College of Business and Law 2020 Annual Donor Report
Associate Director’s message This past year changed our lives and community in extraordinary ways, and its impact was felt keenly at RMIT. Academics made the future of online learning happen now, racing forward to deliver quality education in new and exciting ways. Students responded in kind, swiftly adapting to these new learning styles and succeeding in the face of global change and uncertainty. You also stepped up to the challenges of last year by supporting our Student Hardship and Frontline Scholarships Appeals. In difficult times, it takes the strength of a community to make an impact and you were that community for the many who needed it. Established over 130 years ago through the philanthropic leadership of Francis Ormond, RMIT was built on community generosity. In 2020 alone, you and your fellow donors supported 8,000 relief grants and 400 food and care packages for students in need during the pandemic, 697 philanthropic scholarships and prizes, and 30 tech grants for Vocational Education students. Your commitment to supporting the University is changing lives and those who have benefitted from your kindness are sure to pay it forward in future.
Over the last year, we conducted a thorough review of the RMIT Philanthropy Fund to increase governance and deliver greater strategic growth to maximise your impact at the University. The new fund structure also reflects our ongoing commitment to investments with positive environmental, social and governance characteristics in line with the RMIT Responsible Investment Principles. Therefore, we have exited the Low Carbon Global Shares Fund and invested into a new Sustainable Global Shares ex Fossil Fuels Fund, which excludes companies with fossil fuel reserves, as well as those with significant involvement in fossil fuels. Just as you support RMIT to create better opportunities for our future leaders, we want to be sure that your donation shapes the world for the better too. Thank you for your continued support of RMIT and the students, researchers and staff who make our institution great. We hope you enjoy reading about the incredible impact your generosity has at the University. Amy Harrington Associate Director, Philanthropy RMIT University
Ariana Kikkert
2020 in numbers Total number of philanthropic scholarships issued
611
Recipient of accommodation scholarship
“This Scholarship is a true aid and makes me feel as though it is not just myself being supported, but also my family.”
Scholarship recipients from a low SES background achieved success rates seven percentage points higher than all domestic students who did not receive a scholarship, and eight percentage points higher than low SES students who did not receive a scholarship* *2019 figures
280 College of Design and Social Context
255 STEM College
76 College of Business and Law
$2.8m
30
400
8,000
philanthropic funds disbursed across RMIT
Tech Grants supported for Vocational Education students
students received philanthropically funded emergency food and care packages during the pandemic
relief grants were awarded to students during the COVID-19 crisis, generously supported by donors
366
E-week
184
97%
students supported through the Global Leader Experience online
Jacques Nasser supported Entrepreneurship Week (E-week) to move online
attendees at the online 2020 Impact Series
of scholarship recipients felt their scholarship to be very important or extremely important in supporting them to continue their studies
College of Business and Law Scholarship support helps HR student lead and succeed Recent Bachelor of Business Management (Human Resource Management) graduate Kaila Allison doesn’t believe she would have a career now without the support of the Jacques Nasser Rural and Regional Scholarship. Awarded to Bachelor of Business students who have relocated to Melbourne from a rural or regional area, the Scholarship made it possible for Kaila to focus on her studies and succeed. “Coming from a low socio-economic status family and a rural town, moving to pursue my education was extremely challenging physically, emotionally and financially,” said Kaila. “I knew that, in order to pursue my education, I would need to do it on my own and this Scholarship was really beneficial because it allowed me to relocate and study when I didn’t have the time to support myself with a full-time job.” Previously studying while working full-time had caused Kaila’s grades to slip, but thanks to the Scholarship she achieved “really good grades that I’m proud and grateful for” and is now an HR Coordinator at Hexagon Safety and Infrastructure, a global leader in sensor, software, and autonomous solutions.
