ACPNS Current Issues Information Sheet 2022-1

August 2022

Ancillary Funds 2000–2020

The intended purpose of an ancillary fund is to act as an intermediary

between donors and organisations (not individuals) that can receive
tax deductible donations. There are two types of ancillary funds that
may qualify for DGR status – Private Ancillary Funds (PAFs) and Public
Ancillary Funds (PubAFs).

In total, as at 30 June 2020, there were 3,192 ancillary funds, with

combined net assets of $10.33 billion. They received $2.12 billion in
donations in the 2019–20 year and distributed $871 million in grants.

Private Ancillary Funds (PAFs) are closely held charitable trusts to

which taxpayers can make tax-deductible donations. The term Private
Ancillary Fund is defined in taxation legislation and has some
similarities with US private family foundations. PAFs allow families,
businesses and individuals to create a tax-effective giving structure.
The sole purpose of a PAF must be to provide money, property or
benefits to funds, authorities or institutions which are deductible gift
recipients (DGRs).

Public Ancillary Funds (PubAFs) are a common structure for

fundraising and community foundations. A Public Ancillary Fund is
distinct from a Private Ancillary Fund, in that it must establish a public
fund and raise funds from the public. A majority of the people
involved in the decision-making of the PubAF must be individuals with
a degree of responsibility to the Australian community, for example,
school principals, judges, religious practitioners, solicitors, doctors
and other professional persons.

1
Private Ancillary Funds1
Table 1 displays the number of PAFs, donations received, distributions made and closing values since
2000–01.

Table 1:
Numbers of PAFs, donations received, distributions made and closing values2
Number of Donations Distributions
Closing value
PAFs Net number of received made
Year
approved in PAFs
the year ($m) ($m) ($m)
2000–01 22 22 78.66 – 78.62
2001–02 59 81 53.04 6.69 133.71
2002–03 49 130 53.18 18.42 179.33
2003–04 94 224 155.66 27.46 332.02
2004–05 95 319 192.69 57.43 523.25
2005–06 116 435 364.94 84.47 885.42
2006–07 164 599 533.26 133.42 1,484.47
2007–08 169 768 779.33 140.57 2,069.35
2008–09 54 822 272.71 155.34 2,038.19
2009–10 57 879 321.04 197.47 2,266.83
2010–11 28 907 304.39 165.41 2,124.46
2011–12 95 1,002 354.49 251.66 2,933.60
2012–13 84 1,069 316.89 277.97 3,402.97
2013–14 153 1,204 558.83 326.95 4,246.68
2014–15 144 1,315 1,867.44 422.92 5,979.52
2015–16 129 1,426 810.73 456.81 8,307.39
2016–17 139 1,495 837.16 452.27 9,403.88
2017–18 155 1,650 1,009.00 394.43 7,183.14
2018–19 108 1,731 546.39 564.58 7,304.02
2019–20 96 1,819 805.79 520.74 7,636.14

During the 2019–20 financial year, there were 96 new PAFs approved (Chart 1) bringing the total
number of PAFs to 1,819 (see Chart 2). 3

1 PAFs were known from 2001–2009 as Prescribed Private Funds (PPFs). PPFs were part of the Howard Government’s
response to the report on philanthropy in Australia by the Business and Community Partnerships Working Group on Taxation
Reform dated 26 March 1999. The initial legislation was the Taxation Laws Amendment Act (No. 2) 2000 assented to on 31
May 2000.
2 Source: Table 4: Charities. Private and Public Ancillary Funds, 2000–01 to 2019–20 income years. Australian Taxation Office

(2022) Taxation Statistics 2019–20.

3 The statistics for most income years are as at 31 October of the following year, for example the 2019–20 income year

includes data from 2019–20 returns processed by 31 October 2021. However, the statistics for the 2016–17 income year are
as at 31 October 2019.
2
 Chart 1: Number of new PAFs approved by year
180
Number of new PAFs 160
140
120
100
80
60
40
20
0

Year

Chart 2 displays the net number of PAFs by year. There has been an increase in the net number of
PAFs each year; the rate of increase slowed in the years following the global financial crisis (2008–09)
and the major reforms to the PAF regulatory guidelines.

