FEBC Australia has been granted permission to run as a public benevolent institution (PBI) in regards to some of our projects.
Our new PBI entity, called FEBC Relief, will manage tax deductibility for projects that are designed to relieve poverty, sickness, suffering or disability. In the past, this has been handled by a third-party called the Global Development Group.
After assuring itself of FEBC Australia’s reporting standards, governance and transparency, the FEBC Board came to the agreement that our organisation was able to realise cost and fee-savings by having its own audited PBI. This means more funds can be directed to our mission fields and relief projects, rather than being absorbed by a third-party in fees.
What does it mean for you?
All future tax-deductible receipts you receive will designate the donation to FEBC Relief. If you are already a regular giver to one of our tax-deductible projects, you do not need to do anything. Your receipt alteration will happen automatically. Our donor slips will be updated for you to choose if you wish to make a tax- or non-tax deductible gift.
Does it mean FEBC Australia will be able to offer more tax-deductibility?
In short, yes. We now have greater flexibility to look at the projects we have that are designed to relieve poverty, sickness, suffering or disability and allocate tax deductibility.
Will Give Where Most Needed (GWMN) gifts be tax deductible?
No. GWMN gifts remain non-tax deductible. This allows us to move swiftly where the need is greatest, which, for some projects, may not be in a relief area but to do with team training, bible translations into ethnic languages for broadcast etc.
What happens if projects are over-subscribed?
In the case where projects are over-subscribed, funds will be reallocated to other approved FEBC Relief projects.
You will notice the donor slips in Skywaves will start look different (pictured) in the coming months. When making a gift to FEBC, please let us know where you would like your gift directed, whether to tax-deductible or non-tax deductible. Any undirected gifts will be allocated to give where most needed.