The FPA's charitable foundation, Future2, has increased its grant commitment to $110,000 for 2015, up from the $70,000 it offered last year.
In a statement issued by the charitable organisation, Future2 said increasing the level of funding it offers will enable seven new grants to be awarded as well as continued funding of the four three-year grants committed to in 2014.
Future2 also announced that applications for grants are open from today, with the organisation inviting community not-for-profit charities that are working to offer a better future to young Australians to apply.
“Each application for funding must have the endorsement of a local [FPA] member who believes the project being proposed is deserving of a grant,” the statement said.
“The financial planner may be someone who is already involved with the grant applicant through mentoring or in some other voluntary capacity.
“The initial review is undertaken by FPA regional chapters. Each region will put forward a shortlist for consideration by the Future2 Grants Committee,” it said.
Future2 Grant Committee chair Corinna Dieters said the FPA regional chapters played an important role in the grant shortlisting process in 2014.
“With 90 applications last year, the regional review process helped to create a stronger connection between financial planners and Future2,” Ms Dieters said.
“It also built on their knowledge of local needs and the work of grassroots organisations”, she added.
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