The 7th Day of Christmas

Squirrel away

Many years ago, Philanthropy Australia CEO and mother of three Sarah Davies was pondering how she and her family could give back in a way that would have a lasting impact. They decided to open a gumnut account. Every year, around Christmas, each family member adds up the amount of money they would spend on gifts and puts half of it into the account, which is professionally managed by the Australian Communities Foundation. The money is invested and now, 10 years on, the family has a sub-fund which they can use to make grants to causes and charities they are passionate about. Once a year they sit down together and discuss what they want do to with the money. “It’s a bit like a philanthropic savings account,” Sarah says. “You actually do then not only change your life, but change other people’s lives significantly.”