PLC FOUNDATION VISION 2050
The PLC Foundation’s underlying purpose is to serve as an independent custodian to provide sustainable financial and fundraising support to PLC Perth. This support is aimed specifically at the advancement of education, improving pedagogical practices and the provision of appropriate facilities. It is the Foundation’s task to ensure there will always be a generation at PLC today, who benefit from the foresight and generosity of generations past. This can either be through Scholarships to girls whose family circumstances would otherwise not allow them access to a PLC education, or through the funding of capital projects. The Foundation has a long-term vision to grow its assets in a US Endowment Fund-type model. The PLC Foundation and the School are closely interlinked. A strong Foundation provides significant funding flexibility and strength to PLC.
Building, Bequest and Scholarship Activities The Foundation is committed to supporting PLC Perth’s vision and Master Plan, which was updated and revised in 2018. Many buildings around the PLC campus demonstrate the past generosity of our community. The Foundation has supported a range of infrastructure projects through successful capital campaigns including the Beth Blackwood Senior School, science, arts and technology, Middle School and the Junior School Swim and Recreation Centre. The Foundation is also very proud to be supporting enrolments and diversity by providing six ongoing scholarships every year to girls who family circumstances would otherwise not enable them to attend the School. In the past three years three generous donors have left bequests to the Foundation valued at more than $2.5 million. These funds are being directed to a hardship scholarship and to build Science, Technology, Engineering and Maths (STEM) activities within PLC. In 2017 we embarked on our first Scholarship Campaign and raised $500,000 in three months, creating five additional one-off scholarships for worthy recipients. At the end of 2018 two families made a donation to the Scholarship fund, which supported another scholarship. In 2019 the Foundation is supporting 12 scholarship students.
Financial Activities The Foundation manages the fundraising activities of the School, including Capital and Scholarship Campaigns, Annual Giving and Bequests, raising $8.2 million since 2004. The Foundation’s primary income driver since 2009 has been 100% of all Acceptance Fees received by the School ($421K in 2016; $600K in 2017 and $650K in 2018). All expenses covering direct administration and campaign costs are paid by the Foundation. This is approximately $100,000 a year. The Foundation Board aims to conservatively invest and grow the funds of the Foundation with an Investment Policy that seeks to preserve the capital of the Foundation and target long-term returns of CPI +3.5%.
The Foundation exists to re-invest back into the School in the form of scholarships, capital programs and lowcost debt funding. The potential returns and benefits to the School compound and increase with the assets of the Foundation. Current Net Assets: Approximately $15 million. •
44% Growth Assets (domestic and international equities, growth alternatives).
•
56% Defensive Assets (domestic and international fixed interest, cash).
The PLC Foundation recently outsourced financial management to Macquarie Private Bank. * A portion of the Acceptance Fee ($200 for every student who enrolls to Year 12) is distributed to the PLC Old Collegian’s Association.
Investment Performance* 18%
Summary Tax deductible support from our PLC community remains critical for the long-term future of PLC Perth.
+15.80%
16% 14%
In the past 15 years the Foundation has contributed $8.2 million to the School for capital works and scholarships.
12% 10%
+9.70% +8.00%
8% +5.50%
6%
+4.90%
It is the Foundation Board’s vision that contributions and re-investment to the School be sourced from income not capital.
+5.50%
4% 2% 0%
0.30% 2012
2013
2014
*(prior to Macquarie outsourcing)
2015
2016
2017
2018
A strong Foundation can also support the School during times of uncertainty or opportunity such as through land or asset acquisitions, during periods of low enrolments, a difficult economic environment or changes in government funding. As the Foundation grows it aims to make increasingly meaningful contributions back to the School. In 2019, these contributions have exceeded the annual acceptance fee funds.
PRESBYTERIAN LADIES’ COLLEGE A COLLEGE OF THE UNITING CHURCH IN AUSTRALIA 14 MCNEIL STREET, PEPPERMINT GROVE WESTERN AUSTRALIA 6011 TEL (08) 9424 6444 | PLC.WA.EDU.AU
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