THE ANNUAL REPORT 2011

Pavitra Bharath Babu Krupa Renuka Nirmala Monapa

01

CONTENTS

1.0 Report of Chairman &

Director

1.1 Message from Our CEO

1.2 Message from our

Board Chair

2.0 About the 40K Foundation

2.1 Our Mission

2.2 Our History

2.3 The Storm

2.4 Our Core Values

This publication contains intellectual property belonging to the author of its images.

Please do not reproduce any images without obtaining permission from the author.

All rights are reserved. Copyright 40K Foundation 2012.

Published in 2012 by the 40K Foundation

Suite 202, 90 Pitt Street

Sydney NSW, 2000, Australia

3.0 Our Board

3.1 Governance

3.2 The Board

4.0 Where We Work

5.0 Our Activities

5.1 Our Focus on Education

5.2 Our Focus on Communities

5.3 Our Supporters

5.4 Fundraising & Events

Overveiw

6.0 Financial Statements

7.0 Acknowledgements

8.0 Thank You & Call to Action

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REPORTof Chairman & Director

1.0

CLARY CASTRSSION

I’m not one to hold back: 2011 was

the year that had to happen, but

hopefully a year that will not have to

happen again.

Early in the year, we made the

decision that we would not continue

the partnership with our first partner,

The Lovedale Foundation. After

extensive negotiations across

January and February the two of us

could not reach on an agreement

how the partnership would work. We

agreed that we would help on an

ad hoc basis, through small projects

such as installing the computers and

internet in the school, and installing

the bore well.

The critical mistake that we made

was that we didn’t think too much

about what we would do next. We

threw every bit of energy into raising

the funds and getting the school

opened in time that it didn’t even

occur to us what would happen

after the school opened. It was a

blunder in Strategy 101 but I do not

blame anyone but myself for this-

the organization was founded on

the principles of building the school.

Period. What 40K had become was

beyond our wildest imagination.

When the dust settled on the

opening, we had a critical decision

to make. Firstly, we could say that

we achieved what we intended

to- building a school- and close the

organization down. Secondly, we

could roll out more of the same. Or

thirdly, we could figure out how to

make our impact much bigger.

2011 was the year that we had to

figure that out.

We didn’t want to close it all down-

we’d built such a strong base of

supporters in Sydney, and we

had learnt so much about how to

successfully get projects done in a

1.1 message from our CEO

02

place as unpredictable as India. We

really felt we could leverage both of

these things.

We knew education held such

intrinsic power in altering the course

of a child’s life away from the quarry.

But we also knew that building

schools was not going to be the most

effective way to achieve it. There

were 110 million kids in need of a better

education in India, and rolling out a

$500,000-per-school solution was

going to cost $28 billion dollars.

So 2011 was about trying to learn

about where we could find our

biggest impact. We completely

revised our partnership selection

criteria. We went and found three

new partners; Akshara Foundation,

Dream A Dream, and Hippocampus-

organisations that have proven

themselves over time to be the top

educational NGOs in Bangalore. We

created partnerships that would

see 40K fund the expansion of

their current projects that targeted

literacy, numeracy and life skills.

We had a noble aim of trying to get

them to collaborate more effectively,

but it did not work. We didn’t have

the resource on the ground to deal

with it effectively, and we wrongly

expected organisations who

already had enough on their plate,

to take part in our experiment.

40K has never claimed to know all

the solutions: we’ve just never turned

our back on the real problems. In 2011,

we were embedded in a complete

reinvention but that transition had its toll.

A poorly communicated change of

direction caused anguish and offence

to some of our key supporters and

some of our key volunteers. It also

meant that we had a particularly poor

fundraising year- our worst in 3 years.

The fact that the Big Night Out was not

held did not help this, but the event

needed a break in Sydney. One of our

donors told me that we were at risk of

becoming ‘just another faceless charity,’

and another that we had lost our way.

