greatest need.

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make best use of it.

money can be distributed from a trust fund, a percentage of

purpose of the trust fund.

organisations, businesses and generous individuals, are

that it is directed into an area where the University can

of value which the University can hold or sell

has been in place now for 12 years specially targeting

Donors, including state and local governments, community

help you plan your bequest to your advantage and ensure

the capital value of the original donation. Each year before

The remaining income is then available to be spent on the

families could ill-afford the costs of study at UTAS.

An early conversation with the University Foundation can

• a gift of money

A special program, the West North-West Bursary Program, students from the north-west region of Tasmania whose

we’d be happy to discuss these with you confidentially.

many will reflect favourably on the caring and concerned

• carry your name, the name of your company • support students in a course that is related

The list of ways to support the University is extensive and

original intention should become impossible. For example: Should it be at any time impossible or impracticable for the University to use the funds as directed by me, I declare that the University Council in its absolute discretion may apply the fund, including capital and any accumulated funds, for whatever purpose the Council determines most closely aligns with my original intentions in making this bequest.

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…Endowing the future

The University of Tasmania Foundation

UTAS Appeals Not everyone is able to make a substantial gift to the University Foundation, but most people can afford a gift through our Appeals Program. Large or small, your gift is welcomed and combines to improve the life of our students and the quality of higher education for Tasmanians. Each year the University of Tasmania Foundation writes to alumni of the University and invites their support for a number of specified appeal programs.

The Annual Appeal Giving through our Annual Appeal is an affordable way you can make a difference to students’ lives. Foremost in this is support for the Annual Appeal Scholarship, a generous fouryear award for a student, which is made available each year.

Other projects assisted through the Annual Appeal are the Foundation’s Development Fund – designed to allow the Foundation to expand its scope of operations – and campus improvement programs, which are undesignated gifts that allow the Foundation broad scope in allocating them to those areas of greatest need.

The Annual Appeal is proving to be an effective means of establishing a tradition of support for the University.

All donations are tax deductible and receipts are provided by return mail.

Names of donors to the Annual Appeal are acknowledged in Alumni News unless anonymity is requested.

Other appeals Currently the Foundation has a number of appeals in place which are designed to assist specific areas of need.

These include: • the Save the Tasmanian Devil Appeal, which seeks to find a cure for the crippling facial tumour disease • the Optical Astronomy Observatory For a full list of our appeals visit: www.utas.edu.au/foundation/appeals.htm

Making a donation Donations can be made any time of the year through the UTAS website: www.utas.edu.au/foundation/appeals.htm so you don’t need to wait until the Foundation writes to you.

This is a secure site that allows you to use your credit card, or you can download a donation form to mail to us.

Alternatively you can make a donation by: • phone on 03 6226 1920 • mail to UTAS Foundation Annual Appeal

Private Bag 40

Hobart TAS 7001

• in person at the Development and Alumni Relations Office in both Hobart and Launceston Arrangements can also be made to have a pledged amount deducted from your credit card annually before the end of the tax year.

Other ways of supporting UTAS While most gifts come in the form of money, the University Foundation graciously welcomes gifts in various forms.

These may include annuities, life assurance policies, property or real estate, artworks, shares, research or teaching support or other assets of enduring value.

Non-cash gifts will be assessed in the light of the

Workplace giving

University’s capacity to use the gift in the manner envisaged

Many organisations today have a workplace giving program

by the donor both presently and into the future. Where the

in place – a tax-effective way for you to support the vital

University feels acceptance of a gift would not serve either

work of a charity, in this case the Foundation. Employees

its interests or that of the donor’s, it reserves the right to

can deduct as little as $5 a week from their pre-tax pay and

decline the offer.

it is transferred directly to the University Foundation by

There may be personal or company taxation advantages in making a gift to the University Foundation. The Foundation encourages you to seek advice that is independent from the University on this aspect of your gift. Staff in the

your employer. The benefits are many and your donation can be made pre-tax. There is no need to keep records as you receive a single receipt at the end of the financial year and it is a simple way to be a regular donor.

