Wealth transfer targeted

THE impending intergenerational wealth transfer involving the baby boomers presents a significant opportunity for philanthropic organisations, according to Western Australian Community Foundation (WACF) director and Alinta chairman, Tony Howarth. But in order for not-for-profit organisations to secure donations from some of this wealth, they would have to ensure that donors had confidence their donations were well managed and used for the purpose for which they are given, Mr Howarth told a recent professional advisers forum organised by the WACF. An estimated $600 billion will change generational hands in Australia over 20 years to 2021, according to reports. However, it is not just about money, Mr Howarth told the audience, which included many of Perth’s business elite. “We need to appeal to philanthropists’ knowledge as well as to their wallets. And we have to encourage them to share their knowledge as willingly as they give their dollars,” he said. Mr Howarth, who is a member of the Prime Minister’s Community Business Partnership, said there was an opportunity to tap into Australian culture to improve the way organisations asked for philanthropic dollars. “Whatever their passion may be, we need to appeal to it, match it and share it,” Mr Howarth said. “I believe that there are many people in Western Australia just waiting to be asked to become involved.” The WACF forum was designed to assist professional advisers in talking confidently to their clients about ‘smart giving’ in WA. Representatives from Korda Mentha, PKF and Tait Farrow Azure Investment Partners were in attendance. The WACF was formed in 2004 as an independent not-for-profit organisation focused on assisting communities across the state attract and grow donated funds to help meet emerging needs into the future. Fashion festival sponsorship THE Perth Fashion Festival, Western Australia’s largest schedule of fashion events, has announced the signing of the City of Perth as the presentation rights sponsor for 2005. Festival organisers say the signing of the City of Perth marks significant growth, allowing the event management team to fund the development of WA fashion and associated creative industries. By creating opportunities for the state’s growing fashion and associated industries, it is hoped the 10-day celebration will position Perth at the forefront of fashion. Red Nose Day 2005 HEALTH experts are urging the state’s business community to take up the challenge for Red Nose Day 2005 on Friday June 24. Red Nose Day is the major fundraising event for Sids (Sudden Infant Death Syndrome) and Kids Western Australia. Money raised is used to deliver the life saving ‘Safe Sleeping Community Education Program’, which has reduced the incidence of Sids by more than 80 per cent since its introduction in 1991. Red Nose Day funds are also channelled into research looking at the causes of child mortality, including Sids. For further information, contact Sids and Kids on 9474 3544. CBH hockey sponsorship THE CBH Group has announced it will provide $15,000 worth of support to Hockey WA in 2005, which will directly benefit 24 hockey associations across rural Western Australia. This is the second consecutive year the CBH Group has teamed up with Hockey WA to provide support to rural hockey clubs throughout the Wheatbelt. The sponsorship forms part of the CBH Group’s sports sponsorship program, which provides a total of $82,000 in support of rural sports.

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