Chart 2: Net number of PAFs by year

2000
1800
Number of PAFs

1600
1400
1200
1000
800
600
400
200
0

Year

3
Chart 3 displays the percentage change year on year in the total number of PAFs. The total number of
PAFs grew 5.08 per cent between 2018–19 and 2019–20. This was a slight increase from the previous
year when PAF numbers grew 4.91 per cent.

Chart 3: Percentage change in PAF numbers

year on year
80%
70%
Percentage change

60%
50%
40%
30%
20%
10%
0%

Year

As can been seen in Chart 4, for the year ending 30 June 2020 a total of $805.79 million in donations
was received by PAFs. This represents an increase of 47.48 per cent in donations from the 2018–19
financial year, during which $546.39 million was donated to PAFs.4

4 The sharp spike in donations received for 2014-15 is attributable to the Paul Ramsay Foundation.
4
 Chart 4: Total donations received by PAFs by year
2000
1800
1600
1400
1200
$ million

1000
800
600
400
200
0

Year

Chart 5 displays the average donation received per PAF. This figure rose gradually from 2002–03 to
2007–08, when it decreased sharply due to the Global Financial Crisis. It then remained fairly stable
until a sharp spike in 2014–15 to $1.42 million.5 The average donation received per PAF then
decreased to $568,535 in 2015–16 where it remained steady for three years, before dropping to
$315,648 in 2018–19. In 2019–20, this figure rose by 40.34 per cent to $442,985 on average per PAF.

5 The sharp spike in the average donation received for 2014-15 is attributable to the Paul Ramsay Foundation.
5
 Chart 5: Average donation received per PAF by year
1,600,000
1,400,000
1,200,000
1,000,000
$

800,000
600,000
400,000
200,000
0

Year

Chart 6 displays the value (in millions) of distributions (grants) made over the years by PAFs. This figure
has generally risen steadily. There were small decreases in 2010–11 and again in 2016–17. This was
followed in 2017-18 by a 12.61 per cent drop but it recovered with a 43.14 per cent increase in
distributions in the following year. In 2019–20, this has once again dropped by 7.76 per cent to
$520.74 million.

Chart 6: Total distributions made by PAFs by year

600

500

400
$ million

300

200

100

Year

6
Chart 7 displays the average amount distributed per PAF by year. This amount has steadily increased
over time but plateaued in 2015–16, before falling in 2017–18. The 36.44 per cent increase in 2017–
18 was short-lived as the average amount distributed per PAF has dropped by 12.23 per cent in 2019–
20. The average annual distribution is now $286,280 per PAF.

Chart 7: Average distributions per PAF by year

350,000
300,000
250,000
200,000
$

150,000
100,000
50,000
0

Year

Table 2 displays the areas to which donations made by PAFs increased from 2018–19 to 2019–20. The
biggest increases from the previous year went to fire and emergency services organisations. Cultural
organisations also saw an increase in donations by 49.52 per cent (see Table 3). In contrast, sports and
recreation organisations saw a decrease in donations by 84.77 per cent. This is displayed in greater
detail in Table 3.

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 Table 2:
Actual and percentage increase in donations by PAFs to various organisation categories
Donations made in Donations made in
Category Percentage increase
2018–19 2019–20
Fire & emergency services 15,000 409,539 2630.26%
Other organisations 12,500 179,500 1336.00%
The family 31,700 94,000 196.53%
Ancillary funds 9,899,689 17,108,027 72.81%
Cultural organisations 40,466,275 60,506,124 49.52%
Not a deductible gift recipient 4,517,544 6,632,648 46.82%
Welfare & rights 121,479,830 161,630,540 33.05%
Health 43,133,784 50,580,546 17.26%
Multi 123,721,941 139,949,804 13.12%
International affairs 7,181,472 7,866,074 9.53%

Table 3:
Actual and percentage decrease in donations made by PAFs to various organisation categories
Donations in Donations in
Category Percentage decrease
2018–19 2019–20
Sports & recreation 135,300 20,600 -84.77%
Legislated 6
172,740,438 44,284,666 -74.36%
Education 13,804,231 7,319,953 -46.97%
Private Ancillary Funds 606,610 346,662 -42.85%
Defence 27,000 16,000 -40.74%
Research 15,240,713 12,664,166 -16.91%
Environment 11,566,861 11,134,422 -3.74%

