What is the AFCM Future Fund?
The AFCM Future Fund was established in 2013 to ensure the Festival and the contribution it makes to chamber music in Australia continues into the future.
The AFCM Future Fund is a financial reserve that is separate from AFCM operating funds, created to support ‘grand vision’ projects—such as a new performance space, new performance infrastructure or an unparalleled artistic initiative—or to assist in times of extreme financial hardship, supported by a Board-approved business plan and in accordance with the objects of the company. Donations may be directed specifically to the AFCM Future Fund. The Fund is also the repository for all AFCM bequests of $10,000 and above not designated by the donor for a specific purpose.
Contributions to the Future Fund are received into the AFCM Donations Fund bank account in order to provide tax-deductibility for donations. Investment of monies in the Future Fund is made in accordance with guidelines for public funds laid down by the Australian Taxation Office and Australian Charities and Not-for-Profit Commission Governance Standards. The AFCM Board has set targets of $1 million by 2020 and 16% annual growth including new donations and return on investments. AFCM invests funds in appropriate securities to help achieve these targets, utilising independent financial advice.
As at 31 January 2019, the Future Fund has reached $313,140 or 31% of our target. No funds have been drawn from the AFCM Future Fund to date.
The Australian Festival of Chamber Music North Queensland Limited is a registered charity (with Deductible Gift Recipient Status). All donations over $2 are tax deductible. A donation receipt will be issued.
If you would like more information about donating to our the AFCM Future please contact:
T 07 4771 4144
PO Box 5871
Townsville QLD 4810
or you can make a donation directly by using the link below.