In a globally austere policy context, state financing of public services has been positioned as perennially "in crisis" with private intervention a positive solution. There is a general assumption -- in education policy and practice -- that philanthropic donations can be a solution to reduced public funding of schooling. While much research investigates the role of new philanthropy and venture capital in funding and influencing public schooling, this paper focuses on the reconstitution of "old" philanthropy in new ways. We focus on the role of parents, through Parent and Citizen (P&C) associations, to show how they are being responsibilised to fundraise for their child's public school, shifting from their traditional fundraising of small amounts of money through "community building" activities (e.g. fetes, stalls and trivia nights) to engaging in "commercial fundraising" (e.g. running the canteen, uniform shop and Outside House School Care for profit) that can raise hundreds and thousands of dollars each year. Through this analysis we argue we are seeing a further stratification of the public school system coupled with a concerning lack of transparency around the extent to which some public schools are being nourished by the deep coffers of successful P&Cs.