NATIONAL NOT-FOR-PROFIT CONFERENCE 2018
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Corporate Engagement, Finance, Good Business, Philanthropy

Westpac Foundation Gets Funding Boost


Thursday, 21st October 2010 at 3:01 pm
Staff Reporter
The Westpac Foundation has been given a $20 million capital boost from the Westpac Group.

Thursday, 21st October 2010
at 3:01 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Westpac Foundation Gets Funding Boost
Thursday, 21st October 2010 at 3:01 pm

The Westpac Foundation has been given a $20 million capital boost from the Westpac Group.

Westpac says the additional cash amount will be invested and income generated will be used to extend the work of the Foundation when it will be re-launched early in 2011.

The Westpac Group Chief Executive Officer Gail Kelly says the Westpac Foundation has built a strong reputation and profile as one of Australia’s leading and innovative foundations.

Kelly says the Foundation's approach to funding projects provides not just dollars, but builds ongoing relationships to enhance the longer-term sustainability and effectiveness of the many organisations the Foundation supports.

She says before this new investment is put to work Westpac will be reviewing the work of the Foundation so that it is able to further extend its support for the community by expanding into other social causes, where disadvantage exists.

The Westpac Foundation is a charitable trust, originally established as the Buckland Fund in 1879, which invests in creating and sustaining social enterprise in disadvantaged communities across Australia as well as assisting the families of deceased or retired Westpac staff in financial hardship.

The Westpac Foundation responds to the needs of disadvantaged communities through programs directed toward early intervention.

Westpac says priority is given to proposals that are innovative and focus on addressing the causes of problems.

Since 1999, the Foundation says over $20m has been awarded in grants to more than 130 organisations which have also benefited from training workshops around project design and evaluation, financial management, planning and accounting.

The main focus has been to ensure that projects supported by the Foundation continue well beyond funding provided.

The Westpac Group also contributes to the work of two other charitable foundations: The St.George Bank Foundation and the BankSA Staff & Charitable Trust Fund.

The additional investment in The Westpac Foundation has been expensed in Westpac’s Full Year 2010 Results.



FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Yes we’re lawyers, but we do a lot more....

Moores

Fantastic digital management app for organisations deliverin...

Ateesa

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

$2 Million Grant Helps Give Australians in Need A Fair Go

Wendy Williams

Thursday, 21st September 2017 at 8:35 am

Westpac Social Innovator Fellowships

Lina Caneva

Tuesday, 1st August 2017 at 10:46 am

$2M Grants to Create Brighter Futures for Australians

Wendy Williams

Monday, 1st May 2017 at 5:08 pm

Businesses of Tomorrow are in Good Company

Wendy Williams

Tuesday, 11th April 2017 at 4:58 pm

POPULAR

Social Enterprise Announces $500,000 Funding for Social and Affordable Housing

Luke Michael

Monday, 15th January 2018 at 11:26 am

People With Severe Mental Illness Struggling With NDIS Transition

Luke Michael

Wednesday, 17th January 2018 at 5:58 pm

ACNC’s Review Submission Met With Concern From Charity Sector

Luke Michael

Tuesday, 23rd January 2018 at 9:33 am

White Ribbon Australia CEO Announces Retirement

Wendy Williams

Wednesday, 10th January 2018 at 5:15 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


NATIONAL NOT-FOR-PROFIT CONFERENCE 2018
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!