OBJECTIVE OF THE FUND

1. During the life of Father Deane, to promote his physical, mental, psychological well being by providing emotional and financial  support

2. Upon his death to establish a scholarship in Father's name for outstanding students studying at St. Louis School, Hong  Kong.

THE STRUCTURE

The Trust

Name of Trust

Father Deane Foundation Fund Trust

Nominators

Mr. Anthony Liu   
Dr. Ben Lau 
Mr. Tony Wong 
Dr. Bernard Yim   
Mr. Alex Wong

Settlor

Mr. Ross N Arkinstall

The Trustee (who manages the Fund)

Name of Trustee:

Father Deane Foundation Fund Pty Ltd

Directors

Mr. Anthony Liu 
Mr. Tony Wong 
Dr. Bernard Yim 
Mr. Alex Wong   
Mr. Peter Cheung  
Mr. Felix Chiu
Ms. Theresa Lee

Activities

• Non-profit making
• Solely acts as the trustee of the trust fund
• Subject to the regulation of the trust law of the Commonwealth of Australia
• Accounts subject to annual audit by external auditors
• Solicits and accepts donations
• Holds the income of the Trust Fund for payment for the sole benefit of Father
• No distribution of income and capital among members
• No payment of salary, remuneration, fees and benefits in money or in kind to directors and officers
  
   

THE MECHANISM

1. Fund raising

An initial funding of $5,000 has been raised from old boys in Sydney.  Appeals to old boys in Hong Kong, Canada and Australia have been made.

2. Holding and investment of funds

Funds received are deposited into an account with HSBC Australia Ltd for interest earning.  An operating account is opened at Bank of Ireland, Dublin to channel funds to be applied towards the benefit of Father. This account is handled in Dublin by Chris and Bosco Keown, long time personal friends of Father Deane.  They visit Father regularly every week and provided updated information on Father's conditions through their correspondences.

3. Payment for the sole benefit of Father

Theresa Lee, one of the Trustee’s directors, visited Father regularly 3-4 times a year from Sydney on her own expenses.  She co-ordinates the personal care provided by the carer(s) and liaise with the nursing home on matters relating to Father’s wellbeing. 

APPLICATION OF FUNDS SINCE ESTABLISHMENT

Report on how the fund raised so far has been applied.