The foundation is intended to be a long-term source of assistance. Its funds are invested, by independent trustees, and so earn income, and additional funds come in by way of donations from like-minded people or organisations. [See How You Can Help]
The foundation operates on a shoe string. No director takes a salary. Almost all of its functions are provided free of charge and so no rent, power or telephone expenses are incurred. For the most part the foundation relies for its skills and operations on good people who are prepared to donate their time and skill.
Current assets. Currently the fund has assets of approx. $7.3m.
colman foundation is a Deductible Gift Recipient under the Income Tax Assessment act 1997. so not only are all donations made to us tax-deductible, but all income earned from the foundation’s investments is earned tax free.