FROM THE CHAIR

I wish to record yet again my grateful thanks to all those members of our community who, by their extraordinary generosity, have enabled truly life-changing opportunities for so many young people.

Thank you for your wonderfully generous contributions to the work of the Foundation in 2021. It was another challenging year for many, as we began our emergence from a long COVID winter, and we are incredibly grateful for the ongoing support of our community. The net value of the Foundation’s corpus as at December 31 had grown to almost $71 million (from just under $62 million at end of the previous year), comprising almost $31 million in the Endowment Trust, and just under $40 million in the Scholarship Fund. Donations received totalled $2.3 million (up from $1.4 million in 2020), inclusive of $895,000 in bequests, with donations to the Scholarship Fund, Endowment Trust, and small amounts to both the Building Fund and Library Fund.

A highlight of 2021 was the extraordinary success of our second Giving Day, which raised an astonishing $1,305,570 from 671 donors. My sincere thanks go to all those involved in supporting Giving Day in 2021, including the Board Members who contributed to the Giving Day Working Group, and the 19 call centre volunteers from across our School community. I believe that this excellent philanthropic result reflects the emphasis on stewardship by the Advancement team during the pandemic, when very few events were able to be held and very little active fundraising was possible, and the active involvement of the many volunteers.

Over 90% of donations received in 2021 were directed towards the Scholarship Fund, and I wish to record yet again my grateful thanks to all those members of our community who, by their extraordinary generosity, have enabled truly life-changing opportunities for so many of our young people. There are currently 39 named donor-funded Scholarships supported through the Foundation. A total of 26 scholarship sub funds received donations in 2021, with substantial contributions to the Australian Rural and Regional Scholarship, Jonathan K Breadmore Scholarship, Richard ‘Dick’ Crummer Scholarship, Boz Parsons Scholarship, Jeff Peck and Silver Harris Scholarship, Handbury Family Scholarship,

Gordon Moffatt Scholarship, Moffatt Family Scholarship, Anthony Poolman Scholarship, Pope Family Scholarship for Indigenous Students, Maxwell Herbert Charles Schultz Scholarship and Warrambat Indigenous Scholarship.

In 2021, the Foundation made distributions to the School of $1.5 million, including $1.1 million for Scholarships and Prizes, supporting 36 Scholarships and/or Bursaries, and also contributing funds to assist nine students on Academic or Indigenous Scholarships, and a further 54 students on J. R. Darling Memorial Scholarships. Other benefactions to the School included funding to support the Creative Education programme and Staff Study Awards, including the Frank Callaway Endowment. The Board also approved funding for the employment of a Sustainability Manager for two years, commencing in 2022.

The Biddlecombe Society is for those who have indicated that they have made provision for the School in their Will or intend to do so. The Society continues to go from strength to strength, with 14 new bequests notified in 2021 and membership growing to 223 people. Four bequests totalling $895,000 were received in 2021, accounting for almost one-third of donations received, underlying the importance of a vigorous bequest programme. As I have done on previous occasions, I commend Garry Pierson for his tireless commitment to the flourishing of the Biddlecombe Society.

Foundation membership stood at 982 at the end of 2021, including 21 Eminent Members, with the richly deserved elevation of Bill Ranken (M’72) to this highest category of membership in recognition of his many contributions to the School, among them being Chair of the Foundation for nine years, overseeing the Exceptional Futures Campaign which raised over $30 million, chairing the Allocations and Investments Committee and, with his wife Katharine, establishing the Ranken Family Scholarship. I wish to thank the Directors of the Foundation Board, the two Deputy Chairs Will Jones and Mary Morton, the Committee Chairs – Justin Arter, Chair of the Allocations and Investments Committee, Charlie Sutherland (P’86), Chair of the Biddlecombe Society Committee, and Charles Henry (FB’67), Chair of the Major Gifts and Scholarships Committee – and all Committee Members for their generous and important contributions to the work of the Foundation. The Board elected two new Directors – Vanessa Mahon and Michael Stapleton (P’91). Each brings valuable expertise, and we are delighted to welcome them to the Board.

Significant progress has been made on separating the Scholarship and Endowment Trust Funds, both in respect of Investment Strategy, and into clearly distinct Scholarship and Non-Scholarship pools. The Board and the individual Committees also approved the adoption of Charters for the Allocations and Investments Committee, the Biddlecombe Society Committee, and the Nominations Committee. I am very grateful to the members of these Committees, our Director of Corporate Services, Bronwen Charleson, and our legal advisors for their patient and practical support and assistance.

I would like to record my gratitude to Elissa Gale, Head of Advancement, Brendan McAloon, Director of Community Engagement, and the Advancement team for their outstanding efforts and achievements during 2021. The appointment of Elissa as Head of Advancement in August was another highlight of 2021. Elissa comes from a strong background in philanthropy, most recently at Melbourne University, and brings a wide range of skills, as well as a truly authentic character, to this most important position.

I am indebted to the Principal, Rebecca Cody, the Chair of Council, Paddy Handbury (M’72) and members of the School Council, particularly our Company Secretary and Director of Corporate Services, Bronwen Charleson, Director of Finance and Operations, Fiona Holmes, Management

Four bequests totalling $895,ooo were received in 2021, accounting for almost one-third of donations received, underlying the importance of a vigourous bequest programme.

Accountant, Andrew King, Relationship Coordinator, Helen Beasley, and Josephine Tito, Assistant to the Head of Advancement, for their invaluable and unfailing support during the year.

Finally, I wish to acknowledge the warm-hearted, generous, and kind support of all Members of the Foundation, who through their philanthropy underpin the activities of the Foundation and enable our School to flourish. Without you, there would be no Foundation. With you, we can achieve so much. Thank you.

Penny McBain Chair, Geelong Grammar Foundation