Environmental Trust Now Active
Sunday, 29 March, 2009
The Water Resources Management (WaRM) Trust was approved by the Minister for the Environment and registered as a Deductible Gift Recipient Trust over the final months of 2008, and became fully active in January 2009, when the initial donation was made to the associated Water Training, Education and Research (WaTER) Fund.
This is an important milestone in the transition of ICE WaRM into sustainable operations at the conclusion of the founding agreement with the Australian Government. The objectives of the WaRM Trust provide for ongoing provision of the support mechanisms envisaged in the founding agreements, including scholarships, fellowships, visits and exchanges, and related education services.
ICE WaRM now has two distinct operating vehicles:
- WaterEd Australia Pty Ltd for activities undertaken on a full-cost-recovery basis, and
- the WaRM Trust for activities serving wider “public good” functions with no business basis, similar to foundations and registered charities.
The clear separation of modes of operation offers advantages to all parties – partners, clients, funding agencies, suppliers, staff and students – and raises the prospects for the long-term sustainability of ICE WaRM activities.
The ICE WaRM team is excited by the additional possibilities opened up through the WaRM Trust.
As a registered DGR Trust, one of the undertakings of the WaRM Trust is to seek donations from the wider community of interest. Any donations made to the Trust would be eligible as a deduction for tax purposes.