Governance

The Stand Like Stone Foundation is incorporated as a Public Company Limited.

The Stand Like Stone Foundation is incorporated as a Public Company Limited. We are limited by Guarantee under the Corporations Act and therefore required to report to the Australian Securities and Investment Commission (ASIC) and the public about our activities.

Stand Like Stone is endorsed by the Australian Tax Office (ATO) as a Charitable Institution and is exempt from income tax and must ensure that our activities are charitable.

The public company, Stand Like Stone Foundation Ltd, is the trustee of the Public Ancillary Fund, the Open Fund, Educational Scholarship Fund and Community Charity Trust, where donations, gifts and bequests to Stand Like Stone are held. Each fund is established by a separate Trust Deed.

The trustees are responsible for investment decisions and ensuring income is distributed in line with the stated purposes in the trust deeds.  The trustee owes fiduciary duties under the various Trustee Acts and the common law. Stand Like Stone’s Public Ancillary Fund, Educational Scholarship Fund and Community Charity Trust have deductible gift recipient (DGR) status. These are the Funds to which tax-deductible donations can be given.

Stand Like Stone is committed to good corporate governance practice and principles.  The Constitution provides governance requirements and states that Stand Like Stone is not for profit and that its income will be applied to public charitable purposes.

The Board is responsible for ensuring that Stand Like Stone’s legal responsibilities are met.