future2 foundation annual review 2013
Post on 28-Mar-2016
214 Views
Preview:
DESCRIPTION
TRANSCRIPT
the Foundation of the AustralianFinancial Planning Association
Helping to build a brighter future for those most in need
Annual Review 2013
Financial planners giving back to the communities from which they draw their livelihoods.
Why we are here
Future2 exists to make a lasting difference in the lives of those who need it most, giving disadvantaged young people a second chance
and hope for a better future.
What we do
Future2 reaches out to financial planning professionals who have the passion, commitment and social
conscience to help disadvantaged youth realise their potential. Individually and collectively, financial
planners raise funds, identify not-for-profits that are deserving of grants and give their time and
skills to help kids at risk into productive, secure and fulfilling lives.
How we do it
Each year Future2 Make the Difference! Grants are awarded to grassroots
not-for-profits and charities working to give a new start in life to young people who are
doing it tough. Every grant application has the support of a local financial planner.
Future2 is a charitable foundation with deductible gift recipient (DGR) status.
1
Chair’s report2013 was another year of solid progress.
• Fundraising was up on the previous year – though still a considerable challenge. The annual Future2 Wheel Classic attracted high participation from cyclists keen to take on a life challenge in a good cause and total fundraising from this single event was over $140,000;
• The total value of our grants rose to $60,000. As in every successive year, the number and quality of grant applications rose;
• Engagement with the fi nancial planning community continued to build, though we are conscious of a long road before we can claim to embody our vision to be the heart of the profession.
Underlying these achievements was a growing sense among trustees that our strategy to build
alignments with a range of professional and industry associations was not yielding the results we had
hoped for. In February 2013 trustees came to the conclusion that a stronger alignment exclusively
with the Financial Planning Association, the preeminent professional association for fi nancial planners
in Australia, would off er greater potential for engagement and growth.
In May, the boards of Future2 and the FPA signed a two year Memorandum of Understanding to “work together for the betterment of the
Australian community and the enhancement of professionalism among fi nancial planners in Australia”. The FPA played a very important role in
the establishment, administration and management of Future2 in its formative years and my fellow trustees and I look forward to building on that
sound foundation.
2
To express the renewed association and connection between Future2 and the FPA, Future2
changed its tagline to ‘the foundation of the Australian Financial Planning Association’.
Future2 is now the sole identifi ed charity for the FPA and its members. Three positions on
the Future2 board will be fi lled by nominees of the FPA.
Together, Future2 and the FPA have set a target to increase the annual grants to $100,000 by
2015, recognizing the need to build capital accumulation and increase fundraising to achieve this objective.
We welcomed three new Future2 ambassadors during the year, recognizing their commitment to furthering Future2’s vision to be the heart of the
fi nancial planning profession. They are David Haintz in Melbourne VIC, Fabian Ross in Perth WA and Andrew Zietara in Brisbane QLD. David retired
as a trustee in February 2013 and we salute his enormous contribution to Future2 from its earliest days. Our thanks go also to Dominic Alafaci and
Hazel Ruby for their contributions as Future2 ambassadors; both retired during the year.
Steven HelmichChair
the Foundation of the AustralianFinancial Planning Association
3
Building a
Stronger CommunityFuture2 awarded seven grants totaling $60,000 in the 2012 Make
the Diff erence! Grant round. Five were grants of $10,000 to fi rst-time
Future2 grant recipients. Two further grants of $5,000 each were given
to enable the expansion of exceptional programs already part-funded
by Future2. By 30 June 2013, Future2 had made grants totaling
$261,000 to 26 community not-for-profi ts around Australia.
Each year the task facing the Grants Committee and, ultimately, the
trustees, gets more challenging as the number of applications increases
and they demonstrably fulfi ll Future2’s objective to give young people
a second chance for a better future. The fi nal selection of 2012 grants,
out of 42 applications, gave consideration both to the potential of the
project to touch positively the lives of disadvantaged young people
and of the impact that our grant might have on its development and
successful execution.
Recognising the value of sustained support for projects that are well-
managed and highly eff ective, in early 2013 trustees agreed to commit
$10,000 on top of the $50,000 awarded to new grant recipients in
November 2012.
