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Annual Report General Purpose Generalfinancial Reportpurpose Financialfor the Year Report Ended For31 Thedecember Year Ended 2018 2018 31 December 2018 Annual Report General Purpose GeneralFinancial ReportPurpose Financialfor the year Report ended For31 theDecember year ended 2018 2018 31 December 2018 SCOTCH COLLEGE FOUNDATION Contents 2 The Work of the Foundation WHAT THE FOUNDATION DOES THE SCOTCH COLLEGE FOUNDATION EST.1973 5 The Scotch College The Scotch College of today is a modern and dynamic Australian school, inspired by the values of our founder, the Reverend James Ensuring Scotch is Foundation Board Forbes, and based firmly on the crucial role we believe education 6 President’s Report plays in empowering young people to take control of their lives. everything it can be The Scotch College Foundation is committed to perpetuating this 8 Principal’s Report vision. The Foundation’s support helps to ensure that Scotch is for every boy. everything it can be for every boy. 10 Executive Director’s Report The buildings and facilities, and the site itself, from which generations 20 Donor Profile of Scotch boys have benefited, are almost entirely the result of the generosity of Scotch families and Old Boys who have gone before. 23 Investment Report Income from fees cannot provide the financial basis for development, and so Scotch relies on the generosity of its community to support its 24 Donor Profile aims and help bring its long-term goals to fruition. Through the Foundation’s various scholarship funds, philanthropy has 26 Development Update also opened the gates to a Scotch education for many boys who would otherwise be unable to attend the School. 28 Foundation Events The Scotch College Foundation also assumes responsibility for the 34 What’s Next? distribution of monies which are raised by the Foundation, or given to it as a body. The operation of the Foundation within the Development 36 Foundation Timeline Office is funded by both the Foundation and the School 38 Foundation Members 46 2018 Donors Philanthropic Vision So much at Scotch has been achieved through the generosity of the 50 Alexander Morrison Scotch Family. The facilities which the current boys enjoy, and the Circle Members majority of scholarship opportunities offered, are largely the result of the generosity of generations who have invested in our boys and 54 Financial Statements their School. In essence, the Scotch of today is largely the result of a longstanding philanthropic commitment by many people. Scotch will continue to be a school where giving sits at the heart of its culture; where our students, Old Boys, staff, parents and past parents Front cover: Senior School boys in the Senior School Quadrangle. are inspired to support programs that resonate with them and, in so doing, make Scotch everything it can be for every boy. Editorial Sandra Dick Scotch College Foundation David Ashton James Grant 1 Morrison Street, Hawthorn Tim Shearer Scott VIC 3122 Patty Wallace- Montgomery Smith Lisa Sheard Phone: +613 9810 4300 Tim Shearer Fax: +613 9810 4334 Philanthropic Principles Photography Patty Wallace- Email: • Every gift helps ensure that Scotch can be everything it can be Rob Anderson Smith [email protected] David Ashton for every boy. Mark Chew • We endeavour to ensure that every dollar donated is directed The Scotch College Foundation Annual Report is produced by as intended. the Scotch College Development Office • We endeavour to safeguard and protect donor information Scotch College, and the Scotch College Foundation, have made and privacy. every effort to ensure the accuracy of this publication. We apologise if any omissions or errors have occurred. • We only pursue gifts that will advance Scotch’s strategic intents or The Scotch College Foundation respects the privacy of its community stated aims. members and is bound by the national Privacy principles under the • We see giving, both to Scotch and to other worthy causes, as a Commonwealth Privacy Act. living expression of the values inculcated at Scotch. For a copy of the School’s Privacy policy please visit the School’s website at www.scotch.vic.edu.au or contact the Development Office • Our fundraising efforts are part of our commitment to stimulating on +61 3 9810 4300. and nurturing authentic life-long relationships with all members of © 2018 Scotch College Foundation the Scotch Family. 