Sharegift: "Good Business Sense And Good Charitable Sense"

4 September 2008

ShareGift has issued an invitation to Australian listed companies to participate in its unique share sale program to promote charitable giving.

Companies participating in ShareGift can reduce their administration costs, while mobilising a new stream of funding for charities, Christopher Thorn, ShareGift Australia Chairman and Executive Director, Philanthropic Services, Goldman Sachs JBWere, said.

"It's our experience that for listed companies, participating in ShareGift makes good business sense, as well as good charitable sense."

Mr Thorn was speaking at ShareGift's Sydney launch on August 26, hosted by ASX's Managing Director and CEO Robert Elstone and attended by more than 60 ShareGift supporters from the corporate, broking and charitable communities.

ShareGift allows shareholders to convert their shares into charitable donations, by selling their small or large parcels of shares on market at no brokerage cost. Shareholders receive a receipt from ShareGift which they can use to claim a tax deduction. ShareGift in turn donates the cash to Australian charities.

Free brokerage is provided by Goldman Sachs JBWere, ShareGift's founding broker, and Macquarie Private Wealth.  ASX rebates exchange fees to brokers for ShareGift transactions.

Mr Thorn highlighted the participation of NAB which has twice mailed its shareholders inviting them to participate in ShareGift. "Feedback from NAB shareholders is that on both occasions they regarded ShareGift as a practical and welcome service," Mr Thorn said.

"Shareholders with small parcels of shares - shares that might be uneconomic to sell - are particularly attracted to ShareGift because of the free brokerage.  But there is no limit to the size of the share parcel that can be sold without brokerage cost," he said.

Mr Elstone told the gathering said that he was about to sign letters to shareholders of ASX Ltd, and would be including information about ShareGift.

At the launch, Mr Thorn and Mr Elstone presented cheques to charities that have received funding from ShareGift, including UNICEF ($11,500), National Heart Foundation, Opera Australia and Sydney Dance Company ($1000 each), and Fred Hollows Foundation, Juvenile Diabetes Research Foundation, Mission Australia, National Breast Cancer Foundation and Vision Australia ($500 each).

Third Distribution to Australian Charities

15 July 2008

ShareGift Australia is proud to announce the outcome of its third - and largest - quarterly distribution to charities.

The ShareGift Board has approved the distribution of $19,500 to fourteen Australian non-profit organisations.

The recipients include some of Australia's best known charitable organisations, working in diverse non-profit sectors including human services, health and medical research, the performing arts and the environment. 

They include the Australian Red Cross Society, Mission Australia, the National Heart Foundation, Opera Australia, Sydney Dance Company, the Make-A-Wish Foundation and the Australian Conservation Foundation.

The largest single recipient is the United Nations Children's Fund (UNICEF). UNICEF conducted a major ShareGift awareness campaign earlier this year, telling their supporters how to recommend UNICEF as a potential ShareGift recipient.

All of the recipient charities were selected by ShareGift taking into account suggestions by ShareGift donors.  ShareGift's policy is to make a minimum initial allocation of $500 to any charity, and of donating only to charities with 'DGR' (deductible gift recipient) status.

A full list of recipient organisations is provided on the attached PDF.

As a result of this distribution, ShareGift's total distribution to charities since we launched last July has passed the $30,000 mark. All the funds have been raised by shareholders taking advantage of ShareGift's brokerage-free share sale facility to make a tax-deductible charitable donation.

All donations above $2 are tax deductible and ShareGift arranges for the shares to be sold at no cost. 

Macquarie Private Wealth joins ShareGift Australia in promoting charitable share sales

23 June 2008

Clients of Macquarie Private Wealth are now able to sell their shares without paying brokerage, where the proceeds are directed to ShareGift Australia.

This new service follows the decision of Macquarie Private Wealth to provide brokerage-free execution of ShareGift share sales.

Macquarie thus becomes the second Australian broker to make this generous and practical contribution to helping fund Australian charities.

All proceeds from the share sales are donated by ShareGift to Australian charities with Deductible Gift Recipient (DGR) status, and shareholders are entitled to a tax deduction for their donation.

"Our clients have a strong philanthropic focus and this is a practical way that Macquarie Private Wealth can facilitate their charitable donations by selling parcels of shares and donating the proceeds to a good cause," the Head of Macquarie Private Wealth, Peter Coleman, said.

"People who use Macquarie brokers to sell these shares for ShareGift will receive a tax deductible donation which they can use in the lead up to the end of the financial year."

Goldman Sachs JBWere will continue to provide brokerage-free trade execution for ShareGift.

"We are delighted to welcome Macquarie Private Wealth on board, and we thank them for their willingness to assist in such a practical way. This will significantly increase our reach into the Australian shareholding community," the CEO of ShareGift Australia, Stephen Mills, said.

"ShareGift aims to make charitable share sales available to as many Australian shareholders as possible, and to this end we are seeking to enlist many brokers in providing this service."

Shareholder generosity continues through April and May

23 May 2008

ShareGift donations are close to hitting the $25,000 mark, thanks to a surge of donations in the lead-up to the end of the financial year.

Donations to ShareGift reached $24,804 by mid-May, after a six-week period in which more than 40 individual shareholders sold their shares for charity.

Shareholders are entitled to tax deductions this financial year, for all gifts over $2 made to ShareGift before 30 June.

Donors have recommended a wide range of charities to receive the proceeds of the share sales, among them Sydney Dance Company, UNICEF and the Heart Foundation.

The Board of ShareGift will take these recommendations into account when distributing the funds to charities. More than 20 charities from around Australia have already received funds from ShareGift since we launched last July.

All ShareGift transactions are sold on market free of brokerage costs.

Second Distribution to Australian Charities

12 March 2008

ShareGift Australia is delighted to announce its second quarterly distribution to charities.

The ShareGift Board has approved the distribution of $2,500 to five Australian charities, lifting the total donations by ShareGift since we launched last July over the $14,000 mark.

These donations have arisen thanks to the generosity of shareholders, who have sold small parcels of shares on market, free of brokerage costs, and directed the proceeds to ShareGift.

The five additional recipient charities are: Anti-Cancer Foundation of South-Australia, Cancer Council of Western Australia, Royal Flying Doctor Service of Australia, Sydney Children's Hospital Foundation and The Fred Hollows Foundation Australia Aboriginal Fund.

These join the 17 charities who received previous ShareGift allocations, addressing a wide range of causes within Australia and internationally.

All of the 22 recipient charities have been selected by ShareGift on the basis of donor recommendations. It is worth noting that no charity has been recommended funds higher than the minimum ShareGift allocation of $500.

All donations above $2 are tax deductible and ShareGift arranges for the shares to be sold at no cost. 

NAB leads the way

11 July 2007

National Australia Bank Limited (NAB) is the first Australian company to offer its shareholders the opportunity to donate to ShareGift Australia.

NAB has written to around 20,000 of its shareholders who hold small parcels of shares explaining how their shares could help people in need, without incurring brokerage fees.

The program is endorsed by the Australian Securities Exchange (ASX) and the Australian Shareholders Association (ASA), and NAB plans to educate shareholders about the services offered by ShareGift Australia via dividend statements and on www.nabgroup.com

"This is an exciting opportunity in particular for shareholders with inconvenient parcels of shares to benefit the community in a practical way. We believe ShareGift has the potential to really make a difference helping Australian community organisations, and we are proud to be involved in this new program," John Stewart - Group Chief Executive Officer, NAB.