Looking back, I am so proud that

we stuck it out in the year that was

‘the storm.’

Despite this uncertainty, there were

still a number of key highlights that

were enjoyed by all: The Big Night

Out moved interstate for the first time

to Adelaide.

We were delighted to host the NSW

Premier, Barry O’Farrell and his trade

delegation as visitors to the Banyan

in November. Seeing him read ‘The

Pickled Possum” to the kids was

certainly a sight! It was fantastic to

hear the Premier’s announcement

that there would be a NSW vs

Maharashtra Cricket Match which will

raise funds for us in 2012.

We worked through a partnership

with Deloitte Private which saw

the firm raise a hefty $40,000 for us

through a wonderful Bollywood

event and staff engagement

program. For this I’d particularly like to

thank Tharani Jegatheeswaran and

Mike Stibbard for making it happen.

We launched a new business called

40K Globe, which will see students

spending a month volunteering

at our projects in Bangalore. We

thank in particular the University of

Technology, Sydney, the University

of Wollongong and NSW TAFE:

Sydney Institute for sponsoring

students to participate.

The Big Night Out moved interstate

for its first year to be held in its

inaugural year in Adelaide. The team

led by Jodie Chetcuti, Leda Kalleske

and Nicole Baldwin were fantastic!

I’d like to thank our board for keeping

the helm steady through such a

tough year. I’d also like to thank

our key staff- Pip Steele-Wareham,

Guy Williams, and Lexi Miller, and

volunteers Elyse Trotter, Jodie

Burger, Sally Giblin, Amber Lewis and

the whole research team.

To close, Steve Jobs once said:

“You always have to keep pushing

to innovate. Dylan could have sung

protest songs forever and probably

made a lot of money. But he didn’t. He

had to move on … The Beatles were

the same way. They kept evolving,

moving, refining their art. That’s

what I’ve tried to do- keep moving.

Otherwise, as Dylan says, if you’re not

busy being born, you’re busy dying.”

I believe 2011 was about trying to

‘move on.’ I fully believe that it was

the year that was the taking the

one step back before 2 were taken

forward.

Bring on 2012.

BOB THOMAS

Having joined the 40K Foundation

Board in August 2010 and being

swept up in the euphoria surrounding

the opening of the Banyan School,

it was also clearly obvious that a

new direction was required as a

‘stepping stone’ for the Foundation.

Was it to continue as the builder

of another educational facility or

alternatively, was it to take our

message to potentially the masses

and provide literacy, numeracy and

life skills to children who deserve a

‘chance to be’ ? Indeed the answer

was a simple one to determine!

Not so simple however was our

attempt to establish a working

relationship with like-minded Indian

based charity groups in Karnataka.

Fortunately, after due process, we

were able to establish meaningful

contact with the Akshara Foundation,

Dream a Dream and Hippocampus

who, individually and collectively

1.2 message from our Board Chair

were all offering assistance to

children worthy of emulation.

While very happy to work in

concert with our new partners,

the difficult aspect that arose

was to ‘sell our message’ to the

many 40K supporters who had

most enthusiastically embraced

construction of the Banyan School.

There was no Sydney ‘Big Night Out’

to supplement our fundraising and

the creation of a new vision and

direction always takes time to build

up momentum. To that end the 40K

Foundation was enormously grateful

for the ongoing support of Deloitte

Private and to the creation of a ‘Big

Night Out’ in Adelaide which is very

exciting in terms of expanding the

40K brand. There were also many

previous donors who continued to

provide their most welcome and

much appreciated support.

While CEO Clary Castrission has

indicated in his report that it was

‘the year that had to happen’, it

was also the year where clear

infrastructure was created to

establish an enormously exciting

future. From a Board perspective

the 40K Foundation required

representation ‘on the ground’ and

therefore the appointment of Rachel

Bennett as Country Manager was a

very exciting and positive initiative.

Immediately we became a charity

group with a vital footprint in the

area where support was so critically

required and progress since then

has been a revelation !

