The Anglican Savings and Development Fund Anglican Diocese of Newcastle (ASDF) is a nonprofit organisation established in 1979 to support the charitable purposes of Newcastle Anglican. It functions as a financial vehicle to help fund various mission activities and ministries within the Anglican Diocese of Newcastle, Australia.

Purpose and Mission

The ASDF aims to provide a regular and consistent income stream to support the mission of Newcastle Anglican. It facilitates financial support for parish aid, youth work, education, chaplaincy provisions, ordination training, and the development of new ministries within the diocese. The fund also offers investment products designed to meet the operational and investment needs of individuals, parishes, and affiliated Anglican entities. A key goal is maintaining the fund’s health and sustainability while complying with regulatory requirements[1].

Activities and Impact

The fund supports the Anglican community through a variety of financial products including savings/cheque accounts, loans, and tailored investment options primarily designed for parishes, schools, and affiliated organisations. These products help these bodies manage their financial needs in alignment with the mission and charitable works of the diocese[1].

Each year, the ASDF contributes to the diocesan budget, providing financial resources that enable ongoing mission and charitable activities. The fund’s investments are intended to allow investors to actively support the charitable purposes of the Anglican community in Newcastle. However, as a religious charitable development fund (RCDF), it is not regulated like banks or finance companies and is subject to specific financial risks as outlined by Australian Securities and Investment Commission (ASIC) guidelines[1].

Governance

The ASDF is governed by the Board of the Newcastle Anglican Church Corporation. The Board oversees the fund’s management and ensures its alignment with the diocese’s objectives. The Bishop of Newcastle serves ex officio on the board, along with other appointed members who bring expertise in business and church administration. The governance structure is formalised under the Anglican Savings and Development Fund Diocese of Newcastle Ordinance 2012, which sets the legal foundation for the fund’s operation[3][5].

Charitable Status

Registered with the Australian Charities and Not-for-profits Commission (ACNC), the ASDF operates under the ABN 37901809074. It is recognised for its religious activities and contributes significantly to the mission work of the Anglican Diocese of Newcastle. The fund’s status as a charitable entity underlines its commitment to supporting ministry, education, and community services within the diocese[2][4].

In summary, the Anglican Savings and Development Fund Anglican Diocese of Newcastle is a key financial institution within Newcastle Anglican, delivering investment and financial services to support the church’s mission and charitable initiatives since 1979. It operates with a focus on sustainability, regulatory compliance, and effective stewardship of resources to aid the growth and outreach of the Anglican community.

[1] https://www.newcastleanglican.org.au/ministries/anglican-savings-and-development-fund/ [2] https://www.acnc.gov.au/charity/charities/ab7e43db-39af-e811-a960-000d3ad24282/profile [3] https://newcastleanglican.org.au/wp-content/uploads/2018/03/Anglican-Savings-and-Development-Fund-Report-2016.pdf [4] https://www.acnc.gov.au/charity/charities/ab7e43db-39af-e811-a960-000d3ad24282/documents/318937bc-46c8-e811-a962-000d3ad24182 [5] https://acncpubfilesprodstorage.blob.core.windows.net/public/ab7e43db-39af-e811-a960-000d3ad24282-b5489517-0187-4a1e-ac38-407622b08416-Governing%20Document-53360c88-2a73-ec11-8942-000d3ad21de8-ASDF_Governing_Documents.pdf