Table 4 displays the distributions (grants) made by PAFs by category of recipients from 2009–10 to
2019–20.7

6
Section 30-105 of the ITAA 1997 contains a table that specifically lists recipients of deductible gifts which do not fit into
other categories listed in Division 30 ITAA 1997
7 Data for 2013–14 through 2015–16 was not made available by the ATO

8
 Table 4: PAF distributions ($) made to deductible gift recipients by category of recipients, 2009–10 to 2019–208
DGR General
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018–19 2019–20
categories
Ancillary Fund DGRs 4,631,412 11,611,933 6,382,749 4,442,391 n/a n/a n/a 5,572,296 9,941,940 9,899,689 17,108,027
Cultural Organisations 26,368,480 28,341,761 22,760,139 40,937,178 n/a n/a n/a 44,193,448 36,333,155 40,466,275 60,506,124
Defence n/a n/a n/a n/a n/a n/a n/a 65,500 59,600 27,000 16,000
Education 20,261,363 9,977,762 24,771,616 36,360,901 n/a n/a n/a 12,106,888 6,641,587 13,804,231 7,319,953
Environment 12,645,892 13,311,684 8,153,522 9,049,031 n/a n/a n/a 13,417,426 9,683,089 11,566,861 11,134,422
The family n/a n/a n/a n/a n/a n/a n/a 30,000 100,000 31,700 94,000
Fire & emergency
n/a n/a n/a n/a n/a n/a n/a 15,000 10,000 15,000 409,539
services
Health 18,435,455 14,160,319 33,001,353 27,926,685 n/a n/a n/a 48,968,584 40,678,204 43,133,784 50,580,546
International Affairs 16,179,924 17,584,209 18,019,217 19,568,947 n/a n/a n/a 14,494,518 10,421,142 7,181,472 7,866,074
Legislated n/a n/a n/a n/a n/a n/a n/a 30,034,735 30,817,283 172,740,438 44,284,666
Multi n/a n/a n/a n/a n/a n/a n/a 119,152,183 124,943,021 123,721,941 139,949,804
Not a DGR9 949,900 32,100 1,991,891 562,130 n/a n/a n/a 6,246,643 6,744,721 4,517,544 6,632,648
Not a DGR but a TCC10 0 362,640 1,059,832 1,804,772 n/a n/a n/a n/a n/a n/a n/a
Research 25,081,891 4,931,365 32,605,299 8,999,479 n/a n/a n/a 49,933,203 13,852,278 15,240,713 12,664,166
Sports & Recreation 53,535 87,697 65,743 41,900 n/a n/a n/a 188,417 69,500 135,300 20,600
Welfare & Rights 48,878,297 42,091,825 69,836,571 72,427,783 n/a n/a n/a 106,281,883 103,964,241 121,479,830 161,630,540
Private Ancillary Funds n/a n/a n/a n/a n/a n/a n/a 1,140,585 48,500 606,610 346,662
Other11 23,983,222 22,916,849 33,015,696 21,427,641 n/a n/a n/a 427,000 121,000 12,500 179,500
Insufficient details
n/a n/a n/a 937,633 n/a n/a n/a n/a n/a n/a n/a
provided
Total distributions
197,469,370 165,410,144 251,663,628 277,970,272 326,946,377 422,916,380 456,806,890 452,268,309 394,429,261 564,580,888 520,743,271
made

8The statistics for most income years are as at 31 October of the following year, for example 2012–13 income year includes data from 2012–13 returns processed by 31 October 2014.
However, the statistics for the 2011–12 income year were sourced from 2012 returns processed by 18 June 2014.
9 'Not a DGR' includes distributions made to recipients where ABN details are not provided, incomplete or not to a valid recipient.
10 'TCC' stands for Tax Concession Charity.
11 In the years prior to 2016-17, 'Other' includes donations to ‘family’, ‘defence’, ‘industry, trade and design’, ‘philanthropic trusts’, 'fire & emergency organisations' and specifically listed DGRs in legislation (Legislated).

9
Chart 8 displays the percentage of net assets distributed by PAFs each year. The Private Ancillary Fund
Guidelines mandate a minimum annual distribution rate. During each financial year, a PAF must
distribute at least 5% of the market value of the fund's net assets as at the end of the previous financial
year, 12 with a minimum annual distribution of $11,000 (unless the expenses of the fund are being met
outside the fund).