To that end, the launching of 40K

Globe has been very exciting as

it is symbolic of our new direction

and has the potential impact

of changing and improving the

lives of thousands of children.

The Foundation is enormously

indebted for the ongoing support

of the University of Technology,

Sydney along with the University of

Wollongong and Sydney Institute

of TAFE who have wholeheartedly

sponsored students for participation

in the ‘40K Globe Project’.

The 40K Foundation has now

repositioned itself to offer

maximum advantage to severely

underprivileged children who will

benefit greatly from our programme.

To that end I congratulate Clary

Castrission and Hamish Griffin for their

tireless efforts, enormous workloads

and wonderful inspiration that they

have continued to provide for all

who support the 40K Foundation.

Bravo! Both gentlemen have also

received outstanding support from

a large number of staff, volunteers

and support personnel who again

combined to present a wonderfully

vibrant organisation throughout 2011.

Finally my sincere thanks are

extended to the Board for their

positive decision making and

expertise in guiding the 40K

Foundation into a position which

ensures a future abounding in

excitement and the potential to

make such a significant difference

in the lives of so many. Long may it

continue !

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“The launching of 40K Globe has been very exciting as it is symbolic of our new direction and has the po-tential impact of changing and improving the lives of thousands of families”

ABOUTThe 40k Foundation

2.0

EDUCATION CHANGES LIVES

40K complements the facilities which

already exist in rural areas, ensuring

equal access to quality education to

all children, and a solid grounding in

literacy, numeracy and life skills- the

basis for empowering them to take

more control over the direction of their

lives and break the cycle of poverty.

When Clary Castrission and Karyn

Avery travelled to India during their

university vacation in 2005, nothing

prepared them for the sight of

hungry, orphaned children, for

whom poverty, domestic abuse

and alcoholism were harsh realities

of everyday life. Compelled to do

something about it, Clary and Karyn

returned to Australia, determined

to make a difference to the lives of

these children, and do what it took

to break the cycle of poverty.

2.1 our mission

2.2 our history

Clary was advised by his law school

mentor that he should “get his hands

dirty,” rather than attempt to tackle

the problem from the corporate ivory

tower and, after seven years, remains

our Chief Executive Officer. In so doing,

Clary and Karyn returned to Sydney

with the idea to build a school outside

Bangalore which they thought would

cost $40,000- hence the name 40K.

The name was kept because we

firmly believe that you need a touch of

youthful idealism if you seriously want

to tackle extreme poverty.

Our maiden project, the Banyan

School, opened its doors in October

2010. Built in partnership with the

Lovedale Foundation in India, this

school now has 180 children enrolled,

and continues to grow from strength

to strength. 40K’s partnership with

Lovedale ended in 2011, as 40K

moved towards a different solution

to the rural education problem in

India, which is now the focus of 40K’s

operation.

Today, 40K maintains an office in

Sydney’s CBD, employing a full-

time CEO and COO, a part-time

fundraising and events officer, and

a variety of committed volunteers.

These are supported by an

experienced Board, composed of

five senior and retired local business

leaders, with a commitment to

making a difference.

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The lessons learnt in the course

of the Banyan project led us to

re-evaluate our strategy and

concentrate on providing high-

impact, quality education in literacy,

numeracy and life skills, through

more efficient channels that are

scalable across India and the rest of

the developing world.

The key lessons learnt through the

building of the school were:

1. PARTNERSHIP CREATION AND

DUE DILIGENCE

Over the course of the five year

relationship with Lovedale, we

learnt so much about cross-cultural

negotiation and partnership

formation and maintenance. Over

the course of the relationship,

however, there were certain

elements that were not working

between the two organisations, and

in the end these differences meant

that each party mutually felt that

2.3 the storm

there was not going to be scope for

a longer term arrangement.

