Board report 2006

2006 has been a landmark year for the Macquarie Group Foundation, with record funding to not-for-profit organisations, increased community engagement by Macquarie staff, greater international activity and several ground-breaking initiatives.

In the year to 31 March, the Foundation contributed $A8.5 million in grants to 250 not-for-profit organisations, almost double the previous year’s figure. This record funding confirms the Foundation’s position as a leading benefactor to the community sector.

The Foundation is committed to the health of the sector overall, in addition to the support it provides to individual organisations within it. To that end, we are particularly proud of our initiative to establish a new category of funding to build capacity within the not-for-profit sector. This proposal, which arose out of discussions during the Social Innovation Dialogue co-hosted by the Foundation, addresses a major funding gap within the sector and highlights our responsiveness to genuine community need.

Perhaps even more compelling is the community commitment shown by Macquarie staff during the year. Our staff raised more than $A2.7 million for not-for-profit organisations in the year to 31 March, up from $A950,000 the previous year, taking Macquarie’s total community contribution to more than $A11 million.

The Foundation undertook a range of initiatives during the year to encourage this staff involvement. The establishment of a Board Register means we have developed a pool of senior executives who are prepared to serve on the boards of not-for-profit organisations as required.

In addition, we formed new staff Community Advisory Committees in North America, Hong Kong and Korea, while strengthening the European staff committee. These committees, which complement a similar network throughout Australia, empower staff to source and partner with community organisations in their own local communities.

This resulted in a significant increase in international funding provided by the Foundation, which made grants to programs in the United Kingdom, France, Hungary, New Zealand, Canada and the United States. In many instances, these grants were made in support of Macquarie staff already involved with particular community organisations. Indeed, the efforts of Macquarie staff are integral to our overall community involvement, ensuring we contribute our time and expertise, as well as our financial support.

David Clarke