2013 Annual Report
A Giving Australia 02 Corporate Information
Philanthropy Australia Inc. Patrons Email: [email protected] Sir Gustav Nossal AC CBE Website: www.philanthropy.org.au Lady Southey AC
ABN Council 79 578 875 531 President Incorporated Associated No Mr Bruce Bonyhady A0014980T (until December 2013)
Melbourne Vice President Level 2, 55 Collins Street Ms Dur-e Dara OAM Melbourne 3000 Tel: (61 3) 9662 9299 Treasurer Fax: (61 3) 9622 2655 Mr David Ward
Sydney Chief Executive Officer Ms Louise Walsh 120B Underwood Street Paddington 2021 Council Members Tel: (61 2) 9326 9200 Mr Paul Clitheroe AM Fax: (61 2) 9380 7700 Mr Timothy Fairfax AM Brisbane Ms Ann Johnson Suite 7E, Level 7 Mr Rob McLean AM 344 Queen Street Dr Noel Purcell Brisbane 4000 Ms Janet Hirst (from April 2013) Adelaide Ms Genevieve Timmons (from April 2013) Suite 912, Level 9 147 Pirie Street Mr Christopher Thorn (until April 2013) Adelaide 5000 Philanthropy Australia - 2013 Annual Report 3
Staff Marketing & Communications Finance Executive Marketing Manager Accountant CEO Dianne Jickell (from June) Edwin Eng (consultant until December) Louise Walsh Digital Manager Accounts Manager Deputy CEO Joanna Fulton (until September) Cheryl O’Kelly Anna Draffin Technology Upgrade Project Manager Casuals Membership Services Pete Gaull (consultant from September) Stacey Moss (July to August) Kit Casey (September to December) NSW & ACT Manager Media Coordinator Sarah Jarman (September) Louise Burton Mary Borsellino
Membership Services (NSW) Digital Coordinator Annie Scoufis Matthew Romania (from October)
Queensland Manager Partnerships Fiona Maxwell Partnerships Manager (until April; from September) Katy Tyrrell Mitchell Witherington (maternity leave Professional Development & Learning replacement March to October) Professional Development Manager SA & WA Manager Rikki Andrews (until July) Alison Beare (until August) Events Coordinator Julia Steele Scott (from November) Emilie O’Malley (from August) Policy & Research Victoria & Tasmania Manager Policy & Research Manager Bruce Argyle (until October) Vanessa Meachen (until July) Louise Doyle (Acting from November) Trudy Wyse and Marion Webster Membership Services (Victoria) (consultants from September) Patricia Burke (from August)
New Generation of Giving Manager Caroline Vu Philanthropy Australia leads an innovative, growing, influential and high performing philanthropic sector in Australia. A Giving Australia Philanthropy Australia - 2013 Annual Report 5
05 Contents
7 Statement of Purpose
8 Strategic Plan
10 President and Chief Executive Officer Report
12 Highlights 2013
12 Membership
17 Council Members
22 Council Members’ Report
23 Members of Philanthropy Australia
29 Acknowledgements
Financial Statements
33 Statement of Profit or Loss and Other Comprehensive Income
34 Statement of Financial Position
35 Statement of Changes in Equity
36 Statement of Cash Flows
37 Notes to the Financial Statements
44 Council Members’ Declaration
45 Independent Audit Report
47 Certificate by Members of Council Philanthropy Australia is the national peak body for philanthropy and is a not-for-profit membership organisation. Our Members are trusts and foundations, organisations, families and individuals who want to make a difference through their own philanthropy and to encourage others to give. Our vision is for a more giving Australia, and our mission is to represent, grow and inspire an effective and robust philanthropic sector for the community. 07 Statement of Purpose
Philanthropy Australia defines Philanthropy Australia: 4 A national bi-annual Conference, philanthropy as the planned and • Represents the philanthropic sector featuring international keynotes and structured giving of money, time, master classes • Promotes the contribution of information, goods and services, voice philanthropy by growing the 5 Advocacy and representation on and influence to improve the wellbeing understanding of the community, behalf of members and the wider of humanity and the community. business and government philanthropic sector to Federal and State Governments We define the philanthropic sector • Inspires and supports new as trusts, foundations, organisations, philanthropists 6 Expert information resources and families and individuals who engage in services including a series of trustee • Increases the effectiveness of philanthropy. handbooks philanthropy through the provision Philanthropy Australia’s role is to of information, professional 7 Policy services and alerts, to support the philanthropic endeavour development, resources and Members concerning legislative of our Members. networking opportunities review and changes that may impact giving • Promotes strong and transparent governance standards in the 8 Information services to individuals, philanthropic sector families and corporations preparing to establish charitable trusts or We also provide information to those foundations seeking to understand, access or 9 New Generation of Giving program partner with the philanthropic sector. for philanthropists 40 years and The organisation works Australia-wide, under (conditions apply) with offices in Melbourne, Sydney, 10 New website launched in late 2013 Adelaide and Brisbane. forming an information hub for Membership fees, professional philanthropy in Australia development and learning fees, 11 Philanthropy Review, our monthly services fee and partnerships all enews covering philanthropic sector contribute to funding Philanthropy 12 PRESSing Matters, a weekly media Australia. monitoring service for news in Our services include: philanthropy 1 National Affinity Groups to exchange 13 Marketing and Communications information and build co-funding including our new website. opportunities for cause-related funders 2 An annual thought leadership program including national and international speakers on key areas of interest 3 A Professional Development and Learning program, including workshops, seminars and forums 08 Strategic Plan 2012-2015
1. Lead • Work with service providers to grow • Build the capacity of Philanthropy • Be the leader and principal representative of a vibrant philanthropy and its effectiveness Australia philanthropic community • Work with grant-seeker • Retain strong relationships with • Pro-actively contribute to cutting-edge thinking, organisations who are Associates, as and support for Members, while discussions and practice they are a unique strength confirming Philanthropy Australia’s • Celebrate the impact and successes purpose as being for public benefit Strategies / Activities of philanthropy to inspire others • Obtain DGR status and consider • Proactively make representations to government and to give by telling the stories of review and updating of the the Australian Charities and Not-for-Profits Commission philanthropy, including through Constitution because of blurring of (ACNC) new media membership categories • Monitor legislative and policy developments on behalf • Foster a richer public discussion • Increase and also diversify revenue of the sector and respond as the peak body. Take a of giving, philanthropy and social streams from Member fees to leadership role in the sector to inspire giving, drive investment include more donations, more innovation, leverage cross-sectoral support, increase fees for value-added services, new philanthropy’s influence and build wider recognition of 3. Strengthen subscriptions and more programs the unique role of philanthropy in a modern society • Maximise the philanthropic sector’s such as professional development, • Facilitate collaborative efforts in philanthropy effectiveness and impact events, and conferences • Commission, write and publish research and commentary • Increase Philanthropy Australia’s • Develop new propositions for on philanthropy, and engage high-level critical and effectiveness and resources segments is not well represented in analytical thinkers to enrich commentary the current membership, including • Encourage and practise effective and high-net-worth and ultra-high-net- • Create programs to offer development opportunities to transparent governance emerging leaders and for thought leadership worth individuals and families in their Strategies / Activities • Support the Lead activities through a new communications foundations strategy, including clearer branding and proactive media • Build capacity in the philanthropic • Review the rebranding of engagement sector Philanthropy Australia to make it • Educate the sector by providing more relevant 2. Grow guides, tools, and seminars • Develop a stronger IT and social • Inspire a larger and stronger philanthropic sector • Provide guidelines and standards for media platform • Encourage all Australians to increase their giving best practice • Strengthen communications, media and philanthropy • Monitor and disseminate national and marketing skills and international trends and Strategies / Activities • Strengthen national footprint developments to inform the sector • Grow philanthropy • Implement Council succession • Add to national and international • Develop the concept of A Giving Australia to embrace planning, with Council to play a conversations and discussions segments uncomfortable with the term philanthropy stronger role in change program • Facilitate professional networking and review staff skills. • Embrace the knowledge capital of Members and and sharing events sector leaders • Establish a pool of philanthropists, trustees, CEOs and senior researchers and advisors working in the sector to be available to talk to the media about philanthropy • Act as a catalyst for growth in philanthropy Philanthropy Australia - 2013 Annual Report 9
During 2013, we have continued the roll out of Philanthropy Australia’s Strategic Plan 2012 – 2014 “A More Giving Australia”. Council has recently approved the extension of this plan for another twelve months (2012-15) as the first year of implementation was delayed with the executive transition. This approach will ensure we capture three full years of operating results to inform the development of the next strategic plan. The development of the 2016-2018 next strategic plan will commence in early 2015. 010 President and Chief Executive Officer Report
During the past 12 months, Philanthropy Australia has taken Another defining moment was the considerable steps in implementing our Strategic Plan, of confirmation of our Deductible Gift which the most significant aspect is to become the national Recipient Status (DGR) led by Bruce organisation for philanthropy. Bonyhady and Council, after many years of effort. While proposed under Our offerings to our membership have now been deepened the former Government, the application and in some cases, updated. We have had the benefit of a was supported by all political parties new management team looking afresh at what we do, and we and demonstrated a high regard for are pleased to hear Members report that they see dynamism Philanthropy Australia. We would like to and high energy in the way we go about our work to advance place on record our formal thanks and philanthropy in Australia. gratitude to the Australian Parliament There were many highlights to this busy year, however, it for this endorsement. is important to start at the bookend of the year with the The past year has also been a period resignation of Bruce Bonyhady AM after seven years as of significant growth for Philanthropy President. Bruce joined Philanthropy Australia’s Council in Australia in programs and initiatives to 2006, becoming President in 2007. He served our membership address membership and sector needs. and Council with great distinction and was a driving force behind the rejuvenation of the organisation. Bruce took the Queensland and South Australia: decision to resign because he felt he was unable to fulfil both Philanthropy Australia adopted a more this role and his new role as the inaugural Chairman of the national and diversified operating model National Disability Insurance Scheme. Disability insurance, an with the establishment of new offices idea the nation has embraced, has been one of Bruce’s driving in Brisbane and Adelaide, both of which passions. Bruce now has the responsibility for the governance had early successes. This initiative and implementation of the Scheme, a challenge in which we has allowed Philanthropy Australia to wish him every success. The hundreds of thousands of people service and encourage philanthropy in with disability, their families and their carers will all benefit many more parts of Australia. greatly from his wisdom, leadership and work ethic. We thank him for his enormous contribution to Philanthropy Australia. Philanthropy Australia - 2013 Annual Report 11
