Moriah College Foundation Limited and its controlled entities For the year ended 31 December 2016 Moriah College Foundation Limited ACN 162 505 722 Financial report for the year ended 31 December 2016 y Moriah College Scholarship Fund - ABN 53 701 605 442 y Moriah College Building Fund No.2 – ABN 77 419 506 763 y Moriah College Library – ABN 72 300 620 783 y Moriah College Foundation – ABN 53 670 925 736 Contents Responsible Entities’ Report 1 Auditor’s Independence Declaration 7 Consolidated Statement of Profit or Loss and Other Comprehensive Income 8 Consolidated Statement of Financial Position 9 Consolidated Statement of Changes in Equity 10 Consolidated Statement of Cash Flows 11 Notes to the Consolidated Financial Statements 12 Responsible Entities’ Declaration 19 Independent Auditor’s Report 20 Moriah College Foundation Limited and its controlled entities 1 For the year ended 31 December 2016 Responsible Entities’ Report The Responsible Entities’ of Moriah College Foundation Limited (‘the Foundation’) present their Consolidated Report together with the financial statements for the year ended 31 December 2016 and the Independent Audit Report thereon. Responsible Entities details The following persons were Responsible Entities of the Foundation during or since the end of the financial year. Brian Schwartz AM Stephen Jankelowitz FCA, FAICD BComm, CA, MAICD ŚĂŝƌŵĂŶĂŶĚ/ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞ EŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ ŝƌĞĐƚŽƌ ,ŽŶŽƌĂƌLJdƌĞĂƐƵƌĞƌ Director and Chairman since June 2013 &ŝŶĂŶĐĞΘZŝƐŬŽŵŵŝƚƚĞĞŚĂŝƌ Director since June 2013 Brian is the non-executive chairman of Scentre Group and a non-executive director Stephen is a founding director of Ageis and deputy chairman of Westfield Advisors, a boutique multi-disciplined Corporation. Previously he was chairman of financial services firm specialising in IAG and Insurance Manufacturers of accounting, tax, legal, and family office for Australia Pty Limited from 2010 to 2016, private clients and their entities. Previously non-executive director of Brambles Limited, Stephen was a Director and CEO of a CBD and deputy chairman of Football Federation based Chartered Accounting and Tax Australia Limited for 11 years to end 2015. Advisory practice, where he was employed Brian was chief executive of Investec Bank for 16 years. Stephen is currently the Deputy (Australia) Ltd from 2005 to 2009 and Ernst President of Moriah College, having & Young from 1998 to 2004. Brian was previously served as its Treasurer for 6 years. appointed a Member of the Order of Australia in 2004 and in 2001 he was named Giora Friede Leading CEO for the Advancement of BEconSc Women by the Equal Opportunity for EŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ Women in the Workplace Agency. ŽůůĞŐĞWƌĞƐŝĚĞŶƚ Director since June 2013 Judy Lowy BA Giora’s career spans over 30 years in the EŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ technology and property fields. He is &ŽƵŶĚĂƚŝŽŶWƌĞƐŝĚĞŶƚ currently chairman of the privately-held Invespro Pty Ltd and Ultimate Football Pty ĂŶǀĂƐƐŝŶŐŽŵŵŝƚƚĞĞŚĂŝƌ Ltd. He also serves as a Non-Executive tŝůůƐΘĞƋƵĞƐƚŽŵŵŝƚƚĞĞŚĂŝƌ Director of Zeetings Pty Ltd, ScribblePost Director since June 2013 Pty Ltd, Ramp RFID Pty Ltd and is a Judy is the Founding President of The member of the Advisory Council of Edrolo Pty Ltd. Since November 2012 Giora has Moriah Foundation and a Director of Moriah served as the President of Moriah College and College since 2008. Judy has been involved in has been a Director of the College since 1999. Sydney’s Jewish community for over 25 years in both leadership and fundraising roles and has chaired several highly successful appeals. Moriah College Foundation Limited and its controlled entities 2 For the year ended 31 December 2016 Cheryl Bart AO Bruce Fink BComm, LL.B, FAICD BBus /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ ,ŽŶŽƌĂƌLJ^ĞĐƌĞƚĂƌLJ Director since June 2013 ůƵŵŶŝĞǀĞůŽƉŵĞŶƚŽŵŵŝƚƚĞĞŚĂŝƌ Director since June 2013 Bruce’s career spans over 30 years across various fields in the media and entertainment Cheryl is a lawyer and is currently a Non- industries, including out of home advertising, Executive Director of ME Bank, Football cinema exhibition and television production. Federation Australia, SG Fleet Ltd, Audio He is chair of the privately-held Bickham Pixels Holdings Ltd, TEDxSydney, Invictus Court Group of Companies that has a Games Sydney 2018, Prince's Charities diversified portfolio of investments. Bruce is Australia and the Australian Himalayan the Executive Chairman of Executive Foundation. Cheryl has previously served as Channel Holdings which he co-founded after Independent Non-Executive Chairman of successfully completing the sale of the group’s ANZ Trustees, the Foundation for Alcohol Australian operations in 2016. Executive Research and Education, and the South