The Heritage Bank Charitable Foundation is now able to accept donations - and community members have been urged to assist people in need by throwing their support behind it.
Heritage Bank late last year announced that it was launching the Heritage Bank Charitable Foundation to magnify its charitable contributions back to the community.
The Foundation will provide funding grants to not-for profit groups for projects aimed at building and improving community wellbeing and life outcomes for people.
Heritage Bank contributed $2 million to kick-start the Foundation’s funding reserves last year.
Inaugural Charitable Foundation Chair Mr Bill Armagnacq said recent efforts had focused on ticking off all the necessary government and legal approvals needed to become operational.
The final approval arrived last week, which means the Foundation is now legally able to accept donations from the public.
That milestone was celebrated at a launch function In Toowoomba last night.
“Having all approvals now in place is extremely exciting for us and means we can now move forward on fulfilling our mission of making a positive contribution to building better communities,” Mr Armagnacq said.
“But we can’t do that alone.
“We need people to join with us and support the Foundation by making donations that will enable us to achieve our goals.
“That’s the only way we can build up a big enough pool of funds to ensure we can generate the income needed to fund ongoing grants into the future.”
Mr Armagnacq said the Foundation had been structured in such a way that people could claim full tax deductions for the donations they make.
“Having that tax deductibility is an excellent incentive for people to support the Foundation, as well as knowing that their donation will help reputable and deserving charity organisations,” he said.
Mr Armagnacq also announced the news that Brisbane lawyer Christine Maher had been appointed to the Board of the Heritage Bank Charitable Foundation.
Ms Maher is a former partner of Corrs Chambers Westgarth and an experienced non-executive director. She is currently a director of Energy Super and the St Joseph’s College Foundation as well as being a former member of the QSuper, WorkCover Queensland and Royal Brisbane Women’s Hospital Foundation Boards.
Ms Maher will sit on the Board alongside existing directors Bill Armagnacq, Paul Williams and Steve Davis. The Foundation plans to announce the appointment of additional directors in the near future.
Heritage Bank CEO Peter Lock said ticking off the administrative requirements meant the Charitable Foundation could now move forward on its mission to support a wide range of people in need in our communities, including disadvantaged and at-risk families, elderly persons and young people, particularly in relation to education, cultural, health, social and financial wellbeing.
When the Foundation is fully operational, it is expected to call for submissions and announce grant recipients twice a year.
“Heritage Bank has a long history of giving back to the community and the Charitable Foundation is a wonderful way to make that contribution bigger and better.
“We expect to put out the first call for grant submissions early in 2020 and announce our first grant recipients around April of next year,” Mr Lock said.
“The amount and number of grants we can make will be dependent on the size of the funding reserves we can amass for the Foundation.
“That’s why it’s important for us to build up those reserves quickly.
“I know our customers and our communities are extremely generous, and will throw their support behind the Foundation and its very worthy goals.”
Tax deductible donations can be made in a number of ways! Head to our donate page for more information.
PHOTO: Inaugural Heritage Bank Charitable Foundation Chair Bill Armagnacq (left) and Heritage Bank CEO Peter Lock.