- What is the vision and mission of Genesis?
- What are the requirements for an applicant for financial support from Genesis?
- What are the requirements for a project that Genesis would consider?
- Does Genesis support property projects?
- How do I make a donation to Genesis?
- Are donations to Genesis tax-deductible?
- What happens to the money I gift?
- What is Genesis Life Foundation and how does it differ from Genesis Charitable Foundation?
- What projects are excluded?
- What are the grant conditions?
General
Q. What is the vision and mission of Genesis?
The vision is:
Development funds for growing Christian work.
The mission is:
To help Christian Organisations throughout the world with strategic planning and seed capital in order to multiply their work and implement projects that become self funding, so that they have the greatest impact for Christ’s Kingdom.
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Q. What are the requirements for an applicant for financial support from Genesis?
The applicant should have a clear understanding of its vision and mission, which is clearly articulated. This mission should have a Christian basis and motive. The applicant should demonstrate good corporate governance, strong leadership and professional management principles.
The applicant must be endorsed by the Taxation Office as a Deductible Gift Recipient (DGR) or if it is not a DGR entity, then its work must be primarily in Australia and it must be endorsed as an Income Tax Exempt Charity (ITEC).
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Q. What are the requirements for a project that Genesis would consider?
The project should be strategic within the mission of the applicant and the general development of the kingdom. Once implemented, the project should produce some multiplier effect. The project should plan to become self funding in a reasonable time.
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Q. Does Genesis support property projects?
As a general rule, Genesis does not support the development of property and plant for Christian organisations. We are more interested in supporting the development of intangible activities that will be undertaken in the property and plant.
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Q. How do I make a donation to Genesis?
Gifts maybe made by bank transfer or by cheque. Simply complete the form on this website and
Either mail the cheque and the form to
Genesis Charitable Foundation
PO Box N316,
Grosvenor Place
Sydney NSW 1220
Or (if your gift is by bank transfer) fax the completed form to 02 9969 5034.
Genesis only receives monetary gifts, however transfers of financial assets can be arranged after discussion with the Chairman.
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Q. Are donations to Genesis tax-deductible?
All gifts to the Genesis Charitable Foundation over $2.00 are tax deductible. The Australian Taxation Office reference number is DGR:461 235.
You can read a copy of the letter in the Donors section of this web site.
(Donations to the Genesis Life Foundation are not tax deductible).
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Q. What happens to the money I gift?
The monies are added to a capital base and invested while the projects are investigated. The Foundation is conservatively invested with a balance of defensive and growth investments.
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Q. What is Genesis Life Foundation and how does it differ from Genesis Charitable Foundation?
Both foundations support similar projects and have similar project requirements. The same grant application form can be used.
However the foundations differ in certain tax requirements for gifts:
Gifts to Genesis Charitable Foundation are tax deductible (over $2) and grants from that foundation can only be to organisations that have the Deductible Gift Recipient status.
Gifts to Genesis Life Foundation are not tax deductible and grants from that foundation can only be to organizations that have Income Tax Exempt Charity (ITEC) status and whose work is predominantly in Australia.
The same form for gifts maybe used for either foundation.
Both foundations have the same trustee company.
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Q. What projects are excluded?
Tax restrictions: Genesis Charitable Foundation can only distribute to organizations that have Deductible Gift Recipient (DGR) status. Genesis Life Foundation can only give to organizations that have Income Tax Exempt Charity (ITEC) status.
Geographic restrictions: Genesis Life Foundation can only give to organizations whose work is predominantly in Australia.
Amount of funding: the Genesis Foundations do not usually consider applications for greater than $50,000 in the first year and reducing in subsequent years.
Other exclusions:
- Generic public fundraising appeals
- Capital or endowment funds established to provide a corpus for institutions
- Where Genesis would constitute the sole funder of an initiative
- Construction and refurbishment of buildings
- Emergency requests and disaster appeals
- Travel and accommodation costs alone
- Organizations which have a capacity to obtain significant corporate or community support
- Organisations with internal funding available
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Q. What are the grant conditions?
The conditions of the grant are broadly:
- The grant is to be used exclusively for the project
- The grantee must use their best endeavours to complete the project in the specified time
- The grantee will advise Genesis of any material change in the project
- The grantee will show the grant separately in its accounting so that the use of the funds can be reported to Genesis
- There will be no acknowledgement of Genesis in published material, without prior consent
- The grantee is to provide a report as at 30 June each year (to be received by 30 September) including description of the progress of the project, income and expenditure report relating to the project and the use of the grant funds, annual accounts of the organisation and a statement as to how the project is impacting the grantee’s ministry and the wider kingdom
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