Partnerships Program: Impact Investing program: Associates, subscribers and the general public with more sophisticated and accessible information, tools and The Partnerships Program successfully Philanthropy Australia’s activities resources. enabled Philanthropy Australia to in this emerging field centred on diversify income streams as part of a thought leadership and professional 2013 was also a year of people within the organisation. commitment to greater sustainability development. As such, we developed At a Council level in addition to Bruce Bonyhady’s departure, beyond membership revenue, and a series of new Impact Investing 101 Christopher Thorn resigned after many years of service. as a commitment to introducing new workshops as an introductory concept, Our thanks to Chris for his part in our growth. In their stead, program initiatives and a national reach. we partnered on the launch of the we were delighted to welcome Janet Hirst and Genevieve Securing DGR status was a critical Impact Australia Report and we worked Timmons, who both added expertise, passion, vision and factor in this success. closely with individual members to help practical knowledge of philanthropy to Council. them navigate this area. Membership growth: Philanthropy Australia also bid farewell to a number of New Generation of Giving Program: Our membership base grew in both size staff, including Vanessa Meachen, Rikki Andrews, Joanna and diversity from a total of 477 in 2012 This offering for young philanthropists Fulton and Bruce Argyle. They have all made extraordinary to 715 in December 2013. was another key initiative, with 153 contributions to make the organisation what it is today, and joining in the first 12 months. A selection we wish them the very best in their future work. On behalf of Private Ancillary Funds of this group formed our inaugural Council and our membership, we also wish to acknowledge representation: field trip to San Francisco and Seattle, the hard work and dedication of all our staff who have made Philanthropy Australia had lagged in followed by an Australia-wide roadshow such a landmark year possible. terms of the representation of Private of presentations to share their learnings Philanthropy is increasingly a broad church from established Ancillary Funds (PAFs) in our and observations from the trip. trusts and foundations, corporate foundations, family giving membership, which for a decade Co-funding: and community foundations to emerging work in impact has been Australia’s fastest growing investing, New Gen-ners and crowd funding. Council is segment of philanthropy. This gap Another significant new development confident that Philanthropy Australia has taken significant was identified in the 2012-2014 for Members was the introduction of steps towards becoming a more national and a more Strategic Plan as an area to be urgently facilitation of co-funding opportunities. diverse organisation reflective of this ‘church’ in the past addressed. A special 12 month offer for This is part of a constant search for year, especially through our dramatically improved national PAFs was introduced in 2013 and PAFs potential avenues through which footprint and our increased scale and diversity are now the most common type we can help to grow and encourage of membership. of structure in our membership base. philanthropic giving throughout the country. It is also an area that Members From a strategic perspective after careful consideration, consistently rank high in terms of value Council has decided to extend the current Strategic Plan to Philanthropy Australia can bring to them. the end of 2015, to build on the successes of 2013, to allow a number of strategies which commenced in 2013 to continue, Philanthropy Australia’s marketing and to enable others to be refined and improved. and communication capabilities and activities have also been significantly A new President will also be appointed in the period strengthened. Our media profile ahead, adding skills on Council consistent with a national increased significantly, positioning organisation, and one that gives voice to the diversity of Philanthropy Australia as an expressions of philanthropy we are now seeing in Australia. authoritative voice for comment or We are excited about the future to come, and of finding new key statistics to each breaking story ways to build a more giving Australia with you. concerning the sector. Our brand was refreshed, and our website and technology infrastructure underwent a major upgrade, providing Members, 012 2013 Highlights 42% Victoria
5% South Australia
Membership growth and changes by State Members Full The year 2013 saw a substantial growth in Philanthropy Australia’s Members 5% Other and Associates, as a strategic drive was undertaken to increase membership across Australia. 5% Queensland The increase in membership was aided by the opening of two new offices and additional, dedicated 43% New South Wales membership service staff located nationally, particularly in Brisbane and Adelaide. The local presence for Members was a major benefit and allowed for the development of a one-on-one relationship. Also it demonstrates to the community our strong commitment to providing local services and resources tailor-made to the environment. 45% New South Wales New programs for young philanthropists and private ancillary funds, and engagement with the advisory sector also accounted for growth across membership categories. by State Associates 3% Australian Capital Territory Our membership overall reached 715 Members and Associates combined 3% Other as at 31 December 2013 up from 477 in 2012.
Key performance measures 5% Queensland
Members 2013 2012
Number of new Members 326 15
Number of continuing 389 449 Victoria 34% Members
South Australia 6% Philanthropy Australia - 2013 Annual Report 13
Legislation, policy and governance 2013 saw the passage of Australia’s Both the CRM system and new website ran parallel as part first comprehensive statutory definition of an integrated technology upgrade involving staff and 2013 was another busy year for the of charity, the Charities Act 2013. member input – as well as collaboration with technology not-for-profit sector in new legislation Philanthropy Australia was strongly partners. Our particular thanks to the funders including and policy initiatives. Sector wide supportive of this important and long Paul Wheelton OAM as well as Disegno, our in-kind design reform and consultation continued, awaited piece of legislation, which and website partner. Philanthropy Australia’s important commenced on 1 January 2014. contribution was recognised when The initiation of these new front and back end technologies it obtained deductible gift recipient Philanthropy Australia was also actively marked stages one and two of a three-stage process to status, and a new Federal Government engaged in the consultation process improve our offering to and servicing of our membership and was elected in September 2013, for the Corporations and Markets the broader community. signalling a different approach to Advisory Committee (CAMAC) review of The website upgrade is an integral part of the project as it sector policy. the administration of charitable trusts, provides an entry point for Members and other stakeholders advocating the principle that all fees Established in December 2012, the to access key industry information, tools and resources. charged on Charitable Trusts should Australian Charities and Not-for-profits We now have best-practice information architecture be fair and reasonable. CAMAC’s final Commission (ACNC) completed its and functionality to enable rich content to be added by report was published in May 2013. first year of operation. Philanthropy Philanthropy Australia, Members, Associates and the Australia was actively engaged in With the election of a new Federal broader philanthropic community. the consultation process focused Government proposing a different The overall upgrade to date has achieved the following: on the development of the primary approach to sector policy, 2014 ACNC legislation, and continued this promises to be another busy year. • Improved website usability (enhanced readability, involvement as additional elements of increased learnability, improved design satisfaction). Philanthropy Australia will actively the ACNC’s regulatory framework were • Improved accessibility of website (including mobile engage in policy debates going forward, developed and finalised. This included: optimisation). to represent the interests of our • Preparing submissions to Members and advance our mission to • Improved productivity. Government on the draft ACNC lead an innovative, growing, influential The third stage of this digital upgrade project is projected governance standards and financial and high performing philanthropic sector. reporting requirements, which for late 2014 (subject to funding) and will complete the integration between the CRM system and website subsequently commenced on Marketing and technology 1 July 2013 technologies to further enhance Philanthropy Australia’s During 2013, Philanthropy Australia service to its stakeholders. Additionally, this stage will • Providing comment and feedback undertook a much-awaited, major leverage the new technology to deliver rich content, digital to Government regarding Private investment in our marketing and publications and mobile applications to help tell member Ancillary Fund privacy protections, technology capabilities – at the frontend stories and communicate education pieces, as well as also an area of strong focus for for Philanthropy Australia Members, promote collaboration and partnerships. Philanthropy Australia during the broader philanthropic sector and the development of the primary Philanthropy Australia also re-branded during 2013 with a the community at large, and at the ACNC legislation new simple look developed based on Member feedback in backend to improve our administration partnership with Disegno. and delivery: • Frontend upgrade: A new website Philanthropy Australia also experienced its strongest year including best practice navigation, of domestic media coverage and engagement, including refreshed content, enhanced Member industry and mainstream radio, television, newspaper, and Associate only sections, and magazine and digital content. increased service automation (e.g. online payment form). • Backend upgrade: a new customer relationship management (CRM) system – a single source of truth for membership information. Professional development and learning • New Generation Keynote address