As such, when we took on the task

in early 2011 in finding new partners

to work with, we were certain to

perform much more extensive due

diligence to ascertain whether the

organisations were going to be ones

that we would share a great sense

of joint purpose and chemistry with.

The due diligence for the new set of

organisations went well beyond the

legal checks we did with Lovedale,

but meant spending a lot of time

with a broad range of their staff from

Chairman all the way through to their

cleaners, to test how well we’d be

able to work together.

2. POVERTY: COST-EFFICIENCY

AND SCALE

The school took 5 years and $400,000

to build. In a country where there are

110 million children who need access

to a better education. The solution

of rolling out such expensive schools

was just not going to achieve that.

Hence, 2011, was about finding the

organisations in Bangalore who

had the best reputation in finding

low-cost, scalable solutions to the

education problem in India. The

organisations we found: Akshara,

Dream-A-Dream and Hippocampus

Learning Centres fit the bill. Whilst in

2011, the evolution was never going

to be complete, we were able to

put ourselves in a position where we

were able to learn so much about

scalable and effective solutions to

the education problem.

3. STARTING SMALL

One of the principles of building

businesses that we have learnt is the

idea that you start small, test it, and

if it works (and only if it works!) grow

it. Without having done anything

previously with the Lovedale we took

on a project that was massive and

way beyond our initial capacities.

One of our directors said that it was

like getting married without dating

first. Thus, what we learnt from the

school was that in going forward,

all partnerships and project ideas

would go through extensive trialling

before we got serious about rolling

them out to bigger proportions.

2011 was the year we weathered

the storm of restructuring, trying to

create tangibility within a refocused

education strategy, rather than

by building physical schools. It has

been a difficult year but the lessons

we have taken on board have

strengthened both the foundation

of our platform and our resolve.

“One of the principles of building businesses that we have learnt is the idea that you start small, test it, and if it works (and only if it works!) grow it.”

40K plus program education changes lives

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EXTRA-MILE COMMUNICATIONS

Donor engagement and associated

marketing strategy, ensuring

consistent communications between

donors and the beneficiaries of our

recent activities.

2.4 our core values

SOCIAL ENTREPRENEURSHIP

We strive to be entrepreneurial

in our approach, evaluating our

performance and implementing

change, as appropriate. We aim to

structure sustainable projects that

are socially-responsible in scope

and which can be scaled efficiently,

in order to maximise the benefits

they are designed to achieve.

INNOVATION

As a young organisation we are

very conscious of the need to reflect

upon the outcomes of our activities

and innovating where necessary to

overcome obstacles and achieve

our goals. Our management team

is lean and responsive to change,

allowing us to be adaptable in these

difficult economic times.

“As a young organisation we are very conscious of the need to reflect upon the outcomes of our activities and innovating where necessary to overcome obstacles and achieve our goals.”

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BOARD3.0

Our Board of Directors continues to provide us with much-

needed leadership and strategic direction, ensuring 40K

is governed effectively and complies with the appropriate

regulatory standards.

The minimum number of directors is five. The members of

the Board may appoint any individual as a director. They

meet monthly and are responsible for setting the policies

and strategic direction for the organisation, approving and

monitoring the annual budget, and otherwise monitoring our

performance and financial health.

CHAIRMAN: BOB THOMAS

Former headmaster Knox Grammar,

Preparatory School, Sydney

Bob Thomas is a widely experienced

educator, having worked at Knox

Grammar Preparatory School for 34

years. Bob was the Prep School’s

Headmaster for 20 years until he

retired from the position in 2009.

Bob brings a wealth of knowledge

and understanding from the

educational sector and is currently

involved in assisting other schools,

both in Sydney and overseas to

improve their operations.

COO: HAMISH GRIFFIN

Hamish went to school at Knox

Grammar before undertaking a

degree in Aeronautical Engineering

at the University of Sydney during

which he published articles in the

American Institute of Aeronautics

and Astronautics. During the final

year of his undergraduate degree

he became concerned with

environmental and global issues

and proceeded to undertake

further study completing a Masters

of Environmental Engineering with

Honors in 2008.