In 2019–20, PAFs distributed $520.74 million, which was 7.13 per cent of their net assets of $7,304.02
million as at 30 June 2019. This is a slight decline from the previous year where they distributed 7.86
per of their net assets. At their peak in 2004–05, PAFs distributed 17.30% of their net assets.

Chart 8: PAF distributions as a percentage of net assets

by year
20%
18%
16%
14%
12%
Percentage of assets

10%
8%
6%
4%
2%
0%

Year

12There are two exceptions to the minimum distribution requirement of 5% of net assets. A PAF may make an individual
request for the Tax Commissioner to reduce its minimum distribution for the year in question. Further, newly established
foundations are not bound by the requirement in their first year of operation (but may nevertheless choose to distribute
funds).
10
Chart 9 displays the closing asset value of PAFs by year. In 2019–20, the net PAF assets were $7,636.14
billion, an increase of 4.55 per cent over the previous year.

Chart 9: Net PAF assets by year

10000
9000
8000
7000
6000
$million

5000
4000
3000
2000
1000
0

Year

In summary, the overall picture for PAFs is one of increasing numbers, donations received and net
assets, while number of new PAFs approved and distributions (grants) made have decreased. Grants
showed the greatest percentage increase to fire and emergency services, and the greatest percentage
decrease to sports and recreation organisations and legislated DGRs.

11
Public Ancillary Funds
In 2019–20, there were 1,373 PubAFs including 45 new PubAFs approved during the year (see Table
5). Donations received in 2019–20 ($1.31 billion) increased by 54.88 per cent from 2018–19 (when
donations received reached $846.79 million). In 2019–20, a total of $349.80 million was distributed,
leaving $3.953 million in net assets.13

Table 5:
Number of PubAFs, donations received, distributions made and closing asset values14
Number of Donations Distributions Net PubAF
PubAFs Net number received made assets
Financial Year
approved in of PubAFs15
($m) ($m) ($m)
the year
2011–12 101 1,437 337.48 370.47 1,682.07
2012–13 99 1,527 465.70 470.06 2,957.39
2013–14 91 1,550 617.45 525.23 3,461.26
2014–15 81 1,539 622.63 507.98 3,717.09
2015–16 84 1,449 768.31 394.14 3,822.37
2016–17 68 1,304 691.67 469.78 2,586.93
2017–18 51 1,355 683.60 394.95 3,483.32
2018–19 48 1,359 846.79 402.33 3,025.10
2019–20 45 1,373 1,311.54 349.80 3,953.00

Chart 10 shows that the number of new PubAFs has decreased with 45 new PubAFs being approved
in 2019–20, compared to 48 approved in the previous year. This number has fallen every year except
2015–16.

13The statistics for most income years are as at 31 October of the following year, for example 2019–20 income year includes
data from 2019–20 returns processed by 31 October 2021. However, the statistics for the 2016–17 income year are as at 31
October 2019.
14 Source: Table 4: Charities. Private and Public Ancillary Funds, 2000–01 to 2019–20 income years. Australian Taxation

Office (2021) Taxation Statistics 2019–20.

15 Unlike PAFs, which were a new philanthropic structure created in 2000, 1,437 PubAFs were already in existence when the

ATO started reporting data in 2011-12.

12
 Chart 10: Number of new PubAFs approved by year

Number of new PubAFs 120

100

80

60

40

20

Year

For the third time since 2013–14, there has been small growth in the total number of PubAFs in 2019–
20 (allowing for the closure of some PubAFs) with a slight increase of 1.03% (see Chart 11).

Chart 11: Net number of PubAFs by year

1,600
Number of PubAFs

1,550
1,500
1,450
1,400
1,350
1,300
1,250
1,200
1,150

Year

Chart 12 shows that the percentage change of PubAF numbers has fallen each year from a high of
6.26% growth in 2012–13 to a 10.01% decline in 2016–17. In 2019–20, overall PubAF numbers grew
1.03 per cent (or a net growth of 14 PubAFs).

13
 Chart 12: Percentage change in PubAF numbers
year on year
8%
6%
Percentage change

4%
2%
0%
-2%
-4%
-6%
-8%
-10%
-12%

Year

Chart 13 displays the total amount received by PubAFs in donations each year. In 2019–20, PubAFs
received $1.31 billion (an increase of 54.88 per cent from the previous year).