The group and Philanthropy Australia with Daniel Lurie, founder and CEO are now developing partnerships Although a non-conference year, Philanthropy Australia of Tipping Point Community (US) in with some of the US organisations offered an extended program of professional development Sydney and Melbourne. to increase giving in Australia. and thought leadership events and workshops for the benefit of our Members, Associates and the sector as a whole. • New Generation of Giving Field • New Generation of Giving Roadshow These events included international keynote speakers and Trip: In October 2013, Philanthropy in Melbourne, Sydney and Brisbane: local industry experts, which may be broadly divided into Australia led a field trip of 20 Participants of the New Generation thought leadership and best practice categories. emerging leaders in giving to the of Giving Field Trip also undertook US West Coast as part of its New a three-city Australian roadshow 2013 highlights included: Generation of Giving program. They on their return, supported by 1) Thought Leadership met with 18 family foundations, Macquarie and attended by over • Trustee events in Melbourne and Sydney that featured impact investors, impact investing 300 people. They shared their prominent philanthropists in conversation: Frank Lowy practitioners, community foundations first-hand experience of global AC in conversation with David Gonski AC (Sydney), and and philanthropic educators. These philanthropic best practice and how Danny Almagor and Berry Liberman in conversation with included the Bill and Melinda Gates it had impacted their own giving and Ian Darling (Melbourne). Over 400 people attended these Foundation, the Skoll Foundation leadership. inspirational events for the philanthropic sector and Omidyar Network (the latter two established by the founders of • Our newly commissioned Impact Investing 101 workshops: eBay). Some of the outcomes of the Presented and developed by industry experts Paul Steele, trip include foundations making Bessi Graham, Kylie Charlton and John McLeod. The impact investments, being inspired to workshops resulted in Members’ increased confidence, develop impact investing strategies, understanding and a number of impact investments, as individuals joining non-profit boards, well as Members developing impact investing strategies. and leading conversations within their family about how to become more effective with their giving. Philanthropy Australia - 2013 Annual Report 15
2) A national approach 3) Best practice
Affinity Groups and Networks were • A two part series on Assessing made more accessible to Members Impact for Grant-makers in nation-wide, which was a result of Melbourne and Sydney, which were Philantropy Australia adopting a more presented by industry expert, Dr. national and diversified operating mode. Gianni Zappala. Including case studies from The Ross Trust, Origin Affinity Groups were provided nationally Foundation, The Horizon Foundation to Members through the generous (Sydney) and The Cubit Family hosting of our video conferencing Foundation (Melbourne). partners, to stimulate peer learning • Grant seeker’s Guide to Assessing and best practice in the cause Social Impact workshops were held related areas. in Melbourne, Sydney, Brisbane, • Addressing Homelessness Affinity Adelaide and Perth, also presented Group by industry expert Dr. Gianni • Ageing Futures Affinity Group Zappala. • Arts Affinity Group • A national Private Ancillary Fund/ Public Ancillary Fund Roadshow in • Disability Affinity Group Partnerships Sydney, Brisbane, Perth, Adelaide • Education Affinity Group and Melbourne, discussing how to 2013 was a benchmark year for developing our partnerships. • Indigenous Affinity Group structure charitable giving through It was the year that Philanthropy Australia finally succeeded • International Giving Affinity Group Private Ancillary Funds and Public in obtaining Deductible Gift Recipient (DGR) status. This Ancillary Funds. • Rural & Regional Affinity Group required a ‘specific listing’ in the tax laws, made by way • Philanthropy 101 workshops in of a legislative amendment. This has been an objective of Networks were provided nationally to Melbourne and Sydney. Philanthropy Australia for many years and was a critical segments of funders with common part of our 2012-16 Strategic Plan. Philanthropy Australia interests and experiences that is not • Our sold out series of Governance was pleased to have its important role recognised by the program specific. workshops including The Governance of Charitable Foundations, Ancillary Parliament through the granting of DGR status, which is vital • CEOs Network Fund Governance and the new for securing partnerships and advancing our mission. • Corporate Network offering for Auditors In addition for the first time we had a dedicated staff member • Community Foundations Network to identify, secure and foster partnership opportunities • Family Foundations Network in collaboration with the CEO and other team members, resulting in over $1 million of cash and in-kind partnerships.
These partnerships enabled us to extend existing programs and produce new initiatives, including the New Generation of Giving program, Impact Investing program, Assessing Impact national workshop series, trustee events, an organisational rebrand, website and technology upgrade and the national delivery our affinity groups and networks.
Our thanks go to all Members, Associates and other industry collaborators who made these partnerships possible. For a full list of our 2013 Partners, please refer to page 29. Governance Committee Chair Philanthropy Australia Council (10 December 2013) Mr Bruce Bonyhady Robert McLean AM, Ann Johnson, Genevieve Timmons, David Ward, (until December 2013) Bruce Bonyhady AM, Louise Walsh, Noel Purcell, Paul Clitheroe AM, Timothy Fairfax AC Ms Dur-e Dara OAM Mr Rob McLean AM Not Pictured: Janet Hirst, Dur-e Dara Ms Ann Johnson Mr Timothy Fairfax AM Ms Louise Walsh
Audit and risk management Committee Chair Mr David Ward
Dr Noel Purcell Ms Janet Hirst (from April 2013) Philanthropy Australia - 2013 Annual Report 17
017 Council Members
Past President (resigned 31 Dec 2013) Treasurer Chief Executive Officer Bruce Bonyhady AM David Ward Louise Walsh Bruce Bonyhady (B Appl. Ec, M. Ec ) David Ward is a consultant on Louise Walsh brings extensive is Chairman of the National Disability governance, structure and investment corporate, government, not-for-profit Insurance Agency, Chairman of Acadian issues for charitable trusts and and philanthropic leadership and Asset Management Australia Limited, a foundations. planning experience to her role as Director of Director of Dexus Wholesale CEO of Philanthropy Australia. He is the author of the Trustee Property Limited and Chairman of the Handbook, Roles and Duties of Trustees A former corporate lawyer with Allens Advisory Panel to Solve! at the Royal of Charitable Trusts and Foundations Arthur Robinson, Louise worked on Childrens Hospital, Melbourne. in Australia (2008 & 2012), the Private Sydney’s Olympic Bid, and corporate He was formerly Chairman of Yooralla, Ancillary Fund, Trustee Handbook (2009) partnerships for the 2000 Olympic Chairman of ANZ Trustees Limited, and the Public Ancillary Fund, Trustee Games and the City of Sydney, before a Member of the Felton Bequests’ Handbook (2012). He is a presenter of becoming Director of Development Committee and a Member of the Trustee and Governance Workshops for the Sydney Symphony. Disability Investment Group. for Philanthropy Australia and also Most recently, Louise has been lectures at the Asia Pacific Centre for In June 2010, Bruce was appointed a founding Director of Artsupport Social Investment and Philanthropy, Member of the Order of Australia for Australia, an initiative of the Federal Swinburne University, on governance his service to people with disabilities, Government agency, the Australia and structure of charitable trusts. their families and carers, particularly Council for the Arts, to grow cultural as Chairman of Yooralla, and to the He was a member of the international philanthropy. During her 10 year tenure, community as a contributor to a range panel that developed the Investment Artsupport Australia facilitated over of charitable organisations. Management Code of Conduct for $77 million of philanthropic funds Endowments, Foundations and nationally for cultural sector across Vice President Charitable Organisations for the CFA hundreds of organisations and Institute (2010). individual artists. Dur-e Dara OAM Dur-e Dara is a restauranteur, business David is on the Council of Philanthropy woman and musician. She describes Australia serving as Treasurer. herself as Indian by race, Malaysian He is Technical Director and Board by birth and an Australian citizen by member of Australian Philanthropic choice. She is the Convenor of the Services and a Director of ShareGift Victorian Women’s Trust, on the board Australia. He is also philanthropic of management of La Mama Theatre, adviser to Private Investment Manager and Patron of the Victorian Foundation Harper Bernays. for Survivors of Torture. David had 20 years’ experience as a Dur-e was awarded the Medal of The senior financial market executive with Order of Australia in 1997 for services to ANZ including Chief Economist ANZ the community and promotional and (NZ), Head of Group Investor Relations fundraising activities for women’s groups. and four years as CEO of ANZ Trustees. Paul Clitheroe AM Timothy Fairfax AC Paul Clitheroe is a director of iPac Tim Fairfax AC is a businessman, pastoralist and securities, a company he founded philanthropist. in 1983 with four partners. ipac He is Chairman of the Vincent Fairfax Family Foundation, manages more than $13 billion dollars Tim Fairfax Family Foundation and Salvation Army Brisbane for clients. Paul is a leading media Advisory Board; Deputy Chairman of the National Gallery commentator on financial issues of Australia Council; President of the Queensland Art and his books have sold over 600,000 Gallery Foundation; Director of the Foundation for Rural and copies. Paul hosted the Money Program Regional Renewal, Australian Philanthropic Services; and on Channel 9 from 1993 to 2002. He Chancellor of Queensland University of Technology. also hosts “Talking Money” which runs nationally on radio. Tim is also Councillor, Royal National Agricultural and Industrial Association Queensland; and Patron of AMA Paul is Chairman of the Australian Queensland Foundation, the University of Sunshine Coast Governments Financial Literacy Board. Foundation and Volunteers for Isolated Students’ Education. It has established a national strategy to improve the financial skills of all Tim’s business interests include being Director of Cambooya Australians and is now implementing Pty Ltd, Building Solutions Pty Ltd, Rawbelle Management this strategy in schools and the Pty Ltd and Principal of TVF Pastoral, Strathbogie Pastoral workplace. Company and JH Fairfax & Son; which operate ten rural properties in Queensland and New South Wales involving He is also Chairman of Money beef cattle, fine wool and grain. magazine, Chairman of the youth anti- drink driving body, RADD, a Council Tim was the recipient of the 2011 Goldman Sachs Member of Philanthropy Australia, Philanthropy Leadership Award. Chairman of the Australian String Quartet and a member of the Sydney University Medical School Advisory Board.
In 2008, Paul was appointed a Member of the Order of Australia (AM) in the Queen’s Birthday Honours for service to the financial sector through the promotion of financial literacy, and to the community.
