Trust Company Takeover Means Less for NFPs | Pro Bono Australia: he outcome of this corporate takeover is of vital importance to the sector as trustee companies are the largest administrators of philanthropic monies in Australia. These monies were left by generous (dead) individuals and families on the understanding that the trust/foundation would be maintained in perpetuity for the benefit of the most disadvantaged in the community. The founders are no longer there to advocate and most have no independent (i.e. Non-trustee Company) trustees to challenge any decisions.
Today, trustee companies manage “over 2,000(sic)” charitable trusts and foundations with assets of approximately $3.2 billion.
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