4
BackTrack Youth Works
Armidale, NSW www.backtrack.org.au $10,000 grant for BackTrack AgLads, an education and employment program Supported by: Matthew Meehan, AGBIS Pty Ltd
BackTrack AgLads provides training and work experience in
agriculture to the most at-risk youths in the Armidale community.
Students between the ages of 13 and 24 are enrolled in a Cert II
qualifi cation in Rural Operations and work side by side with local
farmers, gaining experience in shearing, lamb marking, fencing and
hay making. As well as giving vital help to disadvantaged youth, the
program addresses the local skills shortage of rural workers.
Matt Meehan supported the BackTrack grant application. A local
fi nancial planner with AGBIS Financial Planning, he sees the benefi t
of BackTrack fi rsthand. “Many of our farmers fi nd it diffi cult to fi nd
skilled rural workers. We can see that BackTrack off ers a win-win in
addressing the needs of at-risk youth and farmers”, Matt says. The
Future2 grant will give access to the program to 20 more young
people in 2013, contributing to the cost of transporting the students
to farms and for protective clothing and footwear.
BackTrack Youth Works supports 55 young people; of these the
majority is indigenous or from single parent households; nearly half
have answered to a charge in court, and a signifi cant minority have
$10,000 grant for BackTrack AgLads, an education and employment program
agriculture to the most at-risk youths in the Armidale community.
Students between the ages of 13 and 24 are enrolled in a Cert II
qualifi cation in Rural Operations and work side by side with local
farmers, gaining experience in shearing, lamb marking, fencing and
hay making. As well as giving vital help to disadvantaged youth, the
Matt Meehan supported the BackTrack grant application. A local
fi nancial planner with AGBIS Financial Planning, he sees the benefi t
of BackTrack fi rsthand. “Many of our farmers fi nd it diffi cult to fi nd been incarcerated. Most are disengaged from mainstream educational
programs and have little connection to the community.
“The requests from young people and their families to be involved in BackTrack programs come from far and wide and at times there are simply not enough resources available to support every young person in need. … This year two indigenous young men – both AgLads - have been employed by CSIRO as full time trainees.” Bernie Shakeshaft, program manager
5
Bridge Builders Ltd Youth Organisation
Lilydale, VIC www.bridgebuilders.com.au $10,000 grant for Bridging the Gap, a leadership and engagement program Supported by: David Dyson CFP®, Financial Life Balance
Located in a low socio-economic area, Bridge Builders regularly
sees young people of 15-25 years disengaged from projects and
programs due to fi nancial barriers. The organisation bridges this
gap and empowers the young people through a 34-week leadership
program that is designed and delivered by young people. It is built
around the framework of 40 developmental assets necessary to the
development and healthy living of a young person. Weekly education
sessions, a leadership camp and day excursions combine to build
skills and confi dence.
Each participant creates and implements a community-based project
designed to give back to the local community. The young people see
fi rst-hand the value of being a contributor and grow both personally
and emotionally. Local business professionals share their expertise
and mentor the young leaders.
Local fi nancial planner David Dyson CFP, one of many dedicated
volunteers who are passionate about helping young people realise
their talents and capabilities, assists with fi nancial education within
the leadership program.
“Budgeting and goal setting are invaluable skills for young leaders and this is a natural and obvious way in which I can make a contribution to the lives of the these young people who are so vital to the community’s wellbeing”, David says.
6
Byron Bay Community Association
Byron Bay, NSW www.byroncentre.com.au$5,000 top-up grant for the Community Table Café: creating employment through mentoring Supported by Paul Murphy, AdvicePlus Financial Solutions
The additional grant was made for the continuation of a
pilot project set up in 2011. It involves the utilisation of the
Community Table Café to mentor disadvantaged youth in
presentation, punctuality, customer service and complaint
handling while also providing valuable work experience. The
Community Table Café in a busy hub for locals and also caters for
events at the theatre and workshops at the Byron Community
Centre. The grant will enable a nominated Community Table
Café staff member to gain a barista trainers’ certificate so that the
Café may issue barista certificates to young trainees.
Byron Bay Community Association general manager Paul
Spooner responded to the news of the $5,000 grant with the
message: “This is such awesome news! Thank you so much for
having faith in the project, it has been great to be involved with
the Foundation and look forward to continuing the relationship.”