In 2012 Macquarie University appointed Paul as Chair of Financial Literacy. He is a Professor with the School of Business and Economics. Philanthropy Australia - 2013 Annual Report 19
Janet Hirst (from April 2013) Janet is currently a member of the Ann Johnson Indigenous Eye Health Advisory Janet Hirst has been Chief Executive Ann Johnson is a director of the W & A Committee and the Committee for Officer of The Ian Potter Foundation, Johnson Family Foundation. Ann and the Advancement of Health & Medical The Ian Potter Cultural Trust and The her husband Warwick established their Research (established by Philanthropy George Alexander Foundation since PAF in 2006. She is a director of the Australia and Research Australia). December 2006. Sydney Theatre Company, chair of the Previous sector roles have included Sydney Theatre Company Foundation membership of the Leading Learning Janet came to philanthropy after and a director of Ecotrust Australia. working in senior policy roles for the in Education and Philanthropy (LLEAP) former Deputy Prime Minister, The Hon Advisory Group, Centre for Social Ann trained as a lawyer and has worked John Anderson AO, including National Impact’s Melbourne Advisory Council, in Sydney and Tokyo for law firms. Transport Security Adviser and Social Philanthropy and Government Working Policy Development Adviser. Janet Group (convened by the Victorian State played a key role in the establishment Government Office for the Community of the Regional Women’s Advisory Sector), The Foundation Project, and Council, which advised the Government the Philanthropy Australia Conference on issues affecting communities in Committee (Vic). regional Australia, and was a member Janet is passionate about genuine of the Regional Australia Summit collaboration within the philanthropic Steering Committee, responsible for sector itself as well as with developing a plan for implementing government and community groups, outcomes from the Summit. and is dedicated to contributing to the development of a positive and dynamic culture of philanthropy in Australia. Robert McLean AM Dr Noel Purcell Robert is a company director and Noel is Principal of Simply Good private equity investor. He is a director Business, which specialises in strategic of LJ Hooker and the Reserve Bank of advice to corporations, government and Australia Payments System Board. He not-for-profit organisations in the areas is a Senior Advisor to McKinsey & Co of corporate governance, responsibility Inc. where he served as the Managing and sustainability. Director for Australia and New Zealand. Noel retired from Westpac Banking His non-profit roles include serving as Corporation in September 2008, having a director of the Centre for Independent spent 23 years in senior executive Studies, the Nature Conservancy roles, as well as a former Trustee Australia Program Advisory Board, of the Westpac Foundation. Prior to the Asia Pacific Council of the Nature joining Westpac, Noel had served at Conservancy, the UNSW Medicine senior executive level within the Federal Advisory Council and as a Council Public Service within Prime Minister member of Philanthropy Australia. and Cabinet, the Office of National Previous NFP roles have included Assessments, and the Australian founding Chairman of Social Ventures Bureau of Statistics. Australia, former President of The Noel currently sits on several boards Benevolent Society and Chairman of including as Chair of the Global The Nature Conservancy Australia Governing Board of the Caux Round Advisory Board. Table, Chair of the Advisory Board of ANZSustain, Board member of Bestest Inc, and a Council member of Philanthropy Australia. Philanthropy Australia - 2013 Annual Report 21
Genevieve Timmons (from April 2013) Christopher Thorn (Until April 2013) Genevieve is philanthropic executive of the Portland House Christopher Thorn (BCom, FFin, MSAA, Foundation, a private, family foundation based in Melbourne MAICD) is a Partner and Head of linked to commercial interests. Since her appointment in Philanthropy and Charitable Services 2004, a strong grantmaking portfolio has been established at Evans and Partners. Christopher consistent with the Foundation charter to assist people to is an accomplished financial services move out of situations of disadvantage. Genevieve is also executive who has 30 years’ experience Deputy Chair of the Inner North Community Foundation, and working across private wealth a director of the George Hicks Foundation, and she brings management, institutional equities, more than 30 years of experience in grantmaking and social philanthropy and social investment, investment. providing investment advice to a diverse client group with a particular focus This experience includes management of the Lance on strategy, governance and asset Reichstein Foundation for 12 years, followed by 6 years as allocation. an international philanthropic consultant in Australia and New Zealand. Genevieve delivered a comprehensive range His primary responsibilities included of services in both countries through this consultancy, raising awareness of philanthropic including design, implementation and review of issues and providing advice on contemporary grantmaking programs, matched with policy investment and capital management to and research on emerging trends and global challenges in individuals and organisations wishing philanthropic grantmaking. More than 30 clients included to implement a philanthropic strategy. community foundations, trusts, Private Ancillary Funds, In this role he established the JBWere government, corporate and private donors, plus the peak Charitable Endowment Fund. He membership organisation Philanthropy New Zealand. A has developed a particular interest range of professional development materials have been in fostering relationships between published both in Australia and New Zealand. In the last interested parties in order to facilitate decade, Genevieve worked closely with state government the giving process including advocating as a member of the Victorian Advisory Council for the for the development of a Social Capital Community Support Fund, and the Government and market in Australia. He retired as a Philanthropy Working Party which developed Principles for Partner of Goldman Sachs Australia Collaboration between both sectors. in 2011.
Other board appointments include the Victorian Foundation Christopher is Chairman of ShareGift for Survivors of Torture, the Fellowship for Indigenous Australia, President of the Camberwell Leadership and Reconciliation Victoria. High level peer Grammar School Foundation, a networks are maintained as a Fellow of Leadership Victoria, member of Impact Investing Australia as a Senior Fellow of the Johns Hopkins International Advisory Board and the Melbourne Fellows in Philanthropy Program (USA), and in New Zealand Advisory Council of the Centre for with peer grantmakers. Social Impact.
Genevieve is committed to ensuring that philanthropy in He was formerly a partner of Goldman Australia reaches its best potential in the decade ahead, and Sachs Australia (2003- 2011), Chair that Philanthropy Australia as an organisation is respected, of the MLC Community Foundation influential, leading out with creativity and professionalism, Advisory Board, founding Chairman of while also adding value and accelerating the progress of all StreetSmart Australia and an inaugural Philanthropy Australia Members. board member of Giving West. 022 2013 Council Meeting Attendance Record
Council Meeting Attendance & Committees
Meeting of council members During the financial year, eight council meetings were held. Attendances by each council member during the year were as follows:
Council Meetings Comments
Number Number eligible to attended attend
Bruce Bonyhady AM 8 8 Retired December
Paul Clitheroe AM 7 8
Dur e Dara OAM 7 8
Tim Fairfax AM 5 8
Janet Hirst 5 6 Joined April
Ann Johnson 7 8
Robert McLean AM 7 8
Noel Purcell 7 8
Genevieve Timmons 6 6 Joined April
Christopher Thorn 2 2 Retired April
Louise Walsh 8 8
David Ward 8 8 Philanthropy Australia - 2013 Annual Report 23
023 Members of Philanthropy Australia at 31 December 2013
LEADING MEMBERS FULL MEMBERS Australian Respiratory Council Coca Cola Australia Foundation 5Point Foundation Australian Stockbrokers Collier Charitable Fund Abbott Foundation Foundation Colonial Foundation Abey Family Foundation Ballarat Catholic Bishops Commonwealth Bank Foundation Charitable Fund Aligned Resources Group Community Enterprise Foundation Baly Douglass Foundation We would like to acknowledge the Alison Verghese Community Foundation for bankmecu outstanding commitment of ANZ AMP Foundation Bendigo and Central Victoria Bass Coast Community as lead members since 2000 Amy Lee Barrett Cooper Investors Pty. Limited Foundation Andreas Angelatos Craig Spence Bennelong Foundation Andrew Cameron Family Crawbuck Foundation Berg Family Foundation Foundation Crawford Foundation Pty Ltd Besen Family Foundation Andrew Kaldor Creative Partnerships Australia Bethesda Trust Andyinc Foundation Credit Suisse AG (Australia) Bjarne K Dahl Trust Anita Luca Belgiorno-Nettis Dalcorp Foundation Bokhara Foundation Foundation Dame Roma Mitchell Foundation Annamila Pty Ltd Border Trust for Children and Young People ANZ Trustees Limited Boyce Family Office Dana Asia Arnold Bloch Leibler Bruce & Rae Bonyhady Daniel Thomas Gilbert Ashby Utting Bruce Hawker Danks Trust Ashurst Australia Buderim Foundation d’Antoine Family Foundation Aspen Foundation Limited Buildcorp Group David & Pam McKee Atlas D’Aloisio Foundation Bupa Health Foundation David Ward Atlassian Foundation Burrabaroo Foundation Day Family Foundation auDA Foundation CAGES Foundation Deakin University - Development AUSiMED - Australia Israel Camberwell Grammar School Office Medical Research Foundation Diana Elizabeth Browne Trust Aussie Farmers Foundation Capital Region Community Doc Ross Foundation Foundation (GreaterGood) Australia Council for the Arts Donkey Wheel Fund Catholic Archdiocese of Australia Post Dr Dax Marcus Calder Melbourne Australian Business & Community Dr Noel Purcell Chapter Seven Network (ABCN) Dr Timonthy Pasoe Charities Aid Foundation (CAF) Australian Communities Australia - CAF