Hamish has had a close association

with the 40K Foundation since its

inception in 2005 and became the

systems consultant and financial

operator for ISAREEP ‘08. He joins

Clary as part of the executive team

in the 40K Sydney office.

FOUNDING DIRECTOR AND CEO:

CLARY CASTRISSION

Clary was accidentally turned into

a social entrepreneur when he

was studying law at the University

of Technology, Sydney. His Law

Professor told him to get over to the

developing world and get his hands

dirty. His life took a complete change

and he set up 40K and found himself

getting more and more immersed in

making it work. For his work associated

with 40K, he has been awarded

the Commonwealth Day Award for

Citizenship (2009), the Australia-India

Friendship Award (20011) and was one

of 3 Young Australian of the Year State

Finalist (2011).

Outside 40K, Clary lectures in law at

the University of Sydney and loves

trying to play the piano and the run

the occasional ultra-marathon.

3.1 governance

3.2 the board

Our

“Our Board of Directors continues to provide us with much-needed leadership and strategic direction, ensuring 40K is governed effectively and complies with the appropriate regulatory standards.”

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DIRECTOR: ANDREW HIPSLEY

Senior Vice President – Chief Brand

Officer APMEA, Asia, Pacific, Middle

East and Africa

McDonald’s Corporation

Andrew spent 10 years in sales and

marketing roles with CSR in Sydney

and Melbourne before joining

McDonald’s for a career which

has spanned several areas of the

business and many areas of the

world. In his current role, Andrew

oversees the marketing, menu and

communications functions in the 37

markets and 9,000 restaurants that

McDonald’s operates in Asia, Pacific,

Middle East and Africa. .

DIRECTOR: PETER DUNNE

Senior Partner, Freehills

Peter has specialised in mergers and

acquisitions, private equity and private

capital raisings for 15 years, including 2

years in London working in the Private

Equity group at Ashurst.

Peter has experience across a

range of industries, including financial

services, IT, property and general

industrials.

Recently, Peter was recognised as

a ‘Leading Lawyer’ in Australiasian

Legal Business Magazine and

ranked as one of Australia’s 20

‘Leading Experts’ in private equity

law on ExpertGuides.com.

DIRECTOR: LES SZEKELY

Managing Director, Grand Prix

Capital, Former Tax Consulting

Director, Deloitte Private

Les worked as a solicitor before

teaching commercial and revenue law

at UNSW and then at Sydney University.

Les became a Director of Taxation at

Deloitte Private, where he specialised in

tax planning and transactional work for

high wealth clients. Les has authored

numerous books and is widely quoted

in the media as an authoritative tax

specialist. Since leaving Deloitte, Les has

dedicated himself to angel investing

and mentoring young entrepeneurs

and is actively involved in growing early

stage businesses.

Since leaving Deloitte Les has started

up http://www.grandprixcapital.com.

au/ and dedicated himself full time to

angel investing and mentoring young

entrepreneurs. He holds a number of

directorships and is actively involved

in growing early stage businesses,

especially web base businesses.

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DIRECTOR: GORDON STALLEY

Managing Director, Premier Fire Group

Gordon is a fire protection engineer

and owner and Managing Director of

the Premier Fire group of companies

which has offices in Sydney, Townsville,

Mackay and Brisbane. The group is

one of the largest privately owned fire

protection companies in Australia.

Gordon is NSW President of the National

Fire Industry Association and on a

different note, Chairman of Sport for

Jove Theatre Company, a not-for-

profit company which specializes in

presenting the classics in two annual

festivals and other venues in the

independent theatre sector.

Gordon has been a long-time

supporter of 40K and joined the board

in February 2012.

WHEREWe Work

4.0

All of our current projects are within

and around Karnataka, the south-

western state of India, in which the city

of Bangalore is situated, and where

we built the Banyan school.

