Centacare invests in a long future

Sydney
7 April 2002

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Centacare invests in a long future

By Kathleen Carmody

Centacare Sydney, the Church's welfare agency in the Sydney archdiocese, has launched a registered foundation which will use the interest from its investments to fund Centacare's work with dis advantaged people in the community.

The Centacare Foundation (Sydney) will invest money received from donations or bequests into blue-chip, minimal-risk investments and channel the yearly income into its programs.

The foundation, brainchild of Michael O'Neill, chairman of the foundation and a director of the board of Centacare Sydney, is seen as a safe investment vehicle.

People can feel secure that their donation or bequest will provide an enduring legacy to help the work of Centacare.

Chris McGee, Centacare's manager of public relations, said: "The foundation has been set up to provide a vehicle for people to invest money for perpetuity. Centacare uses the income derived to enhance its welfare programs.

"They're leaving money to charity but they know it's going to be used forever.

"They're not just donating $10,000 and it's disappearing - it's actually going to be there and people are going to get the benefit for years and years."

Investors in the foundation will also be given the option of nominating where they would like their money to go, e.g. family services, children and youth, people with a disability, aged care or education and employment programs.

Centacare Sydney derives most of its income from the Commonwealth and State governments.

The rest is made up of donations and a small percentage from the Church through its charitable works fund. Centacare sees the foundation as a way of enhancing and expanding its programs.

Ms McGee said that charities were now relying more heavily on corporate donations and bequests.

Recent events such as the September 11 attacks and corporate collapses such as Ansett were having a bearing on fundraising for charities.

"There are more demands on us because of the socio-economic climate at the moment, and we need more funds to enhance the work we already do and to continue it into the future," she said.

"The foundation is a vehicle to get funds to help us."

Governments rely heavily on agencies like Centacare to deliver professional services to people in need.

The foundation will help ensure the agency's continued existence.

The agency is particularly encouraging people to consider the foundation in their will. Donations of $2 and over are tax deductible.

The foundation's activities will be overseen by respected funds managers and will be well-controlled and audited.

It will be separate from Centacare the agency, whose programs will be required to apply to the foundation for a grant.

The foundation will soon be launched Australia-wide.

For more information or to make a don ation or bequest, call Chris McGee on 9283 3099, email chris.mcgee@centacare.aust.au or visit the newly-launched Centacare Sydney website at www.centacare.org (the site provides easy access to information about Centacare services).