Community Fund Duggan Foundation Foundation (ACF) Charles Bateman Charitable Trust Earth Welfare Foundatino Australian Council for Educational Research (ACER) Foundation Christopher Thorn Eden Foundation Australian Executor Trustees Ltd Clayton Utz Foundation Edward Simpson Australian Philanthropic Services Clitheroe Foundation (APS) Club Goodwill Pty Ltd Effective Philanthropy Goodman Foundation (Goodman John Wallis Foundation Maddocks Emma Francesca Hargrave Private Wealth Advisers) Julian Knights Malcolm & Monika Freake Equity Trustees Limited Goodman Foundation Pty Limited June Canavan Foundation Mannkal Economic Education Eureka Benevolent Foundation Grace and Emilio Foundation Kara Frederick Foundation Eve Mahlab AO Graham & Louise Tuckwell Karen Mahlab Maple-Brown Family Charitable Foundation Foundation Eyre Peninsula Community Karma Currency Foundation - Foundation Inc Grant Family Charitable Trust Good Company Maranatha Trust Fay Fuller Foundation Greater Charitable Foundation Kate and Stephen Shelmerdine Marcus C Blackmore Feenstra Family Foundation Greenlight Foundation Family Foundation Margaret Hobbs Ferris Family Foundation Grenet Foundation Kathrynn Wood Margaret Lawrence Bequest Fischer Foundation H V McKay Charitable Trust Katz Family Foundation Maria Myers Flannery Family Foundation Harold Mitchell Foundation Kennards Foundation Matana Foundation for Young People Fleur Spitzer Harper Bernays Charitable Trust Kevin Bailey Charitable Trust Matsarol Foundation Pty Ltd Fleurieu Community Foundation Hecand Kindred Spirits Foundation McCullough Robertson Foundation Fogarty Foundation Helen Macpherson Smith Trust King & Wood Mallesons McLeod Family Foundation Foundation Barossa Herbert Smith Freehills Kinglake Ranges Foundation Medical Research Foundation for Foundation Boroondara Hosking Foundation Klein Family Foundation Women & Babies Foundation for Alcohol Research Hunter Hall International KPMG Melbourne Welsh Church and Education (FARE) Incolink Foundation Ltd Kristine Tayler Millett Family Foundation Foundation for National Parks Indigenous Capital Limited L.E.W. Carty Charitable Fund Mirboo North & District & Wildlife Indigo Express Fund Lady Southey Community Foundation Foundation for Rural & Regional ING Foundation Lang Foundation Renewal (FRRR) MLC Community Foundation Inner North Community Law & Justice Foundation of NSW Fraser Foundation Morawetz Social Justice Fund Foundation Ledger Charitable Trust Fremantle Foundation Morris Family Foundation Investec Legal Services Board Gandel Philanthropy Mostyn Family Foundation IOOF Foundation Letcombe Trust Geelong Community Foundation Mr John B Reid AO Ivany Family Foundation Levy Foundation Geoff Handbury Mumbulla Foundation Jack & Ethel Goldin Foundation Limb Family Foundation George Alexander Foundation Music by Alex James N Kirby Foundation Lockwood Trust George Hicks Foundation Myer Stores Community Fund Janne Ryan Lord Mayor’s Charitable Natalia Bradshaw George Reid Jaramas Foundation Foundation National Foundation for Australian Gillian Hund Jarman McKenna Lawyers Lotterywest Women Girgensohn Foundation JDK Research Louisa DaCosta Trust National Stem Cell Foundation of Give Where You Live Foundation Jillian Segal Louise Doyel Australia Giving with Devotion Foundation Jobs Australia Foundation LUCRF Community Partnership Nelson Meers Foundation Glen and Juliette Wright Trust John and Myriam Wylie Newcastle Permanent Charitable Goldman Sachs Foundation M H Carnegie Foundation Gonski Foundation John Barnes Foundation Trust Macquarie Group Foundation Philanthropy Australia - 2013 Annual Report 25
Newman’s Own Foundation Rowley Foundation Ten20 Foundation The Gualtiero Vaccari Foundation Newsboys Foundation Roy Leech The Alan L Lane Foundation The Gwen M & Edna J Jones nib foundation Royal Agricultural Society (NSW) The Alfred Felton Bequest Foundation Northern Rivers Community Foundation The Andrews Foundation The Horizon Foundation Foundation Ruffin Falkiner Foundation The Australian Elizabethan The Hunt Foundation Origin Foundation Russell Investments Theatre Trust The Ian Potter Foundation Ottomin Charitable Foundation Sabemo Trust The Ballarat Foundation The Invergowrie Foundation Parncutt Family Foundation Scanlon Foundation The Balnaves Foundation The Investec Foundation Patterson-Pearce Foundation Schools Connect Australia The Belalberi Foundation The Jack Brockhoff Foundation Paul Maxwell Bide Schudmak Family Foundation The Body Shop The James & Diana Ramsay Paul Wheelton Shane Carroll The Bowness Family Foundation Foundation Perpetual Ltd Shane Simpson The Caledonia Foundation The Keir Foundation Peter Joseph AM Shark Island Productions The Calvert-Jones Foundation The Killen Family Foundation Pethard Tarax Charitable Trust Sherman Contemporary Art The Cameron Foundation The Lewis Foundation Petre Foundation Foundation The Carnegie Foundation Trust The Mackay Foundation Pimco Australia Sir Andrew & Lady Fairley The CASS Foundation Limited The Mary MacKillop Foundation Foundation Portland House Foundation The Charlie Perkins Trust for The Mary Potter Trust Foundation Sisters of Charity Foundation Ltd Prescott Family Foundation Children & Students The McClements Foundation SK&YY Cheung Family Foundation Private Portfolio Managers The Christensen Fund The McLean Foundation Slingsby Foundation Public Trustee for the ACT Capital The Copland Foundation The Melbourne Anglican Region Community Foundation Small Giants The Cubit Family Foundation Foundation PwC Foundation Social Ventures Australia (SVA) The Deloitte Foundation The Menzies Foundation Queensland Community Soundhouse Music Alliance Pty The English Family Foundation The Miller Foundation Ltd Ltd Foundation The Eric and Elizabeth Gross The Movement Disorder RACV Community Foundation Sparke Helmore Lawyers Foundation Foundation Ray & Joyce Uebergang Spinifex Trust The Ern Hartley Foundation The Mullum Trust Foundation Stack Family Foundation The Feilman Family Foundation The Mundango Charitable Trust Red Rocketship Foundation Stand Like Stone Foundation The Fielding Foundation The Myer Foundation Reg Richardson AM State Trustees Australia The Flora & Frank Leith The Norman Wettenhall Reichstein Foundation Foundation Charitable Trust Foundation Richard Longes Stegley Foundation The Foundation for Young The P & S Bassat Foundation Rita Hogan Foundation Stephanie Boldeman Australians (FYA) The Palya Fund River Capital Foundation Sue Beecher The Freemasons Public Charitable The Paul Griffin Charitable Trust Foundation RMIT Foundation Sunshine Foundation The Perpetual Foundation The Ghosh Foundation Robert McLean Sydney Community Foundation The Pierce Armstrong Foundation The Gordon Darling Foundation Roland Errol Gridiger Tasmanian Early Years Foundation The R. E. Ross Trust The Greatorex Foundation Ronald Geoffrey Arnott Foundation Telematics Trust The Rali Foundation The Grosset Gaia Fund Rosey Kids Foundation Telstra Foundation The Robert Christie Foundation The SBA Foundation Voiceless, the animal protection ASSOCIATES Australian Sports Foundation The Sky Foundation institute 1 Million Women Australian Women Donors The Snow Foundation W & A Johnson Family Foundation Achieve Australia Limited Network (AWDN) The Southern Highlands Wayne Daniels Action on Disability within Ethnic Baker IDI Heart and Diabetes Foundation Westpac Foundation Communities Inc (ADEC) Institute The Stan Perron Charitable Trust Wilson Foundation ActionAid Baptist Community Services - NSW & ACT The Thomas Foundation Wilson HTM Foundation Advanced Paediatric Life Support Barnardos Australia The Tony and Lisette Lewis Wolf Foundation Australia Barwon Health Foundation Foundation World Relief Australia Alzheimer’s Australia NSW Believe Foundation Incorporated The Tony Foundation Yajilarra Trust AMRRIC (Animal Management in Rural and Remote Indigenous Bell Shakespeare The Towards a Just Society Fund Youanmi Foundation Communities) The Transfield Foundation Belvoir Animal Welfare League NSW The WeirAnderson Foundation Benetas APW Partners Pty Ltd The William Buckland Foundation Berry Street Victoria Arts Health Institute The Wyatt Benevolent Institution Beulah Community Ltd Inc Asia-Pacific Centre for Social Biennale of Sydney Investment & Philanthropy Three Flips Foundation Bobby Goldsmith Foundation (APCSIP), Swinburne University Tibetan & Hindu Dharma Trust Brisbane Powerhouse Austin Health Tim Fairfax Family Foundation Brotherhood of St Laurence Australian Brandenburg Orchestra Tomorrow:Today Foundation Burnet Institute Australian Cancer Research Toyota Australia Foundation Camp Quality Trawalla Foundation Australian Conservation Can Assist Turnbull Foundation Foundation (ACF) Cancer Council NSW UBS Wealth Management Australian Diabetes Council Caritas Australia United Way Australia Australian Environment Caroline Chisholm Education Grantmakers Network (AEGN) United Way South Australia Inc (SA) Foundation Australian Indigenous Mentoring Veolia Mulwaree Trust Cat Protection Society of NSW Experience (AIME) VicHealth Catholic Care - Melbourne Australian Institute of Architects Victoria Law Foundation Catholic Care - Sydney Australian Museum Victorian Women’s Trust Centennial Parklands Foundation Australian National University Cerebral Palsy Alliance Vincent Fairfax Family Foundation (ANU) Charles Darwin University Australian Overseas Foundation Foundation Australian Red Cross Children First Foundation Australian Rotary Health Childrens Cancer Institute Australian Rural Leadership Australia Foundation Children’s Cancer Institute Australian Scholarships Australia for Medical Research Foundation Philanthropy Australia - 2013 Annual Report 27