“I am so utterly grateful, not only for the financial support the Scholarship provided, but most importantly the opportunity it has unlocked for me to pursue my career goals and aspirations. “Coming into my course, I was quite shy and timid having relocated to a new city at 17, but I’ve seen myself grow into a leader, which made me really confident going into the workforce,” said Kaila. RMIT alumnus Jacques Nasser is passionate about helping students succeed and in their future careers. The former Chief Executive Officer of Ford USA and current Chairman of BHP Billiton, Mr Nasser’s vision is to develop entrepreneurs and entrepreneurial cultures in Australia through scholarship support for RMIT students undertaking studies in the Bachelor of Business program and programs like RMIT Activator’s Social Innovation Hackathon.
College of Business and Law Today’s leaders inspire the next generation RMIT recently held its first entirely digital Global Leadership Forum, inviting more than 3,000 students and staff to hear from visionary not-forprofit, brand and startup leaders tackling the biggest challenges and opportunities we face globally. The Global Leadership Forum is a collaboration between RMIT and Common Purpose, a global leadership organisation devoted to developing leaders in work and society. The event featured 20 masterclasses focusing on leadership, the future world-of-work, physical and mental wellness, cultural intelligence, Indigenous activism, and sustainability. Vice-Chancellor and President Martin Bean CBE opened the event and welcomed the honourable Julia Gillard AC as introductory keynote speaker, as well as Common Purpose CEO, Adi Sengupta. As current Chair of Beyond Blue – Australia’s biggest mental health and wellbeing support organisation – Gillard discussed the importance of having ‘healthy minds in uncertain times’ and how important routine can be. “Before the pandemic, we had a very knowable rhythm to our day. In this period, Beyond Blue is advising people to think about how you can find a structure to your day,” said Gillard. Award-winning artist and RMIT alumnus Vincent Fantauzzo presented the closing keynote and discussed how the world of work was changing.
“The rule book, what the world was in the past, is out the door. It's a time where anyone can achieve anything. If you have love from your family or peers, the people you look up to, if you have their love and support and confidence, you can achieve whatever you want to,” said Fantauzzo. Like many industries, the education sector is undergoing rapid change to prepare students for the changing world of work. Gillard, who was Minister for Education from 2007-10, said education institutions like RMIT are powerful change agents for people of all ages. “RMIT is at the forefront of offering those opportunities to students who don't come from a background of privilege, and that is such a powerful change agent. Education made me what I am today, it opened up a world of opportunity where through those years of education, I came to understand a lot of myself and what I wanted to do." For the past two years, the McCall McBain Foundation has supported the RMIT and Common Purpose partnership through the RMIT Global Leader Experience (GLE). In 2020 alone, the GLE ensured that more than 360 RMIT student worldwide grew their cross-cultural leadership and competency skills. Of these students, 97 per cent felt they could better understand other cultures thanks to the experience and 96 per cent felt better prepared to solve complex problems.
College of Business and Law New toolkit helps young people navigate tricky money discussions Research conducted by RMIT School of Economics, Finance and Marketing’s Dr Jozica Kutin has inspired a new financial capability toolkit helping young people discuss money matters and spot a financially unhealthy relationship quickly. You, Me & Money was developed through a collaboration with youth research organisation YLab and strategic design company Today, as well as funding from the Ecstra Foundation, a grant making organisation committed to building Australian’s financial wellbeing. “Most of us have been raised to avoid discussing money, as it’s seen as impolite. On top of this, young adults tend to prioritise the ‘success’ of a relationship over their wellbeing, which means it’s very easy for them to miss red flags or to get into financial situations they don’t understand the implications of, like cosigning a lease or going guarantor,” said Dr Kutin. “A main goal of You, Me & Money is to normalise the idea of discussing finance with your partner. We’ve not been shy about its importance, either; we’ve outlined how a lack of clear communication or trust between partners can lead to financial abuse.”
To design a toolkit that was interesting to its target audience, RMIT engaged YLab to lead a series of co-design workshops with young adults, discovering what their key concerns and needs for the toolkit were. Today used these insights to develop the brand, experience and website. The finished You, Me & Money website features bright and attractive visuals, and honours inclusivity and web accessibility principles. It also includes an interactive ‘what’s your money style?’ quiz, inviting users better understand their overall money values and approach.
RMIT Philanthropy GPO Box 2476 Melbourne VIC 3001 Australia 03 9925 5220 giving@rmit.edu.au