The design of charitable fund-raising schemes: matching grants or seed money

For a fixed large donation a matching scheme that simply uses a one-for-one match ratio can actually raise less money than a seed money scheme. But when the match ratio is chosen to reflect the characteristics of the small donor base so as to exhaust the large donor's willingness to give, matching schemes always raise more money and are preferred by both charities and large donors. However, when the large donor chooses the size of her donation, a conflict can arise. The large donor can prefer a smaller leadership gift and more reliance on small donor matching while the charity can prefer seed money.

What determines Australia's response to emergency and natural disasters

This article examines the determinants of Australia's response to emergencies and natural disasters. It examines the response from the Australian public by examining contributions made to the appeals of the country's largest Non-Governmental Organisation: World Vision of Australia. It also examines the response of the Australian Government. The data include 43 emergencies and natural disasters since 1998. Results suggest that the responses from both the public and government are positively associated with the number of people affected, media coverage, and the level of political and civil freedom in the country where the event occurred. The type and location of the emergency or disaster are important for the public's response. Differences between public and government donations exist: support from the Australian Government is positively associated with smaller countries and there is some evidence that the public donates more to events occurring in larger and poorer countries.

Mental health service delivery : a profile of mental health non-government organisations in south-east Queensland, Australia.

Non-government organisations make a substantial contribution to the provision of mental health services; despite this, there has been little research and evaluation targeted at understanding the role played by these services within the community mental health sector. The aim of the present study was to examine the depth and breadth of services offered by these organisations in south-east Queensland, Australia, across five key aspects of reach and delivery.

The costs of raising equity capital for closed-end fund IPOs

This article reports on some of the direct costs of raising equity capital by closed-end fund licensed investment company (LIC) initial public offerings (IPOs) in Australia from 1995 to 2005. The amount of underpricing by these IPOs is also identified. The average total direct costs amounted to a relatively low 3.4% of the capital raised, while fees paid to underwriters and/or stockbrokers was around 2.3%, to legal firms around 0.25% and to accounting firms around 0.07%. The average underpricing by these LIC IPOs was 1.3%. This article also confirms that the percentage total direct capital raising costs are inversely related to the size of the IPO and underwritten closed-end fund IPOs tend to have higher percentage total capital raising costs than those not underwritten.

An analysis of the antecedents of satisfaction for superannuation fund members

The factors influencing the satisfaction of superannuation fund members are poorly understood at present, due to a paucity of research. This study looks at the relative influence that five key aspects of the offering of a mid-size Australian Superannuation Fund have on overall satisfaction. Despite the long-term nature of the product and efforts to educate members to think otherwise, short-term financial performance remains a strong influence on member satisfaction. With financial returns varying annually and to a large degree being out of the control of fund managers, the focus on this aspect as the main influence on satisfaction levels is problematic. The evidence suggests that shifting the focus of members towards longer period assessments (eg returns over the past five years) and towards aspects of the funds' offering that are points of differentiation (eg enquiry handling) is the only way to prevent large fluctuations in satisfaction levels and possible defections.

The costs of raising equity capital by Australian property trust initial public offerings

This paper reports some of the direct costs of raising equity capital by property trust initial public offerings (IPOs) in Australia from 1994 to 2004. It also documents the amount of underpricing by these IPOs. The results indicate the average fees paid to underwriters and/or stockbrokers in managing and marketing the issue was around 3.3% of the public equity capital raised. The average fees paid to legal firms, accounting firms and valuers for their professional involvement and expert reports were 0.4%, 0.2% and 0.1% respectively, totaling 0.7% of the equity raised. Other fees such as printing, listing fees, postage, distribution and advertising cost around 2.1%. The total average direct costs amounted to around 6.1% of the proceeds raised. The average underpricing by these property trust IPOs was 2.6%. This paper also investigates the hypotheses that the percentage direct capital raising costs are influenced by the size of the IPO and whether the IPO is underwritten. This study confirms that larger property trust equity capital raisings have lower percentage total direct cost;, however, it does not find that underwriting significantly influences the percentage of total direct costs for these property trust IPOs.

Polyparents having children, raising children, schooling children

Through the use of both quantitative and qualitative data from Australian and US research, this paper is an initial exploration of polyamorous parenting, particularly in relation to schooling and negotiating the implications of heteronormative monogamy on their children's lives. The paper calls for more research and support of polyamorous families as these families are still largely invisible and falling 'between the cracks' of heteronormative monogamous nuclear families and the increasingly visible lesbian and gay families.

Raising the funds - spending the funds: a case study of the effectiveness of both roles of NGO's

Non-governmental organisations (NGOs) must be effective in both raising funds and using these funds to implement programs in order to improve the circumstances of the poor. This chapter presents a case study of World Vision Australia's (WVA) fundraising and programming responses to the Asian Tsunami. The initial stages of the fundraising campaign were largely unplanned and reactive. Yet WVA received over $110 million for its tsunami appeal in just a little over three months. This is incomparable with other recent large-scale disaster fundraising campaigns. The experiences of how the initial phases of the response were implemented arc gauged through a qualitative analysis of interviews conducted with twenty-one staff members who completed short-term secondments during the initial tsunami response. These interviews extract a number of reflections of WVA's programming and provide a number of lessons for WVA for future complex humanitarian emergencies. This chapter thus reviews the effectiveness of both roles of NGOs - raising funds and expending these funds to implement programs.

Evaluating the impact of financial literacy programs on the retirement savings of superannuation fund members

Currently, in Australia, the age pension, paid for out of Commonwealth government taxes, forms the basis of Australia’s retirement income system, however, given the reality of an ageing population has compelled the government to undertake a number of measures to shift the responsibility for saving to the individual, forcing them to accept an increasing level of responsibility for their financial decision-making. In the light of the changing retirement environment, it would be expected that Australians’ would ensure that they became financially literate, however, despite the amount of information and advice available in the market place, this is not the case, and they do not appear to be appropriately prepared for their retirement. Recognising the importance of financial literacy, an increasing number of government agencies, employers, superannuation funds and schools are implementing financial literacy programs in Australia. This article provides an overview of the impact that attending a financial education seminar has on the retirement decisions and settings of participants. Evidence is provided from this research that in the short term, providing financial education programs make a difference to an individual’s intended retirement settings. However, the impact of these education programs in changing investment behaviour is less conclusive.

Costs of raising equity capital by renounceable rights issues in Australia

Rights issues remain a common method for raising equity capital in Australia for companies listed on me Australian Stock Exchange. This study investigates the capital raising costs of Anstralian renounceable equity rights issues from 2001 to 2006. Both direct and indirect costs are investigated and the explanatory power of potential influencing factors is analyzed. The total direct costs averaged nearly 4% of gross proceeds raised and the mean offer price was discounted around 17% from the current market price. Issue size, percentage underwritten, concentration of ownership and issuer risk significantly influence the percentage direct costs of the rights issue. The age of the issuer, the average historical volume of shares traded and the offer price appear to influence the percentage discount.