$3.4 Billion Bequest Breaks Records
One of Australia’s richest men passed away last week leaving a philanthropic bequest of more than $3 billion to his personal foundation.
.The bequest provided by healthcare and media entrepreneur Paul Joseph Ramsay AO is one of the largest in Australian history. The Paul Ramsey Foundation could now distribute as much as $50 million a year, making it one of the most wealthy and sustainable philanthropic bodies in the country.
While it has not yet been revealed what causes will benefit from Mr Ramsey’s unprecedented gift, the entire not for profit sector has something to gain. The publicity generated by the sheer magnitude of the bequest, will undoubtedly start new conversations about the issue of bequests among both askers and givers.
Mr Ramsey’s gift is an inspiring act of generosity and a shining example of how a bequest
can create an important legacy embodying a life’s work. It is also a timely reminder for organisations in the not for profit and education sectors of the incredible opportunities a bequest program can create.
In the light of this news, we know that many organisations will be reviewing the status of their bequest programs. Whether you are looking to establish a new program, take a more active approach to bequests or get more out of your existing program, OKP can assist you. We are experts in developing bequest program strategies that won’t make you feel that you are playing the lottery.
For an obligation-free chat about how bequests could help secure the financial future of your organisation, please call 1300 721 199 or email firstname.lastname@example.org