What is the difference between GAC and GIPL?
Gumala Investments Pty Ltd (GIPL) is The Trustee of The General Gumala Foundation (GGF).
Gumala Aboriginal Corporation (GAC) is The Manager of the GGF.
These are two separate legal entities and they have different responsibilities. GAC’s role is to develop projects and programs that meet the needs of the Gumala Members and to submit requests for funding of those projects and programs to GIPL.
GIPL is responsible for considering those proposals, approving where appropriate, and properly managing the finances of the Foundation and its investments as a whole. It is responsible generally for the supervision, direction and control of GAC.
What is the GGF Trust Deed?
The GGF Trust Deed is a legal document created in 1997 between Gumala Aboriginal Corporation, Gumala Investments Pty Ltd and the Traditional Owners of the three language groups.
The GIPL Board has very clear duties under the Trust Deed. This Deed outlines the significant powers of The Trustee, which is to act as the GGF’s financial guardians to ensure the money is spent properly, and in accordance with the terms of the Trust Deed.
How does the law help?
The GGF is recognised as a Public Benevolent Institution (PBI), often referred to as a ‘not-for-profit’ organisation. As such, the Foundation is not taxed on its income and investments. This means far more money than otherwise is available for Beneficiaries. But it also means the Trust Deed has to be observed and upheld; otherwise this extremely helpful tax concession could be lost.
How do Beneficiaries receive funds from the Foundation?
Under the terms of the Trust Deed, the Foundation has primary objectives to relieve poverty, distress and hardship. Those objectives are met through projects and programs set out under specific Income Utilisation Categories (IUCs) against which funds can be distributed. These include investments, education and training, business development, community development, cultural purposes, health and wellbeing. For a breakdown of the IUCs, click here.
How do you decide what programs to fund?
GAC is responsible for researching and developing appropriate programs and submitting full details of these proposals to GIPL for consideration of funding. When submitting those proposals, consideration is given to areas such as the cost-benefit return, empowerment of Beneficiaries and the number of Beneficiaries that stand to benefit. To view GAC’s Member Program Guidelines for 2018-19, click here.
Where does the money come from?
The Yandi Land Use Agreement signed in 1997 by Hamersley Iron Pty Ltd (now owned by Rio Tinto) enables mining activity on Traditional Land in exchange for compensation paid to the Traditional Owners. The money paid to the Foundation is compensation for damage and disturbance to country caused by the mine and the amount paid is directly linked to how much of that land is disturbed.
Is the Gumala Foundation a registered charity?
Yes. The Gumala Foundation is recognised as a Public Benevolent Institution (PBI), often referred to as a not-for-profit (NFP) organisation. A PBI is a charity whose main purpose is to relieve poverty, sickness, suffering or disability. For a Charity Fact Sheet on the Gumala Foundation, click here.