However, our ambitions are not

restricted to this part of India. In

India alone, over 110 million children

receive an ineffective primary school

education, and over the coming

years, we intend to scale our offering

efficiently and within a meaningful

timeframe.

4.0 our map

INDIA

THE STATE OF KARNATAKA BANGALORE

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ACTIVITIES5.0

Whilst education is no less valued in

India than anywhere else in the world,

nevertheless some 110 million Indian

children still receive an inadequate

primary school education, a

situation replicated throughout the

developing world. This perpetuates

the cycle of poverty, discouraging

41% of boys and 51% of girls in India

from pursuing their education at

secondary school (UNICEF 2012), in

favour of exploitative labour paying

them less than $1.50 per day.

The opening of the Banyan School

project was a significant milestone

in our journey, towards ensuring

each of these children enjoy the

opportunities and benefits of what a

quality education can bring. However,

The community surrounding the

quarries depend on the demanding

labour of mining granite in difficult

conditions, with rudimentary tools and

little protective clothing. As a result the

workers suffer a range of medical

conditions. Most families live in small leaf-

thatched huts with no electricity, and little

nutritional value in their meagre meals.

Since a consistent and comprehensive

education is impossible under these

circumstances, younger children can

be left idle throughout the day. As they

get older they are sent to work in the

quarries, thus continuing to just barely

survive in impoverished conditions.

5.1 our focus on education 5.2 focus on our communities

Our

it became clear that the focus

needs to be education, rather than

construction.

The new 40K direction aims to

address this, focusing primarily on

complementary education in literacy,

numeracy and life skills.

Education is just one part of

challenging the heritage of poverty,

but it is the most vital in equipping

children with opportunities and

ambitions of a life beyond the quarries.

BARRY O’FARRELL

The NSW Premier, Barry O’Farrell MP,

and his trade delegation visited 40K’s

Banyan school in Bangalore, on Friday,

18th October 2011. He launched the 40K

International Volunteer Program, which

will see 100 NSW university and TAFE

students travel to India each year to

support 40K education projects in

developing communities.

He stated: “this is a great initiative by

UTS, UNSW, Macquarie University,

Wollongong University along with TAFE

NSW to ensure that 100 volunteers a

year come from NSW to support 40K

initiatives across this part of India”

Barry O’Farrell MP said.

We continue to benefit from this

relationship, and 40K will be the

beneficiary of a charity cricket

match, organised by the Premier, in

October 2012.

DELOITTE PRIVATE PARTNERSHIP

We were excited to enter into a formal

partnership with Deloitte Private,

which was designed to engage

their staff in solving a number of our

core business challenges. We had a

number of Deloitte Private staff help

us with challenges around marketing

and communications, social media,

budget and actual recording, and

representing financial information to

our board.

Deloitte Private also organised a

massive Big Night Out-style “Bollywood

Night” whereby 350 staff and friends

of Deloitte Private got together in their

saris and koorthas to raise funds for

40K and the Deloitte Foundation. We

would especially like to thank Tharani

Jegatheeswaran, Mike Stibbard and

the whole engagement team.

5.3 our supporters 5.4 fundraising & events overview

jOE HOCKEY

On 30th August 2011, Joe Hockey

attended our new projects launch,

unequivocally stating: “we need

to export the things that matter for

people hoping to get themselves out

of poverty. Exporting the goodwill of

the Australian people is a key part of

40K- the engagement of Australians

and the development of our

reputation as a caring, passionate,

democracy-loving nation that is

tolerant of the diversity of cultures that

most importantly wants to empower

the poorest of the poor with a good

education.”

SYDNEY RUNNING FESTIVAL

40K had the support of over 70

runners who raised over $40,000 by

running either 42, 21, 9 or 4 kilometres,

not to mention the support from 15

volunteers who helped out at water

stations from 5am!

