St Andrew's Cathedral School Foundation

In 1980, St Andrew's Cathedral School Foundation Limited was established. This Foundation, with its Educational and Building Trusts will enable the School to meet its needs both in the short term and the long term and will be of great benefit for present students and those who come to the School in the future.

We at St Andrew's value or independence, which enables us to pursue these goals in our own manner, thus providing diversity to the educational enterprise of this State and offering parents a choice to suit their own individual needs.

The Foundation has a number of functions:

1. It will provide a large corpus of assets of many kinds which will give the School greater confidence in its ability to ensure its independence in the future.
2. It will provide income for projects within the School. Projects associated with buildings and with people. Students who could not otherwise do so, will be able to enrich the School by their special talent and scholarship.
3. It will increase the number of people who have an active involvement in the affairs of the School and draw upon the great source of talent which the School potentially has available to it, a source of talent which is not being used to the full extent under existing circumstances. The members of the Foundation form an ongoing group of people who have supported the School through membership of the Foundation and who will become actively involved in the work of the Foundation.
4. It is the intention of the Foundation that the corpus of funds will grow in the future years, by receiving assets of various forms, including cash gifts, testamentary gifts, low interest loans, shares in public and private companies, pictures and works of art, life insurance policies, pieces of real estate, options. The corpus of the fund will also grow by the capitalisation of all the income other than that required for immediate educational purposes.

Structure

The Foundation is a company limited by guarantee under the Companies Act and its articles were prepared by authority of the School Council. Under its Trust Deeds, expenditure other than operating expenses, is at the request of the School Council.

Operation

The Foundation will comprise a continually expanding membership of interested Parents, Past Students and Friends of the School, who are prepared to use their influence, talents and means to establish a permanent support structure for the School in the areas of finance, investment, property development, scholarships, public relations and other specialist areas.

The Foundation Needs Both Money and People

Membership is for life.

There will be three levels of Membership

Those who contribute a total of $20,000 or more shall qualify as Governors.

Those who contribute a total of $5,000 or more shall qualify as Fellows.

Those who contribute a total of $1,500 or more shall qualify as Companions.

Contributors may choose a method of giving to suit their convenience:
-	Gifts may be spread over five years;
-	Donate a realisable asset (real estate, shares in public companies);
-	Make a bequest (for testamentary gifts, the three qualifying amounts for membership as shown above are doubled);
-	Contribute by means of a deferred gift (where a member retains the use or benefit of the property comprising the gift during his lifetime);
-	Give a non-realisable asset (shares in private companies);
-	By a combination of any of the above methods; OR
-	Such other arrangements as may be approved by the Board of Management of the Foundation.

The Foundation will therefore generate both short-term and long-term funds.

Members seeking an income tax deduction should contribute to the Building Fund.

This fund will provide financial assistance for the School's immediate building needs.

Management

The Management of the Foundation is vested in a Board of Management which will comprise:

1. Persons who qualify as "Governors" and make written election to be members of the Board;
2. Three representatives of the persons who qualify as "Fellows" elected by such persons;
3. Two representatives of the persons who qualify as "Companions" elected by such persons;
4. Each Chairman, from time to time appointed by the Board of Management of the Foundation, of any Standing Committee appointed by the Board.

The Board of Management is responsible for ensuring that the Foundation operates on sound business lines and that its resources are handled skilfully, to the greatest benefit of the School.

Advantages

Those members of the St Andrew's School community who have been previously involved in conventional fund-raising appeals will readily recognise the following advantages of the Foundation:
-	It bestows life membership on those who join it.
-	The talents and experience of people are retained and marshalled as well as their financial support.
-	The management of the Foundation is in the hands of those who provide the funds and resources.
-	It need not involve a large number of people nor does it make heavy demands of time and effort on any individual.
-	It offers the donor a choice of ways of contributing both to suit his convenience and to gain maximum benefit from income tax exemptions that are available under the Law.
-	It attracts both short-term and long-term funds and resources.
-	It accumulates funds for unrestricted use in addition to the funds that are received for building purposes only.