Watermark is pleased to announce the establishment of The 5% Foundation. The Directors of the Watermark Foundation will act as Trustee and a member of The 5% Foundation and provide a commitment to contribute 5% of all net surpluses derived from Watermark business operations.
The purpose of the Foundation will be to build a substantial nest egg capable of making a meaningful contribution to society in future years. Distributions will focus on educational and youth areas in support of people or groups in necessitous circumstances.
A further objective of the Foundation is to promote and encourage other businesses to become member organisations and contribute 5% of their profits to the Fund. The Foundation will remain independent with 100% of all donations going directly to its beneficiaries. All work carried out by Director’s, administrative, legal and accounting will be gratis.
After much work with the Australian Tax Office it has now granted endorsement to The 5% Foundation as a Deductible Gift Recipient. This means that all donations will be tax deductible.
Over the coming months Watermark will keep you updated on the progress of the Foundation and provide further details in the event you wish to directly support our new philanthropic venture. Any donations, no matter how big or small will be appreciated.
For donations please visit the Foundation’s website – 5percentfoundation.com.au