Chart 13: Total donations received by PubAFs by year

1400
1200
1000
800
$ million

600
400
200
0

Year

In 2019–20, PubAFs received on average $955,237.29 each in donations. This equates to a

53.30 per cent increase from 2018–19 (see Chart 14). This follows a 23.51 per cent increase in the
previous income year.
14
 Chart 14: Average donations received per PubAF
Average donation received ($) 1,200,000

1,000,000

800,000

600,000

400,000

200,000

Year

In 2019–20, PubAFs made distributions (grants) totalling $349.80 million. This is a decrease of 13.06
per cent from the previous year where distributions totalled $402.33 million (see Chart 15). This is the
lowest amount recorded since reporting began in 2011–12.

Chart 15: Total distributions (grants) made by PubAFs

by year
600

500

400
$ million

300

200

100

Year

15
Chart 16 displays the average amount distributed per PubAF by year. This amount has varied between
$250,000 and $360,000 since records began in 2011–12. In 2019–20, PubAFs distributed $254,771 on
average, a 13.94 per cent decrease from the previous year.

Chart 16: Average distributions (grants) made per

PubAF by year
400,000
Average distributions ($)

350,000
300,000
250,000
200,000
150,000
100,000
50,000
0

Year

Chart 17 displays the amount distributed by PubAFs as a percentage of donations received in the same
year, sometimes call the “flow-through” rate. In 2019–20, PubAFs distributed 26.67 per cent of the
amount of donations received, a decrease from 47.51 per cent in the previous year. This figure has
been in decline since 2016–17 when PubAFs distributed 67.74 per cent.

16
 Chart 17: PubAF distributions as a percentage
of donations received in the same year
Percentage of donations received 120%

100%

80%

60%

40%

20%

0%

Year

Table 6 displays the actual and percentage increase in distributions by PubAFs to various organisation
categories. Donations increased in 2019–20 significantly to fire and emergency services, ancillary
funds, environment and research. Donations decreased most to education, welfare and rights, and
sports and recreation organisations (see Table 7).

Table 6:
Actual and percentage increase in donations by PubAFs to various organisation categories
Donations made in Donations made in
Category Percentage increase
2018–19 2019–20
Fire & emergency services 2,786 214,605 7602.98%
Ancillary funds 1,846,580 9,184,665 397.39%
Environment 1,012,144 3,907,402 286.05%
Research 4,597,891 7,240,839 57.48%
Not a deductible gift recipient 11,989,569 15,157,051 26.42%
Multi 113,798,777 119,378,969 4.90%
Cultural organisations 12,504,751 12,944,839 3.52%

17
 Table 7:
Actual and percentage decrease in donations by PubAFs to various organisation categories
Donations made in Donations made in
Category Percentage decrease
2018–19 2019–20
Education 21,934,704 11,479,836 -47.66%
Welfare & rights 134,373,288 76,509,299 -43.06%
Sports & recreation 670,368 481,727 -28.14%
The family 5,609 5,000 -10.86%
International affairs 1,620,643 1,486,823 -8.26%
Legislated 6,226,867 5,799,677 -6.86%
Health 91,706,256 86,005,252 -6.22%
Other organisations 1,000 0 -100.00%
Private Ancillary Funds 39,550 0 -100.00%

Table 8 displays the distributions made by PubAFs to DGRs by the category of recipients from 2011–
12 to 2019–20.