Baptist Union of QLD Community Services Group
Nikenbah, QLD www.glendyne.qld.edu.au $5,000 for the Glendyne Learning Support Program Supported by Shane Bradbury, Professional Investment Services
The additional grant is for the development of the mentoring and learning
support program at Glendyne Education & Training Centre. Many of the
young people at the Centre are severely disengaged and have not attended
school for extended periods of time, sometimes years. As a result, low
levels of literacy and numeracy require an intensive program of individual
daily tutoring to equip them with the skills needed to complete any
meaningful education and/or VET qualifications by the end of Year 12. The
results achieved in the first four months confirmed the overwhelming need
for individual tutoring, showing increases in diagnostic testing of up to
40%. Specially selected learning-support tutors
are also mentors to encourage, guide and
provide the skills necessary for the
students to become actively
re-engaged in education.
7
Save the Children Australia
East Melbourne, VIC www.savethechildren.org.au $10,000 grant for Transition from Detention at Cobham Juvenile Justice Centre NSW, a program for at-risk youth Supported by: Anne Graham CFP®, McPhail HLG Financial Planning
Transition from Detention is a 12-month diversionary youth justice
program that seeks to break the destructive pattern of reoff ending.
It is aimed at young boys aged 15 to 18 who are in detention at the
Cobham Juvenile Justice Centre west of Sydney, the largest juvenile
justice detention centre in the Southern hemisphere. Young people
who end up in detention have most often experienced signifi cant
disadvantage in their lives: 27% were placed in care as a child, only
38% attended school and 87% suff ered a mental illness.
While still in the Centre, vulnerable young men will be helped to get
their lives back on track so they can positively transition back into the
community following their release from detention. Two qualifi ed and
experienced youth workers provide essential life skills for up to 90
boys over 12 months. They learn how to solve problems, make better
decisions, manage anger and develop positive relationships, as well
as more practical issues such as nutrition, personal hygiene, eff ective
budgeting and paying bills. The Future2 funding contributed
to program activity costs, allowing the delivery of life skills and
mentoring sessions for 12 months.
Anne Graham, the fi nancial planner who supported the grant application,
believes in the potential to making a lasting impact in the lives of these
young people.
“An important part of the program is to keep them on track to achieve their release plans. Positive and supportive contact with adults is essential to this.”
8
Southern Youth & Family Services Association
Wollongong, NSW www.syfs.org.au $10,000 grant for New Education, Training, Work Opportunities Resource (NETWORK), an engagement program Supported by: Ray Griffi n, Baiocchi Griffi n Private Wealth Pty Ltd
SYFS’s program aims to support 16 to 24 year olds who are homeless
or similarly disadvantaged, have left school early and are ill equipped
to compete in the employment market. These young people often
need alternative pathways to education, help to re-engage with
mainstream education, support to stabilise their living situations, and
help to develop routines and social and living skills.
The NETWORK program engages the young participants with
mentors to help them overcome personal and structural barriers
to fi nding work. They are guided in developing career goals and a
learning plan and helped to access support systems. They have the
opportunity to explore their interests and establish goals through
exposure to diff erent types of employment.
Ray Griffi n of Baiocchi Griffi n Private Wealth and a trustee of Future2
Foundation, has endorsed this project and is committed to seeing its
success.
“SYFS recently won the 2012 National Homelessness Services Award for excellence in supporting pathways to employment or education. This area of their work is currently mostly self-funded by SYFS through fundraising activities and donations. The Future2 grant will provide invaluable support.”
9
Youth Opportunities Association
Somerton Park, SA www.youthopportunities.com.au $10,000 grant for Personal Leadership, a program to encourage leadership and engagement Supported by: Adrian Zoppa CFP, Hood Sweeney Pty Ltd
For many young people, even those with support systems in
place, the transition to adulthood is complex and diffi cult. They
can struggle to maintain focus and often fi nd themselves shut off
from positive relationships. The Personal Leadership Program (PLP)
facilitates this transition for young disadvantaged students in Year 10,
a critical time in their schooling.
Each program targets 18 students who want to develop themselves
and improve their futures. One day each week during term, the
students meet outside school for a series of activities that are crucial
for life, guided by positive thinking and personal responsibility.
Students are taught a new way of thinking and given the skills and
motivation to achieve their goals.