University Foundation will be happy to work with your

To establish the University Foundation as a recipient through

adviser in arranging such gifts.

your workplace giving program you and your employer will need to fill out a simple form. Please contact us and we’ll

Making a pledge Pledges help you to make a donation to the University Foundation over a period of time. Some donors may wish

Regular giving

to make a payment each financial year or agree to transfer

You can become a monthly donor and make regular gifts to

an asset to the Foundation at some time in the future.

the Foundation that are automatically deducted from your

There may also be taxation advantages in some instances

credit card or bank account until you instruct otherwise.

in this approach.

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arrange the rest for you.

You can find the forms to arrange this at:

On request, the Foundation can provide you with more

www.utas.edu.au/foundation/donation.htm

detailed advice about making a pledge to assist its work.

or contact us directly to make the arrangements.

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…Endowing the future

The University of Tasmania Foundation

Recognising your support

Joining the Foundation

The UTAS Foundation welcomes the opportunity to publicly

Donors are offered the chance to become members of

recognise and thank its generous donors not only to show

the University Foundation. Members are recognised as

our gratitude but because it also serves as a positive

part of a special community who have individually made

example to others who might be considering where they

a contribution to the advancement of higher education

could lend support.

for Tasmanians.

Depending on the nature of your gift (and your wishes in this

Our supporters gain membership from a direct donation

respect), recognition may be given in a number of ways:

or a pledge of support.

• membership of the University Foundation at a variety of levels (see list on the right) • the naming and promotion of your scholarship or bursary • acknowledgement at the annual Foundation Awards Dinner • media coverage and acknowledgement in University publications

Joining the Foundation indicates you value the work the University undertakes on behalf of its growing family of students.

Membership categories CORPORATE/ INDIVIDUAL

DONATIONS

PLEDGES

Patron

$30,000 or more

$60,000 or more

Benefactor

$20,000 to $29,999

$40,000 to $59,999

Fellow

$5,000 to $19,999

$10,000 to $39,999

Member

$1,000 to $4,999

$2,000 to $9,999

• scholarship presentations Many donors just enjoy meeting with their students, learning of their academic progress and seeing the benefits of their support through the personal growth of their students. If you intend to support other activities and programs, such as research areas, opportunities can be provided to meet with researchers and to be briefed on research developments.

With some special gifts, it is possible to name a building

Donations are accumulative and categories are upgraded

or a research facility or an academic chair.

automatically.

As far as possible, the Foundation would like to recognise

Contacting the Foundation We endeavour to give every donor personal attention. Contact us on (03) 6226 1920

you during your lifetime, so if you are considering a bequest,

Taxation advice

we value the chance to discuss this with you in confidence.

The University of Tasmania Foundation is classified as

will ensure that the right person assists you in making it happen.

The University Foundation will also respect your wish for

a charity and non-profit organisation. In most cases an approved donation and gift to the University of Tasmania

Or write to us at:

anonymity. No matter what, your gift will be appreciated and put to sensible use supporting the growth and educational

Foundation will be tax deductible and GST free if:

enrichment of Tasmanians.

• it is made voluntarily • it does not provide material benefit to the donor • it essentially arises from benefaction and proceeds from detached and disinterested generosity If you are uncertain about the tax situation relating

to talk with one of our Development Officers about your specific intention and we

University of Tasmania Foundation

Citizens and residents of the United States

Private Bag 40

can contact the UTAS Foundation (USA) at:

Hobart, Tasmania 7001 Australia Tel: (03) 6226 1920 Intl: +61 3 6226 1920 Fax: (03) 6226 2018 Intl: +61 3 6226 2018 Email: University.Foundation@utas.edu.au

PO Box 3995 ITHACA NY 14852-3995 USA Tel: +1 607 277 1346 Fax: +1 607 277 0078

to a donation you can contact the University Foundation for assistance of a general nature. However, the Foundation requests that donors seek their own independent taxation advice.

Information in this booklet is current at February 2009.

Its contents are intended as a guide to benefactors. The University Foundation reserves the right to alter or delete material at any time.

University of Tasmania Foundation ABN 20 056 132 661

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