Macquarie Group Foundation 2023 Annual Review
Global Head's message
We would like to thank the Macquarie Group Foundation Committee members for their valuable contribution and support over the past year, Alex Harvey (Chair), Brett Bingham, Evie Bruce, Sue De Broglio, Stuart Green, Jackie Hamilton, Leigh Harrison, Verena Lim, Shawn Lytle, Bruce Phipson, Paul Plewman and Lynnette Sarno.
Macquarie employees are at the heart of the Foundation’s work.
Our people continued to give their time, money, and skills to the causes they feel passionately about. Macquarie staff alone donated and fundraised $A14.6 million3, a $A2 million increase on the previous financial year. The Foundation doubled the impact of these donations through our matching program, which provides our people with up to $A50,000 in matching each year.
Our people also gave their time, either on their own or as part of a team, through hands-on volunteering or by providing professional expertise, whether serving on the board of a non-profit, participating in a mentoring program or consulting to our non-profit partners. More than $A6.6 million4 in value was contributed through skilled volunteering hours alone. In FY2023 Macquarie also introduced two days per year of paid volunteer leave to further encourage employees to volunteer their time and skills.
Macquarie’s ninth annual Foundation Week, when employees access additional donations for their fundraising and volunteering efforts, saw a total of $A3.2 million contributed to more than 240 non-profits globally. Over 250 initiatives took place across 43 Macquarie offices in 25 countries, with a 9% increase in volunteering events and a $A500,000 increase in funds raised from FY2022 levels.
Each year, the Foundation runs regional initiatives designed to educate employees on the Foundation’s grantmaking focus of reducing barriers to employment and increase engagement with non-profits doing impactful work in this area. These comprise Mentoring Week in the Americas, Better Migration Week in Asia, and Social Mobility Week in EMEA.
When you work for an organisation that supports your volunteer activities and has an active Foundation, it adds an extraordinary dimension to your days at work. It makes your career meaningful in big, and small ways.”
Jamie Chung, Singapore office
As part of our shared value strategy, we're now supporting innovative Macquarie teams helping to solve social issues through existing business models and creating ways to have a deeper social impact.
Recognising that many people around the world face systemic barriers to employment, our grantmaking and social impact investments focus on breaking down these barriers and building effective pathways to employment.
Alongside our focus on breaking down barriers to employment, we have a small number of special grant programs which respond to crises or areas of specific social need.
Two recent programs have been our COVID-19 donation fund grantees, which continued to focus on long-term economic recovery initiatives and our support of communities and families across Ukraine.
We’ve been supporting the five Macquarie 50th Anniversary Award winners, each of whom have been awarded $A10 million, for over three and a half years, and all have continued to make remarkable progress.
Inherent to the Foundation’s grantmaking and social impact investing is a focus on equity. We’ve been working to become a more equitable funder, as well as funding programs that promote a more just society, including through our Racial Equity Fund in the Americas.
Now comprising more than 920 works, our unique corporate Collection is on display in 43 Macquarie offices worldwide. This year, art from the Macquarie Group Collection has been installed in new offices including Japan, Milan and Paris, as well as regularly rotated around the walls of other buildings.
Macquarie Sports continued to provide grassroots sporting opportunities to children in rural and remote communities across Australia throughout the past year. Marking a strategic expansion, it also announced its first two philanthropic grants to sports-focused organisations delivering programs that provide education, training or employment opportunities for young people aged between 12 and 20 in Australia.
Our grant partners are having an impact around the world:
Image credit: Macquarie Group Foundation 2023 Annual Review header image shows Macquarie volunteers hosting a training session with staff from the Youth Sentencing & Reentry Project, Philadelphia.