Clubs are under significant financial strain as a result of COVID-19. Donations are a way to raise important funds to ensure clubs are sustainable through this unprecedented time.
A donation made directly to a sports club would not have the benefit to the donor of tax deductibility. However, through donations made to the Australian Sports Foundation for the benefit of the club, members and other stakeholders will receive the benefit of tax deductibility, increasing the attractiveness of donating, particularly with the end of financial year approaching.
Providing a tax deductible donation to your club
Steps for clubs wishing to utilise this option through the Australian Sports Foundation include:
1. Open an account and start a project with the Australian Sports Foundation. Sign up is quick and easy. Just go to the website and click on Sign up Now (there is no cost to sign up and start a project).
2. You will get a welcome email with instructions on how to set up your online project and a customised URL. You will also be contacted by your dedicated Sports Partnership manager.
3. Communicate with your members and other stakeholders explaining the impact of COVID-19 to your club, and/or the initiative the club is raising money for and provide the link to your club’s project on the Australian Sports Foundation website.
Who is the Australian Sports Foundation?
The Australian Sports Foundation is Australia’s leading non-profit sports fundraising organisation and charity. Over the past 30 years they have distributed hundreds of millions of dollars to thousands of Australian sporting clubs, organisations and athletes to help develop an inclusive and active sporting nation, strengthening local communities. The Australian Sports Foundation is a ‘Type 1’ Deductible Gift Recipient (DGR), meaning they can give a tax deduction AND spend funds on the cause/purpose/project intended. They are the only organisation in Australia that has this DGR for sport or sporting purposes.
What does this mean for you / what do you get?
As a club, this means you can register a project with the Australian Sports Foundation, and donors will receive a tax-deductible receipt for any donations of $2 or more that they make to the project. You’ll get a customised online fundraising page with unique URL’s to distribute to your supporters across email and social media channels. You will also get your own online portal where you can access donation information, see your progress and find fundraising user guides. You’ll also have a dedicated Sports Partnership Manager who can help you set up your project, give you fundraising tips and discuss what else is tax-deductible using the Australian Sports Foundation platform.
What can I fundraise for?
Essentially anything that helps develop sport including sports equipment and apparel, individual or team travel, facility and ground upgrades, development pathways and programs, training and coaching costs, injury/medical costs and particularly relevant to COVID-19 - operational costs or ‘keep the lights on’ campaigns.
What are the costs?
It does not cost anything to create an account or campaign; They retain 5% for online or 6% for manual donations processed through the platform. If you do not get any donations, there’s no cost and if you do not reach your fundraising target or want to close your campaign, they will pay out whatever balance is there.
How do we get started?
Signing up is quick and easy. Visit ASF website and click on Sign Up Now. You will get a welcome email with instructions on how to set up your first fundraising campaign.
If you already have an account with the Australian Sports Foundation, log in to your portal and go to ‘Launch new campaign’.
What is the expected turnaround time on funds sent by clubs to ASF?
The Australian Sports Foundation aims to return the funds within 10 business days of receipt.
Can goods or property count as a tax-deductible donation?
Tax deductible gifts to the Australian Sports Foundation don’t have to be donations of money. Donations of both money and goods or property from stakeholders or community members are acceptable. Property has to be tangible and are subject to some criteria. Further information can be accessed here or you may like to contact the Australian Sports Foundation to discuss further.