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donors

44. The fund must be public in nature.[1]

Note 1: A fund will be public in nature where it is the intention of the founders or promoters of the fund that the public will contribute to the fund and that the public participates in the administration of the fund.

Note 2: Due to the public nature of the fund, it will generally be good practice for a trustee to review, amongst other things, the purpose(s) of the fund and any non-binding preferences indicated by donors, before making distributions, unless the governing rules of the fund provide otherwise.

45. The public must be invited to contribute to the fund.

Note 1: The features of a *public ancillary fund can be contrasted with those of a private ancillary fund, because these funds can collect donations from the public.

Note 2: A public ancillary fund may establish sub-funds in relation to contributions from particular donors. However, the fund must be under no obligation to comply with any requests from a donor.

46. The fund must issue a receipt (upon request) in respect of each gift it receives.

46.1. The receipt must include the name and *ABN of the fund and the name of the donor and must state that the receipt is for a gift received by the fund.

Note: See section 30-228 of the Income Tax Assessment Act 1997 for further rules about receipts to be issued by deductible gift recipients.