(CCIA) GoFundraise Mercer Investments Australia Ltd Opportunity International Australia Children’s Ground Limited Gold Coast Hospital Foundation Mercy Health Foundation Oxfam Australia Children’s Hospital Foundation Gold Coast Institute of TAFE MF Philanthropic Services Pembroke School Foundation Children’s Medical Research Good Beginnings Australia Micah Projects Inc Peninsula Health Institute (CMRI) Good Shepherd Microfinance Migration Alliance Inc Peter MacCallum Cancer Children’s Protection Society Good360 Australia Miles Bellman Foundation (CPS) Great Barrier Reef Foundation Mission Australia Philanthropy Australia Chris Wallace Organisation Greenpeace Australia Pacific MJD Foundation Inc. Climateworks Australia Philanthropy Squared Griffith University Monash University, Colac Area Health Foundation Pitcher Partners Investment Half The Sky Foundation Advancement Portfolio Services Pty Ltd Community Sector Banking Australia Ltd Moore Stephens Plan International Australia Conservation Volunteers Australia Hear and Say Centre Melbourne Pty Ltd Planet Ark Environmental Country Education Foundation of Heart Research Centre Morgan Stanley Wealth Australia (CEFA) Management Australia Pty Ltd Foundation Heide Museum Of Modern Art Curtin University - Office of Mr Detlev Lueth Prince of Wales Hospital Help Enterprises Foundation Advancement MS Research Australia Inspire Foundation Public Interest Law Clearing Diabetes Queensland Multiple Sclerosis Limited ipac South Australia House (PILCH) Documentary Australia Murdoch University Foundation Julian Burton Burns Trust Queensland Art Gallery Museum of Contemporary Art Foundation Don Dunstan Foundation Kids Under Cover Mutual Trust Pty Ltd Queensland Library Foundation Donate Planet KidsXpress National Breast Cancer Knightsbridge Wealth Queensland Symphony Orchestra Doxa Youth Foundation Foundation Management Raise Foundation Dr Matthew Turnour National Heart Foundation of Leadership Victoria Reconciliation Australia Dusseldorp Skills Forum Australia Lifeline Australia Relationships Australia Inc Dymocks Children’s Charities National Institute of Dramatic Art Lifestart Co-operative Ltd Research Australia E.W. Tipping Foundation (NIDA) Lighthouse Foundation RiAus (Royal Institution of Eastern Health Foundation National Museum of Australia Macquarie Private Wealth (NMA) Australia) Epworth Medical Foundation Macquarie University Nordoff-Robbins Music Therapy Room To Read Australia Family Business Australia (FBA) Foundation Malthouse Theatre Australia Foresters Community Finance Royal Botanic Gardens Melbourne Mater Foundation Northcott Disability Services Garvan Research Foundation Royal Flying Doctor Service - Mathew Hale Public Library Northern Basin Aboriginal Nations Geelong Gallery South Eastern Section Medecins Sans Frontieres NSW Department of Premier Global Philanthropic Royal Institute of Australia Australia and Cabinet Royal Rehabilitation Centre Medibank Private Ltd Oncology Children’s Foundation trading as The Kids Cancer Project Sydney Melbourne Business School One Disease at a Time Rural Health Education Menzies School of Health Foundation Research OneSight Foundation SANE Australia Save the Children Sydney Theatre Company The Royal Children’s Hospital Whitelion School for Social Entrepreneurs Foundation Foundation (Vic) WISE Community Investment (SSE) Taralye The Royal Melbourne Hospital World Society for the Protection of Scope (Vic) Ltd Teach Positive Foundation Animals (WSPA Australia) Services for Australian Rural & The Alfred Foundation The S. R. Stoneman Foundation World Vision Australia Remote Allied Health The Anaesthesia and Pain The Salvation Army (Southern YMCA of Sydney Region) Shadforth Financial Group Medicine Foundation (ANZCA) Youngcare The Salvation Army Eastern Share Community Appeal The Australian Ballet Youth Off The Streets Territory Sharegift Australia The Australian Charities Fund YWCA NSW Operations Limited (ACF) The Shepherd Centre Skilling Australia Foundation Zoos Victoria The Smith Family (NSW) Social Traders Ltd The Australian Children’s Music Foundation The Smith Family (VIC) South Australian Health and Medical Research Institute The Benevolent Society The Song Company (SAHMRI) The Big Issue Australia The St Vincents Curran Foundation South Western Melbourne The Cancer Council Victoria The University of Melbourne - Medicare Local The Centenary Institute Advancement Office Spina Bifida Association of SA Inc The Centre for Social Impact (CSI) The Walter & Eliza Hall Institute of Medical Research St Margaret’s Anglican Girls’ The Charitable Foundation for School Books in Homes Australia The Western Health Foundation St Vincent de Paul Society Victoria The Clem Jones Group Travellers Aid Australia Inc. The Climate Institute Trinity College St Vincent’s Institute of Medical The ExxonMobil Australia group of UCA Funds Management Research (SVI) Companies UnitingCare NSW.ACT St.George Foundation The Fred Hollows Foundation University of Ballarat Starlight Children’s Foundation The George Institute for Global University of Canberra State Library of NSW Foundation Health University of New South Wales State Library of Victoria The Institute of Chartered (UNSW) Foundation Foundation Accountants in Australia University of Newcastle (UON) Stewart House The Jean Hailes Foundation Foundation Ltd Strategic Grants Pty Ltd The Mary Potter Foundation Inc University of South Australia Sunnyfield The Nature Conservancy University of Southern Queensland Support Act Limited The Prince Charles Hospital (USQ) Surf Life Saving Foundation Foundation Victoria University Development Sydney Adventist Hospital The Queen Elizabeth Centre Office Foundation Foundation (QEC) Vision Australia Sydney Dance Company The RANZCO Eye Foundation Volunteering Australia Sydney Opera House The Reach Foundation Warakirri Asset Management Sydney Theatre Company The Royal Botanic Gardens and Westmead Medical Research Domain Trust Foundation (WMRF) Philanthropy Australia - 2013 Annual Report 29
029 Acknowledgements
Philanthropy Australia would like Capacity Building Support Trustee Events to acknowledge the generous and Bruce Bonyhady AM UBS Wealth Management and valuable in-kind support provided Robert McLean AM Global Family Office by the following individuals and organisations in 2013. South Australia Program Professional Development and Learning Program James & Diana Ramsay With thanks to our 2013 Partners Foundation Impact Investing Program Lead Members Queensland Program Department of Education, Employment and Workplace Anonymous x 1 Relations New Generation of Giving Impact Investment Group Program Community Foundations Forum Founding Partners We would like to acknowledge the Scholarships Geoff Ainsworth outstanding commitment of ANZ Foundation for Rural & Regional as lead members since 2000 The Caledonia Foundation Renewal Vincent Fairfax Family Foundation West Australia Program Cousins Lotterywest David Gonski AC Assessing Social Impact National W & A Johnson Family Foundation Workshop Series Karen Loblay Westpac Social Sector Banking
US Field Trip Roadshow Program Manager’s Mentoring Macquarie Private Wealth Program (will take place in 2014) Keynote Address The Ian Potter Foundation Nelson Meers Foundation RE Ross Trust Vincent Fairfax Family Foundation Research and Policy Benchmark Research Study (will take place in 2014) Clayton Utz The Ian Potter Foundation St George Foundation June Canavan Foundation Origin Foundation 030 Acknowledgements Continued
Marketing & Technology Office Website & Technology Upgrade Melbourne Office Paul Wheelton OAM ANZ
Anonymous x 2 Sydney Office Design Partner M.H. Carnegie & Co. Disegno Adelaide Office Knightsbridge Wealth Funders Groups & Networks Management Addressing Homelessness Brisbane Office Funders Group TVF Private Office UBS Foundation
Ageing Futures Funders Groups 2013 Event Hosts Maddocks Arnold Bloch Leibler
Council, Audit & Risk Management Australia Centre for the Moving Committee, Arts Funders Group and Image (ACMI) International Giving Funders Group Australia Post JBWere Private Wealth Australian Museum Management Clayton Utz Disability Funders Group Commonwealth Bank Australian Executor Trustees Foundation for Young Australians Rural and Regional Funders Group Goodman Private Wealth Advisors Australia Post Helen Macpherson Smith Trust CEOs Network and Corporate Incolink Network IPAC Macquarie Group Foundation Melbourne Business School Family Foundations Network Royal Melbourne Institute of KPMG - Family Office Technology (RMIT) PwC Indigenous Funders Group Education Funders Group Queensland Art Gallery/Gallery of Origin Foundation Modern Art (QAGOMA) State Library of Queensland State Library of NSW Sydney Opera House Stockland UBS Philanthropy Australia - 2013 Annual Report 31
031 Financial Statements For the Year Ended 31 December 2013
Philanthropy Australia - 2013 Annual Report 33 033 Statement of Profit or Loss and Other Comprehensive Income As at 31 December 2013
Note 2013 2012 $ $ Revenue 2 2,131,255 1,576,364
Employee benefits expense (1,383,292) (974,333) Depreciation and amortisation expense (6,728) (4,966) Journals and publications (36,008) (46,768) Consultants expense (186,694) (37,774) Travel (109,723) (65,821) Conference expense - (147,172) Advertising (16,204) (17,056) Rental expenses (114,606) (17,161) Auditors remuneration (8,224) (7,750) Events expense (69,021) (41,602) Operating expenses (243,785) (139,147)
Surplus/(deficit) from continuing operations (43,030) 76,814 Other comprehensive income for the year - - Total surplus/(deficit) and comprehensive income for the year (43,030) 76,814
The accompanying notes form part of these financial statements. 034 Statement of Financial Position As at 31 December 2013
Note 2013 2012 $ $ ASSETS CURRENT ASSETS Cash and cash equivalents 4 568,504 373,129 Trade and other receivables 5 59,989 119,105 Other financial assets 6 219,770 215,112 Other assets 8 12,889 11,693 TOTAL CURRENT ASSETS 861,152 719,039
NON CURRENT ASSETS Property, plant and equipment 7 6,640 12,638 TOTAL NON-CURRENT ASSETS 6,640 12,638
TOTAL ASSETS 867,792 731,677
LIABILITIES CURRENT LIABILITIES Trade and other payables 9 86,798 54,080 Employee benefits 11 79,846 67,341 Other financial liabilities 10 456,960 311,069 TOTAL CURRENT LIABILITIES 623,604 432,490
NON CURRENT LIABILITIES Employee benefits 11 15,533 27,502 TOTAL NON-CURRENT LIABILITIES 15,533 27,502
TOTAL LIABILITIES 639,137 459,992
NET ASSETS 228,655 271,685
EQUITY Retained surpluses 228,655 271,685 TOTAL EQUITY 228,655 271,685
The accompanying notes form part of these financial statements. Philanthropy Australia - 2013 Annual Report 35 035 Statement of Changes in Equity As at 31 December 2013
2013 Retained Total Surpluses $ $ Balance at 1 January 2013 271,685 271,685 Surplus for the year (43,030) (43,030)
