THE ARCHITECTURE FOUNDATION

TRUSTEES OF THE FOUNDATION

Robert Donaldson Architect (ARBnsw 2824), F.R.A.I.A. (19291)
Chair and Trustee of the Foundation. An original committee member.
Registered as the Responsible Person of the Foundation. Retired Architect and formerly Head of the School of Architecture, University of Newcastle. Also, as Hon. Treasurer, maintains all financial records, pays accounts, banks donations and makes the books balance.
Endeavours to keep meetings short and background work long.

Matt Hull, Practising Architect (ARBnsw 8251) and graduate in Architecture from Newcastle. Matt joined the committee in 2009 and brings a youthful view to ensure that the committee is both broad and substantial in its endeavours.

ABOUT THE TRUSTEES

The trustees of the Foundation are required to be:

• A Responsible Person, which, for the purposes of this Foundation include, amongst others nominated in the legislation, persons who are registered as architects with the Architects’ Registration Board of N.S.W. and/or are full members of the Royal Australian Institute of Architects, both organizations having a formal code of ethics and well defined rules of conduct or
• Two persons, at least one of whom is a Responsible Person or
• A body corporate whose board includes at least one Responsible Person.

The trustees have wide-ranging and significant powers and responsibilities to manage and control the Foundation. These powers and consequent limitations are spelt out in the Trust Deed in Sections 8, 9 and 10.

ABOUT RESPONSIBLE PERSONS

The role of the Responsible Person is to monitor the administration of the Foundation to ensure it is complying with the terms of the trust instrument, the particular version of the ATO guidelines applicable to it and any arrangements made with the ATO, including a gift accumulation plan until 2014. The Responsible Person does not have to control the trustee nor does it need to be in a majority.

For the purposes of this Foundation, the trustees nominated above, individually and jointly meet the conditions of being Responsible Persons.

TRUSTEE’S POWERS

The powers of the Trustee are defined in Clauses 8, 9 and 10 of the Trust Deed. They are wide ranging, and substantial.
Clause 8.2 (d) of the Trust Deed permits the Trustee to “take and act on the opinion of a barrister practising in Australia in relation to the Trust Deed or any of the trusts or powers of the Trust Deed...”

The barrister from whom all legal opinion would be sought is Mr Ian Bailey SC (Senior Counsel, Sydney Bar and previously, Newcastle architecture student, Class of 1963). In addition, operational legal advice is provided by Parker and Randall, Solicitors of Newcastle.

GIFT ACCUMULATION PLAN

The Gift Accumulation Plan of the Foundation is intended to permit the establishment of a significant capital base on which the Foundation’s Fund is based.

The current Gift Accumulation Plan includes retention of 90% of all gifts and donations from 2007 until 2014.  An amount of 10% of all gifts and donations as well as all the full amount of all other net income will be directed annually towards the nominated beneficiary, until the end of the 2013-2014 financial year. 

In the light of new and extensive changes to the establishment and operation of Private Ancillary Funds, implemented by the Australian Government on 1 October 2009, a transitional plan has been put into place in order to comply with the Private Ancillary Fund Guidelines, 2009.

THE FOUNDATION CURRENT INVESTMENT POLICY

The Trustee of The Architecture Foundation is required to invest all monies of the Trust Fund only in a way in which Trustees are permitted to invest under state and federal laws. The Trustee may seek professional assistance in determining the suitability of an investment portfolio.

For the purposes of The Architecture Foundation, the Trustee will invest all trust monies in a way that carries no risk of loss and, at the same time, maximises the greatest possible return of interest within a context of low risk.

In the light of the new and extensive changes to the establishment and operation of Private Ancillary Funds implemented by the Australian Government on 1 October 2009, a transitional plan has been put into place in order to comply with the Private Ancillary Fund Guidelines 2009.

Operational investment and financial advice is provided by Prosperity Advisers, Newcastle.
Investment currently occurs with Newcastle Permanent Building Society.

HOW BENEFITING DEDUCTIBLE GIFT RECIPIENTS ARE DECIDED BY THE FOUNDATION

A condition of establishing The Architecture Foundation is that it must direct all of its gifts to an approved D.G.R. organisation.
The trustees currently direct all gifts to benefit the University of Newcastle and consequently require that the whole amount of the annual gift be used to fund The Parker Fellowship at the University of Newcastle. (In accordance with Freehill’s Overview Clauses 9 and 12 and Taxation Ruling TR95/27 paragraph 36)