ABOUT THE FOUNDATION
The TSO Foundation works to meet the orchestra’s medium- to long-term financial needs by seeking donations from people who want to leave a musical legacy for generations to come, to contribute to the cultural life of Tasmania and who enjoy the transformative power of live musical performance.
The TSO Foundation will cherish your gifts of cash and those made through your will, and ensure that your legacy will live on forever through preserving the capital and using only the interest generated to support the orchestra. Your gift will help secure the orchestra’s future.
Why is the Foundation important to the TSO?
It is a major financial challenge to ensure the TSO continues as a busy and successful orchestra. Earnings from a substantial endowment fund are key to supporting this vision.
What is the TSO Foundation Trust?
Formed in 2008, the Trust was designed to manage an endowment fund of at least $20 million. Earnings will support the future financial security of the TSO.
What funds does the Trust currently have?
For some years the Trust will continue in the building phase. Currently it has around $1.5 Million in funds.
How is the Trust structured?
The Trust has a corporate trustee, the TSO Foundation Ltd, which looks after the Trust funds.
How is the Trust managed?
The Trust is managed by an independent board of honorary directors, supported by a Board audit and risk committee. The Trust and the Foundation are independently audited on an honorary basis by Deloitte. Independent investment and portfolio advice is provided by Unica Wealth.
Where can I get more information?
Please contact the Philanthropy team on 03 6232 4430 or email email@example.com.
FOUNDATION TAX MATTERS
What are the tax implications of my bequest? It is a good idea to let your family know you have made a gift to the TSO Foundation in your will. It is suggested you discuss this with your legal and financial advisers.
What are the tax implications of a donation to the TSO Foundation? The TSO Foundation is a deductible gift recipient. Therefore, your donation is tax deductible. It is suggested you discuss this with your taxation adviser.
Can a bequest or donation to the TSO Foundation be anonymous? Yes, you can advise the TSO Foundation that your identity is to remain confidential.
Can I direct where my bequest to the TSO Foundation is to be spent? The Trust Deed does provide for a directed gift, provided the TSO Foundation directors and the TSO believe the gift can be satisfied.
The Tasmanian Symphony Orchestra Foundation Limited, (ACN 131 401 440), a company limited by Guarantee, is Trustee of the TSO Foundation Trust. The registered office is at 1 Davey Street Hobart 7000.
The TSO Foundation Trust, ABN 29 136 095 566, is a Public Ancillary Fund for taxation purposes.