Much of the event’s participants were

made up of corporate supporters

from various organisations including

Freehills, Colin Biggers & Paisley,

Lazard Asset Management, Clayton

Utz and Brown Wright Stein. A special

mention must be made to Freehills

who also raised an additional $9,000

through corporate matching. We

would also like to acknowledge all

of the individuals who ran for 40K.

JUKEBOX

Jukebox continues as our regular

donors program, supporters making

monthly donations on an ongoing

basis. We would like to extend

our sincere gratitude to all of our

Jukeboxers, their support on a

regular and continuing basis is the

lifeblood of 40K and allows us to

operate smoothly and effectively

day to day.

BIG NIGHT OUT (ADELAIDE)

In 2011, the Big Night Out moved for the

first year to Adelaide. We decided

to give the Sydney event a break

after it had run five straight years. A

team in Adelaide was assembled

by Jodie O’Dea, Nicole Baldwin and

Leda Kalleske who had all been

volunteers with 40K in 2010. The first

Adelaide Big Night Out was held at

the National Wine Centre in Adelaide

and it was a very promising start-

solid foundations were laid for an

even bigger event in 2012. Thank

you Adelaide!

MAJOR DONORS

Our major donors were significant

in 2011. During a time of restructuring,

we really needed our donor base

to be patient whilst we tried to

figure it all out, and to trust that we

were working to find a better way.

Our major donors really stuck with

us through this time, and whilst they

tested us and challenged us at

every step of the way, we are so

thankful that they stood by us.

STATEMENTS6.0

As already elaborated, 2011 was

a year of restructuring, and this is

mirrored in our financial statements.

We consolidated the 40K

Foundation Australia Fund and the

40K Foundation Australia Limited

entities in 2011, to produce the results

tabled on pages 13 and 14. Without

a Sydney BNO last year our sources

of fundraising became much more

heavily weighted towards general

donations and JukeBox.

These numbers have been audited

by Peter Vickers & Associates, who

have been our auditors since 2006,

and who have been approved at

our 2011 AGM to continue to do so.

Fincancial Source of Revenue 2011

Source of Revenue 2010

This year we can report that the 40K

Foundation’s application for full DGR

status has now been approved

and we await only publication in

the Gazette before this becomes

official. This status will vastly improve

our ability to source donations

from Private Ancillary Funds (PAFs)

and High Net Worth Individuals, the

most likely sponsors of our new

Connected Program.

Other Income

Other Income

Other Fundraising Events

Other Fundraising Events

Big Night Out

General Donations

General Donations

Jukebox

Online Fundraising

Grants

Other Donations

Big Night Out

Grants

Other Donations

Jukebox

Online Donations

12

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Consolidated Entity

The 40K Foundation Australia Limited

The 40K Foundation Australia Fund

2011 2010 2011 2010 2011 2010

Revenue Donation and gifts

Fundraising Events 42,951 153,363 27,997 145,753 14,954 7,610

Donations 97,843 108,467 10,858 44,884 86,985 63,583

Online fundraising 47,581 66,575 0 0 47,581 66,575

Recurring donations 28,905 13,810 0 0 28,905 13,810

Grants

3,000 9,482 3,000 9,482 0 0 Other income

Interest 867 393 136 217 732 177

Other income 1,421 2,500 1,421 2,500 0 0

Inter-entity transactions

110,413 5,500

Total Revenue

222,569 354,590 153,825 208,335 179,157 151,754

Expenditure International programs

Lovedale Foundation 0 2,736 0 2,736 0 0

AIDA 24,600 108,000 0 0 24,600 108,000

Akshara 11,875 0 11,875 0 0 0

40K Programs 15,096 0 15,096 0 0 0

Fundraising costs

27,262 88,133 25,940 73,215 1,323 14,918 Accountability and administration

Office Expenses 152,321 72,454 152,321 72,454 0 0

Volunteer Expenses 3,032 1,787 3,032 1,787 0 0

Other 2,436 20,059 974 18,438 1,462 1,621

Inter-entity transactions

110,413 5,500

Total expenses

236,623 293,170 209,238 168,631 137,798 130,039

Excess/(Shortfall) of revenue over Expenditure

(14,054) 61,420 (55,413) 39,705 41,359 21,715

consolidated financial statements

*These incomes or expenses are inter-entity within the group. Therefore they are not shown in the consolidated entity

