Finance & Investment

During the financial year the Finance Committee met on four occasions and the Audit & Risk Committee met on two occasions.

MEMBERS OF THE FINANCE COMMITTEE IN 2020–2021 WERE:

Mr Anthony Burgess (Chairman) Mr Charles Goode AC Sir Daryl Dawson AC, KBE, CB, QC (resigned 19 November 2020) Mr Allan Myers AC, QC The Hon Alex Chernov AC, QC Mr Craig Drummond

MEMBERS OF THE AUDIT & RISK COMMITTEE IN 2020–2021 WERE:

The Hon Alex Chernov AC, QC (Chairman) Mr Anthony Burgess Sir Daryl Dawson AC, KBE, CB, QC (resigned 19 November 2020) Mr Charles Goode AC (ex officio)

The Board extend their appreciation to Pitcher Partners who provide audit services to the Foundation and administered entities.

Directors have approved a distribution budget of $36,650,000 for IPF in the 2021–2022 financial year. The corpus of The Ian Potter Foundation is invested in a diversified portfolio including listed investment companies, managed funds and ETFs. The corpus is managed by members of the Finance Committee.

Portfolio market value Distributions Cumulative distributions Distributable income 2019–2020 Future Commitments

COMBINED OPERATING EXPENSES

Operating expenses Operating expenses as a % of distributions made Operating expenses as a % of net Assets

2020–2021 2019–2020 $ $

867,383,147 655,413,427 28,599,110 383m 30,326,306 355m

62,419,446 83,642,148 37,047,937 86,162,320

2021

$2,450,719 8.6% 0.29%

2020

$2,450,637 8.08% 0.37%

1. Note - the distributable income is the total of the investment income and donations.

Included in the 2021 year is a bequest received of $23.74m. 2. Note - future commitments includes current and non-current combined 3. Note - operating expenses includes loss on sale of investments 4. Note - operating expenses as a % of net assets – net assets include grant commitments

THE IAN POTTER FOUNDATION

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