Balance at 31 December 2013 228,655 228,655
2012 Retained Total Surpluses $ $ Balance at 1 January 2012 194,871 194,871 Surplus for the year 76,814 76,814
Balance at 31 December 2012 271,685 271,685
The accompanying notes form part of these financial statements. 036 Statement of Cash Flows As at 31 December 2013
Note 2013 2012 $ $ CASH FLOWS FROM OPERATING ACTIVITIES: RECEIPTS FROM MEMBERS 1,503,386 1,605,563 Payments to suppliers and employees (2,156,375) (1,613,230) Sponsorships, donations and grants received 680,705 54,533 Interest received 19,456 24,178 Other income 153,591 6,702
Net cash provided by (used in) operating activities 17 200,763 77,746
CASH FLOWS FROM INVESTING ACTIVITIES: Placement of term deposits (4,658) (10,753) Purchase of property, plant and equipment (730) (6,976)
Net cash used by investing activities (5,388) (17,729)
CASH FLOWS FROM FINANCING ACTIVITIES: Net increase (decrease) in cash and cash equivalents held 195,375 60,017 Cash and cash equivalents at beginning of year 373,129 313,112
Cash and cash equivalents at end of financial year 4 568,504 373,129
The accompanying notes form part of these financial statements. Philanthropy Australia - 2013 Annual Report 37 037 Notes to Financial Statements For the Year Ended 31 December 2013
1 Summary of Significant Accounting Policies (e) Revenue and other income Revenue from Full, Associate and Resource Centre Members (a) Basis of Preparation is recognised when invoiced. The membership fee is then Philanthropy Australia has elected to early adopt the Australian recognised proportionately over the subscription year. Any Accounting Standards – Reduced Disclosure Requirements balance not earned as income at year end is recognised as as set out in AASB 1053: Application of Tiers of Australian unearned income. Accounting Standards and AASB 2010–2: Amendments to Australian Accounting Standards arising from Reduced Revenue from Leading Members fees is treated as income Disclosure Requirements. Accordingly, the association has when invoiced. also early adopted AASB 2011–2: Amendments to Australian Interest revenue is recognised on a proportional basis, taking Accounting Standards arising from the Trans Tasman into account the interest rates applicable to the financial assets. Convergence Project – Reduced Disclosure Requirements and AASB 2012–7: Amendments to Australian Accounting Standards Revenue from the sale of goods is recognised upon delivery of arising from Reduced Disclosure Requirements in respect of goods to customers. AASB 2010–6: Amendments to Australian Accounting Standards Grant revenue is recognised in the statement of comprehensive – Disclosures on Transfers of Financial Assets and AASB income when the entity obtains control of the grant, it is 2011–9: Amendments to Australian Accounting Standards – probable that the economic benefits gained from the grant will Presentation of Items of Other Comprehensive Income. flow to the entity and the amount of the grant can be measured The financial statements are general purpose financial reliably. statements that have been prepared in accordance with When grant revenue is received whereby the entity incurs the Australian Accounting Standards Reduced Disclosure an obligation to deliver economic value directly back to the Requirements and the Associations Incorporation Reform contributor, this is considered a reciprocal transaction and grant Act 2012. The association is a not for profit entity for financial revenue is recognised in the statement of financial position as a reporting purposes under Australian Accounting Standards. liability until the services has been delivered to the contributor, Australian Accounting Standards set out accounting policies that otherwise the grant is recognised as income on receipt. the AASB has concluded would result in financial statements Revenue from conference is recognised as income in advance containing relevant and reliable information about transactions, and brought to account as income after the conference. events and conditions. Material accounting policies adopted in the preparation of the financial statements are presented below Revenue from workshops and seminars are recognised as and have been consistently applied unless stated otherwise. income when invoiced.
The financial statements, except for the cash flow information, All revenue is stated net of the amount of goods and services have been prepared on an accruals basis and are based tax (GST). on historical costs, modified, where applicable, by the measurement at fair value of selected non current assets, (f) Goods and Services Tax (GST) financial assets and financial liabilities. The amounts presented Revenue, expenses and assets are recognised net of the amount in the financial statements have been rounded to the nearest of goods and services tax (GST), except where the amount of GST dollar. incurred is not recoverable from the Australian Taxation Office (ATO). (b) Comparative Amounts Receivables and payable are stated inclusive of GST. The net When required by Accounting Standards, comparative figures amount of GST recoverable from, or payable to, the ATO is have been adjusted to conform to changes in presentation for included as part of receivables or payables in the statement of the current financial year. financial position.
(c) Income Tax Cash flows in the statement of cash flows are included on a The Association is exempt from income tax under Division 50 of gross basis and the GST component of cash flows arising from the Income Tax Assessment Act 1997. investing and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating (d) Leases cash flows. Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight line basis over the life of the lease term. 038 Notes to Financial Statements For the Year Ended 31 December 2013
(g) Property, Plant and Equipment (i) Cash and cash equivalents Each class of property, plant and equipment is carried at cost of Cash and cash equivalents comprises cash on hand, demand fair value as indicated less, where applicable, any accumulated deposits and short term investments which are readily depreciation and impairment losses. convertible to known amounts of cash and which are subject to an insignificant risk of change in value. Plant and equipment Bank overdrafts also form part of cash equivalents for the Plant and equipment are measured on the cost basis less purpose of the statement of cash flows and are presented within depreciation and impairment losses. Cost includes expenditure current liabilities on the statement of financial position. that is directly attributable to the asset. In the event the carrying amount of plant and equipment is greater than its (j) Employee benefits estimated recoverable amount, the carrying amount is written Provision is made for the Philanthropy Australia’s liability for down immediately to its estimated recoverable amount and employee benefits arising from services rendered by employees impairment losses recognised either in profit or loss or as to the end of the reporting period. Employee benefits that are a revaluation decrease if the impairment losses relate to a expected to be settled within one year have been measured at revalued asset. A formal assessment of recoverable amount is the amounts expected to be paid when the liability is settled. made when impairment indicators are present. Employee benefits expected to be settled more than twelve Depreciation months after the end of the reporting period have been The depreciable amount of all fixed assets is depreciated on measured at the present value of the estimated future cash a straight line basis over the asset’s useful life commencing outflows to be made for those benefits. In determining the from the time the asset is held ready for use. Leasehold liability, consideration is given to employee wage increases improvements are depreciated over the shorter of either the and the probability that the employee may satisfy vesting unexpired period of the lease or the estimated useful lives of the requirements. Cashflows are discounted using market yields on improvements. national government bonds with terms to maturity that match the expected timing of cashflows. Changes in the measurement The depreciation rates used for each class of depreciable asset of the liability are recognised in profit or loss. are shown below: Employee benefits are presented as current liabilities in the Fixed asset class Depreciation rate statement of financial position if the Philanthropy Australia Furniture, Fixtures and Fittings 33% does not have an unconditional right to defer settlement of the Office Equipment 33% liability for at least 12 months after the reporting date regardless of the classification of the liability for measurement purposes At the end of each annual reporting period, the depreciation under AASB 119. method, useful life and residual value of each asset is reviewed. Any revisions are accounted for prospectively as a change in (k) Critical accounting estimates and judgments estimate. Key estimates - impairment (h) Financial instruments The Philanthropy Australia assesses impairment at the end Financial instruments are recognised initially using trade date of each reporting year by evaluating conditions specific to the accounting, i.e. on the date that Philanthropy Australia becomes Philanthropy Australia that may be indicative of impairment party to the contractual provisions of the instrument. triggers. Recoverable amounts of relevant assets are reassessed using value in use calculations which incorporate various key On initial recognition, all financial instruments are measured assumptions. at fair value plus transaction costs (except for instruments measured at fair value through profit or loss where transaction Key judgments - doubtful debts provision costs are expensed as incurred). No doubtful debt provision has been made at 31 December 2013. Held to maturity investments Held to maturity investments are non derivative financial assets with fixed or determinable payments and fixed maturity. Investments are classified as held to maturity if it is the intention of the Philanthropy Australia’s management to hold them until maturity.