Note; There were no expenses for community education in 2011 or 2010

No Single appeal, grant or other form of fund raising for a designated purpose generated 10% or more of the organisation’s international aid and development revenue for the financial year.

The full financial report which has been prepared by Peter Vickers (CA) is available on request by emailing info@40k.com.au or calling the 40K office on 02 9221 4030

FROM 40K7.0

ONCE AGAIN, A BIG THANK YOU TO

OUR DEDICATED AND EXCEPTIONAL

VOLUNTEERS

We had 30 dedicated volunteers

who deserve to be acknowledged

for their hard work and commitment

in 2011. They are the lifeblood of our

organisation and we continue to be

extremely grateful for their support and

the donation of their time and skills.

In 2011, our office in Sydney’s CBD was

the hub of all our activities and we

strive to make it an open and inclusive

environment, in which both volunteers

and staff can interact with ease and,

more importantly, have fun.

Corporate support continues to play

a crucial role in our ability to achieve

our ambitious goals, and our deepest

gratitude goes to those businesses

and staff who have demonstrated

commitment to our cause.

Our sincerest thanks go to Freehills,

who continue to provide 40K with

pro-bono legal services, as they

have since 2006, ensuring we remain

compliant with our legal obligations as

a Non-Profit organisation in Australia.

Likewise, the continuing support of

Peter Vickers & Associates, through

the provision of their accounting

expertise, remains vital to our

operational effectiveness.

Acknowledgements

It is because of our volunteers that

40K has managed to weather the

Storm and resume our activities with

renewed vigour, ever-motivated by

the desire to change the lives of

underprivileged children.

Thank you first to Pip Steele-Wareham

who joined us in September as our

Head of Fundraising and Events. Pip

came on board to really systemise

our fundraising, and her passion and

commitment was unwavering. We

would also like to particularly thank our

team leaders this year: Jodie Burger

(research), Guy Williams (fundraising),

Elyse Trotter (projects) and Lexi Miller

(admin). Thank you as well to the

whole team:

We would further like to include Lucy

Squire of Foxtel, who has donated

her time and expertise in assisting us

with public relations advice, whilst the

strategic planning guidance we have

received from Michael Downey has

proven invaluable in negotiating our

way out of the Storm.

Finally, the Sydney Running Festival

saw over 60 people from companies

such as Freehills, Colin Biggers &

Paisley, Corrs Chambers Westgarth,

Lazard Asset Management, Clayton

Utz and Brown Wright Stein add

substantially to our total amount raised.

Adelaide Amy

Guy Williams

Sally Giblin

Amber Lewis

Elyse Trotter

Alex Moore

Angela George

Jodie Burger

Danny Connery

Nicole Baldwin

Marise Kalika

Brad Baldwin

Marieke Evers

Nathan Hauser

Celina Siriyos

Kai-Lin Sze

Matthew Clarke

Jodie O’Dea

Jovana Vasilvejevic

Kate Leung

Leda Kalleske

Lucy Squire

Lucy West

Paridhi Jain

Stacey Packer

Stephanie Rajalingam

Wendy Glasgow

7.1 current volunteers 7.2 key pro-bono supporters

YOU8.0

2011 was a tough year, but one that

was necessary for the organisation to

take further strides forward in the future.

We are grateful for your continued

support and patience in this, our

new direction towards empowering

underprivileged children to aspire to

things greater than the life into which

they have been born. Together we

can work to ensure every child has

access to their fundamental right as

human beings to a childhood and an

education.

Thank

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