Foundation
Chairman's report
For the year ended 30 June 2011
In addition to continued global economic uncertainty, the 2011 financial year was punctuated with natural disasters both in Australia and abroad. On a domestic level, Queensland was devastated by cyclones and floods resulting in three quarters of the state being declared a disaster zone. Although not as prominent, rural Victoria also suffered from debilitating floods and their after effects.
More devastating were the floods in Pakistan which affected an estimated 20 million people in July 2010. And who could forget the images from Christchurch and Japan as a result of earthquakes and tsunami.
The response from the Australian public for both domestic and foreign assistance was strong and immediate but on a sustained basis, do we give enough?
During the year, Philanthropy Australia was engaged by the Commonwealth Department of Families, Housing, Community Services and Indigenous Affairs to explore ways to encourage giving among Australia's high and ultra high net worth individuals.
The report highlighted that the level of giving by the high and ultra high net worth individuals and families in Australia is below that of their peers in other countries despite increasing wealth and access to a range of tax structures and incentives.
The report states that there is hesitancy on the part of many in Australia to promote their philanthropic activities which in turn help cultivate a stronger and more constant culture of giving.
Keeping our giving private had also been the approach taken by the Bennelong Foundation in years past. But over the last few years, the Foundation has taken a more active approach to its philanthropy and sought to share its experiences and activities with a wider audience.
To that end, I am pleased to present the Bennelong Foundation Report for 2011.
Twenty new grants were approved during the 2011 year and although the total dollar sum of the contributions was slightly down year on year, it does not take into account or measure the positive and increasing input given to various organizations as a result of the in kind support provided by the employees of the Bennelong Group throughout the year.
It had been five years since we had reviewed our areas of focus and as a result they were expanded during the year to include:
- Education – to support organizations that offer innovative programmes that encourage people to take advantage of learning, training and education opportunities in order to further lasting employment prospects
- International Aid and Assistance - to support causes, particularly in the Asian region and in countries where the Bennelong Group is represented, where significant and lasting health, education or employment benefits can be gained with relatively limited resources.
The Bennelong Foundation Youth Committee increased its membership during the 2011 financial year and now includes representatives from all Australian based business units including our Sydney office. Their contribution was significant throughout the 2011 financial year with a continued focus on ‘grass roots’ organizations.
We were pleased to continue our support of the Mirabel Foundation as part of our ‘Make a Difference Day’ activities and in 2011 our staff enjoyed visiting the Collingwood Children’s Farm in support of the South Melbourne Mission Kindergarten.
Over the last twelve months we have spent more time with our grant recipients and have been able to witness first hand their dedication to their respective causes. To the thirty organizations which received funding from the Bennelong Foundation during the 2011 financial year, I wish to express my appreciation for your tireless efforts and contributions to the community.
I would also like to recognize my fellow Directors, Advisors to the Board, Youth Committee members, Susan Frances and Phil Henty for their contribution throughout the 2011 financial year.
Finally, I would like to thank the wider Bennelong Group and its employees, not only for generating growth and earnings which continue to provide the funding base for the Foundation, but also for their time and in kind support which is captured throughout the Bennelong Foundation 2011 Report.
Jeff Chapman
Chairman