John Peden, Foundation Chair
As a Foundation, our charter is to raise, manage and give away money. Leading into the Christmas season, as our thoughts turn to giving, I’d like to share with you the Foundation’s processes around the “giving away” part of our charter; and more specifically, how we work with the College to ensure that there is a disciplined, transparent and accountable system for the granting of scholarships and bursaries. As any critic of big government will readily say; it is easy to give money away, but more difficult to do so responsibly.
Under government regulations, in place since 2012, the Foundation must donate 4% of its net assets to the College each year. Accordingly, in order to continue to grow the Foundation, we must make a return on investment of at least 4% and some, to cover costs and inflation. Over the past year, the Foundation has enjoyed significant investment returns, such that we will be handing over to the College an additional $30,000, over and above the government mandated amount, for the grant of additional awards in 2018.
Additionally, the most recent manifestation of our work has been the online publication of a comprehensive register of all College awards, in an easy to understand format that dovetails into the University’s own sophisticated Bursaries and Awards Program.
The Foundation website not only provides clarity for award applicants but also allows for appropriate recognition to the donors who make it all possible.
Applicants can quickly see which awards they might be eligible for and just as quickly apply by downloading the standardised application form.
Applications are mostly assessed by the hard-working Awards Committee, comprising of Reverend Professor Rodney Wolff (Warden), Jane Williamson (representing the Council) and Cath Parkinson (representing the Foundation).
The committee make recommendations to the Warden, who makes the final decisions.
And finally, it would seem we have a double dose of good news to end the year with the announcement of John Morgan’s return from the United Kingdom to live in Australia. A Welcome Home Dinner is being planned to be held at the College in March. Invitations will be distributed via email in the New Year.
I thank you for your continued support of our Foundation, your contribution to what has ultimately been a wonderful season of giving, and I wish you and your family a merry Christmas.
Cheers to an even better and brighter 2018!