18
 Table 8: PubAF distributions (grants) made ($) to deductible gift recipients by category of recipient, 2011–12 to 2019–2016
DGR General
2011-12 2012-13 2013–14 2014–15 2015–16 2016–17 2017-18 2018–19 2019–20
categories
Ancillary Fund DGRs 3,456,273 5,836,347 n/a n/a n/a 2,067,643 950,221 1,846,580 9,184,665
Cultural Organisations 11,030,854 13,929,865 n/a n/a n/a 14,518,489 11,007,280 12,504,751 12,944,839
Defence n/a n/a n/a n/a n/a 20,435 7,070 0 4,038
Education 65,139,978 104,753,951 n/a n/a n/a 50,921,181 22,579,856 21,934,704 11,479,836
Environment 918,933 1,072,759 n/a n/a n/a 963,758 1,194,596 1,012,144 3,907,402
The family n/a n/a n/a n/a n/a 3,000 5,000 5,609 5,000
Fire & emergency
n/a n/a n/a n/a n/a 6,121 7,325 2,786 214,605
services
Health 54,550,247 48,184,549 n/a n/a n/a 84,821,516 62,222,918 91,706,256 86,005,252
International Affairs 4,355,701 7,972,587 n/a n/a n/a 2,650,673 1,527,741 1,620,643 1,486,823
Legislated n/a n/a n/a n/a n/a 8,516,300 4,901,203 6,226,867 5,799,677
Multi n/a n/a n/a n/a n/a 142,065,179 131,642,436 113,798,777 119,378,969
Not a DGR17 6,652,301 1,292,749 n/a n/a n/a n/a 11,989,569 15,157,051
Not a DGR but a TCC18 3,270,894 6,995,191 n/a n/a n/a 24,991,293 10,600,170 n/a n/a
Private Ancillary Funds n/a n/a n/a n/a n/a 0 1,000 39,550 0
Research 26,527,038 11,571,858 n/a n/a n/a 10,610,064 9,748,151 4,597,891 7,240,839
Sports & Recreation 633,227 698,365 n/a n/a n/a 446,819 573,088 670,368 481,727
Welfare 192,109,915 100,694,479 n/a n/a n/a n/a n/a 134,373,288 76,509,299
Other19 1,801,370 1,527,638 n/a n/a n/a 105,749 5,100 1,000 0
Insufficient details
n/a 1,815,097 n/a n/a n/a n/a n/a n/a n/a
provided
Total distributions made 370,466,731 470,064,831 525,233,837 507,979,232 394,141,696 469,779,301 394,946,995 402,330,783 349,800,022

16The statistics for most income years are as at 31 October of the following year, for example 2012–13 income year includes data from 2012–13 returns processed by 31 October 2014.
However, the statistics for the 2011–12 income year were sourced from 2012 returns processed by 18 June 2014.
17 'Not a DGR' includes distributions made to recipients where ABN details are not provided, incomplete or not to a valid recipient.
18 'TCC' stands for Tax Concession Charity.
19 In the years prior to 2016-17, 'Other' includes donations to ‘family’, ‘defence’, ‘industry, trade and design’, ‘philanthropic trusts’, 'fire & emergency organisations' and specifically listed DGRs (legislated).

19
Chart 18 plots the total distributions (grants) made as a percentage of assets as at the end of the
previous financial year. It reveals that PubAFs distributed $349.80 million in 2019–20, which was 11.56
per cent of their net assets of $3,025.10 million as at 30 June 2019. This is the same percentage as the
previous year, but down from the peak in 2012–13, where they distributed 27.69 per cent of their
income. This is greatly in excess of the minimum 4% distribution mandated in the Public Ancillary Fund
Guidelines.

Chart 18: PubAF distributions as a percentage of assets

by year
30%
Percentage of assets

25%

20%

15%

10%

5%

0%

Year

Chart 19 shows that net PubAF assets increased by 30.67 per cent in 2019–20 to $3.95 billion.

20
 Chart 19: Net PubAF assets by year
4500
4000
3500
3000
$ million

2500
2000
1500
1000
500
0

Year

Chart 20 indicates that the average net assets have increased by 29.34 per cent in 2019–20 to
$2.88 million per PubAF. This is the highest recorded since reporting began in 2011–12.

Chart 20: Average net assets per PubAF by year

3,500,000
Average net assets ($)

3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0

Year

In summary, the overall picture for PubAFs shows steady net numbers, significant increases in
donations received and net assets, while distributions made have dropped.

21
Electronic copies of the complete working paper ACPNS 75: An Examination of Tax-Deductible
Donations made by Individual Australian Taxpayers in 2019–20 are available from the QUT website at
https://research.qut.edu.au/australian-centre-for-philanthropy-and-nonprofit-studies/research/an-
examination-of-tax-deductible-giving/.

How to cite this document

McGregor-Lowndes, Myles, Balczun, Marie & Williamson, Alexandra (2022) Ancillary Funds 2000-
2020. ACPNS Current Issues Information Sheet 2022/1. Australian Centre for Philanthropy and
Nonprofit Studies, QUT, Brisbane

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