Community & Associations Newsletter – April 2023
Published on March 31, 2023 by Grace Brophy and Josephine Heesh
Welcome to the April 2023 newsletter.
Topics that we mention in this edition are:
- Fund raising for overseas natural disasters
- Use of AI Technology for benefit of Charities
- Crypto Assets for Charities
- Disclosure of Key Personnel Remuneration
- Related party Transaction Disclosure
We trust you will enjoy the read.
Carroll & O’Dea Lawyers Community & Associations’ Team
Funding for Turkey and Syria
It is unfortunate that the 40,000+ people of Gaziantep and their families aren’t the only victims of the recent Turkey-Syria earthquake. Scammers have taken the opportunity to profit from the tragedy at the expense of the NFP sector.
Shakvaan Wijetunga, Law Clerk
Josephine Heesh, Partner
How charities and NFPs can benefit from the use of AI Technology
AI can provide charities and NFPs with greater insight into the patterns of their donation data by predicting likely behaviours from current and potential donors.
Advantages and Disadvantages of Crypto-Assets for Charities
As technology continues to advance and charities explore new and modern ways to fundraise, with great caution, they may investigate how crypto assets could be used.
Key Personnel Salary/Remuneration Packages
Implemented in 2022, the new remuneration reporting rules have been put in place by the ACNC to help ensure the transparency and accountability of charities.
Grace Brophy, Lawyer
Josephine Heesh, Partner
New regime for Related-Party Transactions
A related party transaction is defined as a transfer of resources, services, or obligations between related parties.
Grace Brophy, Lawyer
Josephine Heesh, Partner
Fundraising regulations move towards some uniformity
Assistant Minister for Competition, Charities and Treasury Andrew Leigh announced in February a set of sixteen nationally uniform fundraising principles developed by a Working Group of all states and territories, designed to reduce compliance costs for charities (which are estimated currently to exceed $1 million per month) and recognise changes in fundraising practice, from in person to online.
Shakvaan Wijetunga, Law Clerk
Josephine Heesh, Partner