2 3 SCOTCH COLLEGE FOUNDATION 2018 The members of the Scotch College Foundation Board play a key role in promoting a positive culture of giving throughout the Scotch Family. The Scotch They provide leadership in respect of philanthropic commitment and, in addition to giving their time and expertise, they actively seek to encourage others to join them in providing philanthropic support for College the School and for the Scotch College Foundation. We thank the members of the Foundation Board and its associated Foundation committees who have given so much in so many ways over the past year. President: Assoc. Prof. Doug Lording (’64) Vice Presidents: Mr Michael Sim (’78) and Mr David Yu Board Executive Director: Mr Tim Shearer (’85) Board Members The Scotch College Foundation Board – 2018 Doug Lording (’64) David Yu Michael Sim (’78) Paul Aberdeen (’86) Mandy Andrianakos Richard Balderstone (’76) PRESIDENT VICE PRESIDENT VICE PRESIDENT BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER (2014-2019) (2011-2019) (2015-2019) (2014-2019) (1996-2019) (2003-2019) John Camuglia David Fox (’88) Rob Hand James Ho (’88) Derek Humphery-Smith Sam Hunt (’92) BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER BOARD MEMBER (2018-2019) (2011-2018) (2014-2019) (2014-2019) (2018-2019) (2015-2019) Kirsten MacLeod Tom O’Brien Michelle Zheng Bill Sides (’63) BOARD MEMBER BOARD MEMBER BOARD MEMBER CHAIR OF BEQUEST (2014-2019) (2014-2019) (2015-2019) COMMITTEE BOARD MEMBER (2015-2019) Ex-Officio SCOTCH COLLEGE FOUNDATION BOARD BACK ROW: SCOTT MONTGOMERY, DEREK HUMPHERY-SMITH, RICHARD BALDERSTONE, ROB HAND, MANDY ANDRIANAKOS SECOND ROW: JOHN CAMUGLIA, SANDRA DICK, Tom Batty Tim Shearer (’85) Ross Congleton (’76) Jonathan Buckley (’83) Louise Murdoch Scott Montgomery (’85) Simon Reichelt LOUISE MURDOCH, REBECCA MORTIMER, TOM O’BRIEN PRINCIPAL FOUNDATION BURSAR SCHOOL COUNCIL BOARD MEMBER OSCA EXECUTIVE FINANCE MANAGER EXECUTIVE DIRECTOR REPRESENTATIVE (2015-2018) DIRECTOR FRONT ROW: MICHELLE ZHENG, DAVID YU, & DIRECTOR ROSS CONGLETON, BILL SIDES, DOUG LORDING, OF DEVELOPMENT TIM SHEARER, KIRSTEN MACLEOD, JAMES HO, SAM HUNT ABSENT: PAUL ABERDEEN, TOM BATTY, JONATHAN BUCKLEY, DAVID FOX, MICHAEL SIM, SIMON REICHELT Development Office Staff The Scotch College Development Office is the registered office of the Scotch College Foundation. David Ashton (’65) Sandra Dick Rebecca Mortimer Lisa Sheard Patty Wallace-Smith Hugh Wilson (’65) DEVELOPMENT BEQUEST PROGRAM FOUNDATION COMMUNICATIONS DEVELOPMENT DEVELOPMENT OFFICER MANAGER COORDINATOR DESIGNER OFFICER OFFICER 4 5 PRESIDENT’S REPORT 2018 Because Scotch never stands still My first full year as President of the I am also delighted to announce that Max The Endowed Funds Allocation Committee, As I mentioned at the start, there is a lot Foundation seems to have passed in a flash. Errington (’56) has made a significant chaired by James Ho (’88), determines happening at Scotch, and the Foundation Like the School itself, there is always a lot commitment to the Scotch College Building which scholarships will be awarded, acting continues to enjoy working with the happening in the Foundation, because Scotch Fund. In recognition of Max’s generosity, the within a set of prudential guidelines. It is Development Office to support the School. never stands still. proposed new Main Oval Pavilion will be important for the Foundation to maintain the We are grateful for the hard work of Tim named in honour of his grandfather, Thomas real worth of the capital in each fund. This Shearer (’85), our Executive Director, who This year the Foundation Board, through Young Robert Anderson, who attended Scotch involves maintaining the capital at the same is also Director of Development, and our our Governance committee, has strongly from 1882 to 1892 and was a member of the proportion of school fees as when the fund staff –Sandra Dick, Rebecca Mortimer, Patty focused on reviewing our rules. The board 1st XI and 1st XVIII in 1890, 1891 and 1892. was established. Some funds have been Wallace-Smith, Hugh Wilson (’65), Lisa Sheard has recommended three-year terms for (Both 1891 and 1892 were premiership years spent down over the years, and we want to and David Ashton (’65). board members and greater flexibility in for the 1st XVIII.) More information about build those funds back to their original worth. making appointments to the board. Other The Foundation’s close relationship with these exciting initiatives will follow as the We also limit the expenditure from a fund to recommended changes will make it easier to OSCA certainly works well, to the benefit year progresses. no more than the estimated income predicted conduct the business of the Foundation. for that year. Along with these important of both organisations. I take opportunity to acknowledge 2018 OSCA President Andrew Associate Professor Doug Lording (’64) In addition, two new levels of membership We have continued to support the Indigenous principles, we want to ensure that the fund Crawford, and OSCA Executive Director Scott SCOTCH COLLEGE have been recommended, most importantly Scholarship Fund. The five-year target (2016 is used, as that is why people commit to the FOUNDATION PRESIDENT Montgomery (’85) and his team, for their that of Foundation Patron, to acknowledge to 2020) was to raise $6M to endow 10 scholarship program, and that the number of contribution to the Foundation’s work. We generous benefactors who commit $1M or scholarships in perpetuity. By the end of 2018, scholarships offered each year is maintained are also most grateful for the staunch support more to Scotch College. All relevant parties $3.5M had been committed to achieving this or increased. goal – a really wonderful effort.
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