Australia is a nation of investors. In fact, nearly half of the entire Australian population owns shares in some form.
Many of these share parcels, however, are too small to be easily traded or used for any useful purpose - and that's where ShareGift Australia comes in.
ShareGift Australia can help people put their small parcels of shares to good use by converting them into donations for good causes in Australia.
The organisation is modeled on the UK's Sharegift, which has generated many millions of pounds in donations for more than 1000 UK organisations since it was formed in 1996.
In Australia, it is estimated that around $80 million is currently held in 'less than marketable' parcels of shares - i.e. those with a total value of less than $500.
ShareGift Australia has been formed to unleash the potential of those funds by providing an easy and tax-deductible way to dispose of those shares.
Once a shareholder has completed a share sale donation form, ShareGift Australia will sell those shares and distribute the cash proceeds to eligible Australian organisations.
The transaction is free of brokerage fees - meaning 100% of the value of the share donation will be used to generate social returns for the community.
All shares held in Australian publicly listed companies may be donated (even big parcels!), and dividend gifting can also be arranged.
Donors are invited to recommend organisations to receive donations, however there are eligibility restrictions in place, and the final decision will be made by the Board of ShareGift Australia.
To find out more about how you can donate your shares to help a good cause, visit ShareGift Australia.