Channel is a digital communication business Australian Film Corporation. She has also with screens in office towers operating in the served as a Non-Executive Director on the UK, France, Germany, Belgium and Boards of the Australian Broadcasting Holland. Bruce’s philanthropic interests span Corporation, Spark Infrastructure Holdings both health and education in Australia and Ltd, South Australian Power Networks, and a abroad. He is an independent Non-Executive range of corporate, non-profit, and Director of the Children’s Medical Research government business enterprises. She is a Institute serving on several of its sub- member of CEW and YPO-WPO and Patron committees including Finance & Investment, of SportsConnect. Cheryl was appointed an Building Foundation, and Audit & Risk. Officer of the Order of Australia for her Bruce is a Chairman's Council Member of the services to business, cultural development, Australian Chamber Orchestra and he also the community and to sport. serves as the Immediate Past President of the United Israel Appeal NSW. Jeremy Dunkel BComm, GradDipAppFin Ariane Fuchs /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ BAppSc Director since June 2013 /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ Director since February 2016 Jeremy is the Executive Director of the Orion Foundation, the chairman of Youth to Israel, Ariane’s fundraising and development a Director of the Education Heritage experience includes event, marketing and Foundation, a Director of AIJAC, and a sponsorship management at the Children’s Director of Australian Jewish Funders. He is Cancer Institute Australia and for the United a Non-Executive Director of Pengana Israel Appeal NSW. In a voluntary capacity, Capital. Jeremy’s accounting and finance experience includes working for Chase she has served as a Solicitation Chair for the Manhattan Bank, Price Waterhouse, and Annual Benefactors Dinner at The Heschel Taurus Capital. School, New York. Ariane is currently an independent Non-Executive Director of Youth to Israel. © 2015 Grant Thornton Australia Limited. All rights reserved. Moriah College Foundation Limited and its controlled entities 3 For the year ended 31 December 2016 Jonathan Gavshon BComm, MBA (INSEAD) Robert Gavshon /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ BComm, LL.B DĂƌŬĞƚŝŶŐΘŽŵŵƵŶŝĐĂƚŝŽŶƐŽŵŵŝƚƚĞĞ EŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ ŚĂŝƌ ŽƌƉŽƌĂƚĞ^ƵƉƉŽƌƚĞƌƐŽŵŵŝƚƚĞĞŚĂŝƌ Director since February 2016 Director since June 2013 Jonathan is the General Manager of Group Robert migrated to Australia from South Homes Australia, a provider of care and Africa in 1978 where he was a partner in one accommodation for people living with of the largest law firms in that country. He is dementia. Previously Jonathan was Vice a Founder and Director of Quartet Ventures, President in J.P. Morgan's Equity Capital a private equity investor. Robert was a Markets division in New York and an significant shareholder of a number of private Investment Manager at Allegro Funds in and public companies including Barbeques Australia. Jonathan’s community experience Galore, Rebel Sport and Hi-Pages. In the last includes the development, launch and project decade he has been primarily involved in the management of The Shabbat Project in education sector and was a founding NSW/ACT, Executive Committee Member shareholder and chairman of Think: of Jewish Communal Appeal NSW/ACT Education Group and Open Colleges. (JCA), current Co-Chair of Jumpstart and Robert has extensive community experience. Founder and Chairman of The Observership Currently he is a Trustee of the Moriah Program. College Building Fund and a Past President of Moriah College. Ian Fischl /ŶĚĞƉĞŶĚĞŶƚEŽŶͲdžĞĐƵƚŝǀĞŝƌĞĐƚŽƌ Director since June 2013 Resigned 31 December 2016 Ex-Officio Officers John Hamey BEd, MEd (Lead) ŽůůĞŐĞWƌŝŶĐŝƉĂů Appointed in February 2012 Rabbi Benji Levy BA (MediaComm) (Hons) DipEd ĞĂŶŽĨ:ĞǁŝƐŚ>ŝĨĞΘ>ĞĂƌŶŝŶŐ Appointed in March 2013 Joseph Herschel EMFIA, MAICD, MEd.Plus &ŽƵŶĚĂƚŝŽŶŝƌĞĐƚŽƌΘŽŵƉĂŶLJ^ĞĐƌĞƚĂƌLJ Appointed in February 2014 © 2015 Grant Thornton Australia Limited. All rights reserved. Moriah College Foundation Limited and its controlled entities 4 For the year ended 31 December 2016 Principal activities The Foundation was incorporated on 6 June 2013 and began operating on 1 January 2015. The Foundation is a public company limited by guarantee incorporated under the Corporations Act 2001. The sole purpose of the Foundation is to act as trustee of the following entities (“the Foundation”): y Moriah College Scholarship Fund - ABN 53 701 605 442 y Moriah College Building Fund No.2 – ABN 77 419 506 763 y Moriah College Library – ABN 72 300 620 783 y Moriah College Foundation – ABN 53 670 925 736 The four entities where the Foundation acts as trustee were registered as charities with the Australia Charities and Not-for-Profits Commission (“ACNC”)