Perpetual's charitable trusts deliver $12.5m funding
July 12, 2012 (PRLEAP.COM) Business NewsJuly 12, 2012 -Perpetual has announced $12.5 million in funding for not-for-profit (NFP) organisations during its annual funding round, which allocates money from its discretionary trusts to charitable organisations. This allocation is up from $9.1 million in 2011, demonstrating that despite the current economic environment, trusts are still able to provide a vital source of consistent funding.
Andrew Thomas, General Manager Philanthropy at Perpetual, says this year's funding increase reflects both the standing of the company as a pre-eminent provider of services to philanthropists and its ability to enhance their charitable contributions by achieving positive investment returns on the funds within the trusts.
"More philanthropic trusts were established with Perpetual as sole or co-trustee, which has led to an increase in income distributable to the community. Perpetual's prudent financial management has also played a role in ensuring reliable returns, which allows these trusts to continue funding the causes that philanthropists are passionate about," said Mr Thomas.
Social welfare organisations received $4.6 million in funding, comprising 36.7 per cent of all distributions. The education sector received the biggest increase in distributions, up by over 200 per cent, to $1.7 million.
"The marked increase in funding to the education sector reflects an increasing recognition of education as an 'enabler'. Education can be a circuit-breaker in a cycle of poverty and contributes to making a long-term difference in people's lives. Philanthropists are increasingly looking at issues from this strategic perspective to see how their funds can have the biggest impact," said Mr Thomas.
Mr Thomas said that The Smith Family is a good example of an organisation providing important educational services nationally.
"This year we have funded The Smith Family's National Tech Pack Program, which provides disadvantaged families with a refurbished computer, 12 months internet access and the opportunity to participate in a basic computer training course. The aim of this program is to connect families to technology and increase their computer literacy skills. It will help them engage with their community and allows them to take advantage of the educational benefits of internet access," he said.
The funding provided to charities during Perpetual's annual funding yielded distributions from $4,000 to $200,000, with an average distribution of $58,000.
"While this is a large range, not-for-profit organisations are selected for funding based on their ability to deliver real outcomes that have a measureable impact.
The philanthropists we work with are most concerned with understanding the difference that their donation can make, rather than the amount requested," said Mr Thomas.
While the majority of organisations receiving donations plan to use them for activities in Australia, about 15 per cent of the total amount generated by Perpetual's annual funding round will be spent on projects overseas.
"This year we saw a growing interest in both local and international projects. For example, the Australian Cervical Cancer Foundation successfully applied for funding to vaccinate 3,200 Solomon Islands schoolgirls. The successful completion of this project will enable the Solomon Islands to gain the support of The Global Alliance for Vaccination Initiative for a national HPV vaccination program, which will help prevent cervical cancer," said Mr Thomas.
Overall, the $12.5 million from Perpetual's 2012 Funding Round was distributed to 187 organisations for activities across Australia and internationally, in the areas of health and medical research, social welfare and education, environment, arts and culture, and animal welfare.
Information about applications for Perpetual's 2013 funding round will be available in November 2012. Organisations can also register to receive updates at this address.
About Perpetual's annual funding round
Perpetual distributes more than $50 million each year on behalf of the charitable trusts under its management. Many of these trusts give specific directions as to which organisations and activities are to receive funding, and these funds are distributed throughout the year. Perpetual's annual funding round is designed to match organisations in need of funding with those trusts whose funding preferences are not limited to any specific organisation. In Perpetual's 2012 funding round, over $12 million in funding from its discretionary trusts was distributed to over 187 not-for-profit organisations across Australia.
About Perpetual Philanthropic Services
Perpetual is one of the largest managers of private charitable foundations in Australia, with $1.1 billion in funds under management (as at 31 Dec 2011). Perpetual manages charitable trusts and endowments – including Private Ancillary Funds (PAFs) and the Perpetual Foundation – for over 540 clients, supporting medical, social, environmental, religious, cultural and educational causes.
Perpetual Philanthropic Services is part of Perpetual Private, which advises clients on $8.1 billion of funds (as at 31 Dec 2011). The Perpetual Private team of experts offer tailored advice and services and can help clients fulfill their charitable intentions.