Chairman's Report

For The Year Ended 30 June 2007

The Bennelong Foundation represents the philanthropic interests of the Bennelong Group. Since inception in 2002/03 Bennelong Foundation has made grants totaling approximately $2.6 million and I am very pleased to announce that in this last year ended 30 June 2007 just over $1 million in grants were made.

The corpus or capital base of Bennelong Foundation as at 30 June 2007 was $15.5 million. Federal Government approval has been granted to increase this capital base to $50 million over time.

The beneficiaries of these grants (some seventy in number) have been spread across our five areas of interest as follows:

Medical Research	28%
Community Health	19%
Migrant Community Welfare	13%
Crisis Support	23%
Youth	17%

In the 2006/07 financial year Bennelong Foundation made grants across a broad spectrum of communities and charities – including rural groups, indigenous Australians, kids and for migrant families and groups. In one instance the Foundation was able to make an important grant to the Royal Children’s Hospital to buy scarce medical equipment which was of benefit to the child of one of Bennelong’s valued employees as well as to a host of other similarly disadvantaged children.

The Bennelong Foundation is audited by Deloitte Touche Tohmatsu and is a fully compliant Prescribed Private Fund.
I would like to express my appreciation to our grant recipients for their dedication and hard work, to my fellow Directors and to the Advisers to the Board for their guidance, time and effort and to all those who work with and for the Bennelong Group for generating the growth and earnings to provide the funding base for the Foundation.

Jeff Chapman
Chairman