Held to maturity investments are subsequently measured at amortised cost using the effective interest method, with revenue recognised on an effective yield basis. In addition, if there is objective evidence that the investment has been impaired, the financial asset is measured at the present value of estimated cash flows. Any changes to the carrying amount of the investment are recognised in profit or loss. Philanthropy Australia - 2013 Annual Report 39
2 REVENUE AND OTHER INCOME Note 2013 2012 $ $ REVENUE FROM CONTINUING ACTIVITIES ONLINE DIRECTORY AND JOURNAL SUBSCRIPTIONS 88,599 93,592 Member fees 937,484 896,942 Sponsorships, donations and grants 809,705 54,533 Other income (a) 295,467 182,377 Conference income - 348,920
Total Revenue 2,131,255 1,576,364
(a) The Melbourne office rental payment is supported by the generous in kind donation of $100,800 from ANZ. The web development and branding costs were supported by the generous in kind donation of $45,000 from Disegno Group.
3 RESULT FOR THE YEAR The result for the year includes the following specific expenses:
Significant Expenses Conference expenses - 147,172
Employee benefits expense 1,383,292 974,333
4 CASH AND CASH EQUIVALENTS Cash on hand 605 319 Cash at bank 567,899 372,810
568,504 373,129
5 TRADE AND OTHER RECEIVABLES CURRENT Trade receivables 50,791 117,726 GST receivable 7,818 - Other receivables 1,380 1,379
Total current trade and other receivables 59,989 119,105
Financial assets classified as loans and receivables Accounts receivable and other debtors - Total current 59,989 119,105
Total loans and receivables 59,989 119,105 040 Notes to Financial Statements For the Year Ended 31 December 2013
6 OTHER FINANCIAL ASSETS Note 2013 2012 $ $ Held to maturity financial assets 219,770 215,112
Total other financial assets 219,770 215,112
7 PROPERTY, PLANT AND EQUIPMENT PLANT AND EQUIPMENT Furniture, fixtures and fittings At cost 16,039 16,039 Less accumulated depreciation (16,039) (16,039)
Total furniture, fixtures and fittings - -
Office equipment At cost 104,685 103,955 Less accumulated depreciation (98,045) (91,317) Total office equipment 6,640 12,638
Total property, plant and equipment 6,640 12,638
Movements in carrying amounts of property, plant and equipment
Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year
Office Equipment Total Year ended 31 December 2013 Balance at the beginning of year 12,638 12,638 Additions 730 730 Depreciation expense (6,728) (6,728)
Balance at the end of the year 6,640 6,640
Office Equipment Total Year ended 31 December 2012 Balance at the beginning of year 10,628 10,628 Additions 6,976 6,976 Depreciation expense (4,966) (4,966)
Balance at the end of the year 12,638 12,638 Philanthropy Australia - 2013 Annual Report 41
8 OTHER CURRENT ASSETS Note 2013 2012 $ $ CURRENT
Prepayments 12,889 11,693
12,889 11,693
9 TRADE AND OTHER PAYABLES CURRENT Secured Liabilities Trade payables 44,506 5,432 GST payable - 856
Other payables 42,292 47,792
86,798 54,080
10 OTHER FINANCIAL LIABILITIES CURRENT Advance members subscriptions 325,571 311,069 Other advance income 104,389 -
Total 456,960 311,069
11 EMPLOYEE BENEFITS Current liabilities Provision for long service leave 36,439 33,294 Provision for annual leave 43,407 34,047 79,846 67,341
Non current liabilities Long service leave 15,533 27,502 15,533 27,502 042 Notes to Financial Statements For the Year Ended 31 December 2013
12 CAPITAL AND LEASING COMMITMENTS (a) Operating Leases Note 2013 2012 $ $ Minimum lease payments under non cancellable operating leases: - not later than one year 22,178 13,066 - between one year and five years 68,032 -
90,210 13,066
The operating lease relates to rental for office premises in Paddington, New South Wales and Adelaide, South Australia. The lease in Paddington, NSW commenced in January 2012 for a term of 12 month term. The property is currently leased on an on going basis. The lease in Adelaide, South Australia commenced in December 2013 and has a 12 month term to November 2014.
The Melbourne office rental payable is supported by the generous in kind donation from ANZ.
13 FINANCIAL RISK MANAGEMENT
The Philanthropy Australia's financial instruments consist mainly of deposits with banks and accounts receivable and payable. The carrying amounts for each category of financial instruments, measured in accordance with AASB 139 as detailed in the accounting policies to these financial statements are as follows:
Financial Assets Cash and cash equivalents 4 568,504 373,129 Held to maturity investments 6 219,770 215,112 Trade and other receivables 5 59,989 119,105
848,263 707,346
Financial Liabilities Financial liabilities at amortised cost - Trade and other payables 9 86,799 54,080 86,799 54,080
14 KEY MANAGEMENT PERSONNEL DISCLOSURES
The totals of remuneration paid to the key management personnel of Philanthropy Australia during the year are as follows:
Salary and fees 296,854 163,744 Superannuation 26,717 14,737
323,571 178,481 Philanthropy Australia - 2013 Annual Report 43
15 CONTINGENT LIABILITIES AND CONTINGENT ASSETS
In the opinion of the Council Members, the Philanthropy Australia did not have any contingencies at 31 December 2013 (31 December 2012:None).
16 RELATED PARTIES
During the year ended 31 December 2012, Philanthropy Australia Inc. continued with the contract with Te Anau Consulting Pty Ltd for whom David Ward acts as consultant, to provide services in writing of Public Ancillary Fund Trustee and second edition of Trustee Handbook.
Payments to Te Anau Consulting - 16,500
There have been no such payments made to related parties during the year ended 31 December 2013.
17 CASH FLOW INFORMATION
(a) Reconciliation of result for the year to cashflows from operating activities Reconciliation of net income to net cash provided by operating activities:
Surplus/(deficit) for the year (43,030) 76,814 Cash flows excluded from profit attributable to operating activities Non cash flows in surplus: depreciation 6,728 4,966 Changes in assets and liabilities, net of the effects of purchase and disposal of subsidiaries: (increase)/decrease in trade and other receivables 62,334 (57,956) (increase)/decrease in prepayments (1,196) (5,916) increase/(decrease) in income in advance 145,891 27,389 increase/(decrease) in trade and other payables 29,500 25,051 increase/(decrease) in current employee benefits 12,504 7,398 increase/(decrease) in non current employee benefits (11,968) -
Cashflow from operations 200,763 77,746
18 Events Occurring After the Reporting Date No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Philanthropy Australia, the results of those operations or the state of affairs of the Philanthropy Australia in future financial years.
19 ASSOCIATION DETAILS The registered office and principal place of business of the association is:
Philanthropy Australia Level 2 55 Collins Street Melbourne, Victoria 3000 044 Council Members’ Declaration
In the opinion of the committee the financial report as set out on pages 8 to 21: 1. Present fairly the financial position of Philanthropy Australia as at 31 December 2013 and its performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) of the Australian Accounting Standards Board. 2. At the date of this statement, there are reasonable grounds to believe that Philanthropy Australia will be able to pay its debts as and when they fall due.
This statement is made in accordance with a resolution of the committee and is signed for and on behalf of the committee by:
Signed in accordance with a resolution of the Members of the Council:
President: ......
Robert McLean AM
Treasurer: ......
David Ward
Dated Philanthropy Australia - 2013 Annual Report 45 045 Independent Audit Report to the members of Philanthropy Australia
Philanthropy Australia ABN: 79 578 875 531
Independent Audit Report to the members of Philanthropy Australia
Report on the Financial Report
We have audited the accompanying financial report of Philanthropy Australia, which comprises the statement of financial position as at 31 December 2013, the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and management’s assertion statement.
Management’s Responsibility for the Financial Report
Management is responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and Associations Incorporation Reform Act 2012, and for such internal control as management determines is necessary to enable the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Philanthropy Australia ABN: 79 578 875 531
Independent Audit Report to the members of Philanthropy Australia
Opinion
In our opinion, the financial report of Philanthropy Australia is in accordance with the Associations Incorporation Reform Act 2012, including: (i) giving a true and fair view of the association’s financial position as at 31 December 2013 and of its performance for the year ended on that date; (ii) complying with the Australian Accounting Standards Reduced Disclosure Requirements the financial position of Philanthropy Australia as at 31 December 2013, and its financial performance and its cash flows for the year then ended in accordance with Australian Accounting Standards and Associations Incorporation Reform Act 2012.
Saward Dawson Chartered Accountants
Tim Flowers
Partner
Blackburn VIC Philanthropy Australia - 2013 Annual Report 47 047 Certificate by Members of Council
David Ward I,...... , of Philanthropy Australia, certify that:
(a) I am a member of the council of Philanthropy Australia.
(b) I attended the annual general meeting of the association held on ......
(c) This annual statement was submitted to the members of the association at its annual general meeting.
Dated
......
(Council Member) Philanthropy Australia Inc. Melbourne Email: [email protected] Level 2, 55 Collins Street Website: www.philanthropy.org.au Melbourne 3000 Tel: (61 3) 9662 9299 ABN Fax: (61 3) 9622 2655 79 578 875 531 Sydney Incorporated Associated No 120B Underwood Street A0014980T Paddington 2021 Tel: (61 2) 9326 9200
Brisbane Suite7E, Level 7 344 Queen Street Brisbane 4000
Adelaide Suite 912, Level 9 147 Pirie Street Adelaide 5000