Adrian Zoppa CFP®, a fi nancial planner with Hood Sweeney, believes
the impact of the program reaches far beyond the young people
who take part, but indirectly benefi ts families, friends and the wider
community. “The result is improved relationships and a better
sense of family connection, less anti-social behaviour and greater
participation in the local community”, he said.
“Before the Youth Opportunities’ program… I wasn’t motivated to go to school or do my work…but after the program I haven’t wagged a day or even a lesson and I have improved so much at school. I now know anything is possible for me in the future and I can achieve anything I set my mind to.”
- A PLP graduate
10
Future2 Make the Difference!
Grants 2007-2012Recipient Project Supporting Financial Planner Grant Value
2007
Access Mildura
Mildura, VIC
New retail training facility to expand employment for disabled and
under-privileged youth in Sunraysia.
Stephen Wait CFP®
FPA Sunraysia Chapter
$10,000
Anglicare at the Magdalen Centre
Adelaide, SA
Nile United Youth Group: project to assist young Sudanese refugees
to integrate into Australian life while retaining their cultural values
and links.
Kerrin Falconer CFP®
FPA SA Chapter
$10,000
SearchLight
Brisbane, QLD
Future2 Financial Success - project to develop the financial and life
skills of young mothers alienated from their families and mainstream
education.
Delma Newton CFP®
FPA Brisbane Chapter
$10,000
2008
Loddon Murray Community Leadership
VIC
Youth leadership development program for north central Victorian
rural communities.
John Daniel
FPA member and LMCLP Board Director
$10,000
Youth Information & Referral Service
Mackay, QLD
Young drivers support program to help socially excluded young people
in Mackay and district gain their drivers licenses and a better chance
of work.
Matthew Stevens & Josh Eisemann
FPA Mackay & District Chapter
$5,000
Anglicare at the Magdalene Centre
Adelaide, SA
Nile United Group and the Young Sudanese Women’s Network - follow
up grant to support development of NUYG and a new program for
young women.
Kerrin Falconer CFP®
FPA SA Chapter
$15,000
Whitelion
Melbourne, VIC
Mentoring program for young offenders and those at risk of custody. David Haintz CFP® $10,000
11
Recipient Project Supporting Financial Planner Grant Value
2009
Police and Community Youth Clubs
Orange, NSW
Music program to give disadvantaged young people their first hands-
on experience of playing a musical instrument and the opportunity of
a music scholarship.
Peter Roan CFP®
FPA Western Division Chapter
$10,000
Time for Kids
Adelaide, SA
Financial Wizards project, to help young parents (16-25 years) of
children in respite care and family support to set up household
budgets and develop financial goals.
Kerrin Falconer CFP®
FPA SA Chapter
$10,000
Youth Off the Streets
Mascot, NSW
Scholarship program to assist 14-21 year olds to reach their full
potential, achieve vocational goals and realise their capabilities.
Scot Andrews and Guy Thornycroft
FPA Sydney Chapter
$10,000
2010
Australian Children’s Music Foundation
North Sydney, NSW
Funding music teachers in the Frank Baxter and ACMENA centres in
NSW, enabling emotionally troubled young people to experience the
positive and creative impact of making music.
John Tutt
FPA Sydney Chapter member
$10,000
Family Resource & Network Support (FRANS)
Croydon, NSW
Financial literacy program offering up to 20 intellectually and
physically disabled 18-24 year olds the opportunity to develop money
skills essential to independent living.
Guy Thornycroft
FPA Sydney Chapter
$10,000
Mission Australia’s Charcoal Lane
Melbourne, VIC
A social enterprise offering work experience, training and support to
Aboriginal and disadvantaged young people in a top end restaurant.
Julian Place CFP®
FPA Melbourne Chapter
$15,000
Galilee
Canberra, ACT
Galilee’s LIFT program for young mothers living in refuges was
expanded to include a Young Woman’s Craft Group, providing
hands-on training in small business management, literacy and
numeracy skills.
Philip Basche
FPA ACT Chapter and Galilee Director
$6,000
Friedrich Ataxia Research Association
Gold Coast, QLD
A joint AFA Foundation - Future2 grant to fund the purchase of two
custom-built wheelchairs for young sisters with Friedrich Ataxia, an
incurable degenerative disease.
Tony Lindley
AFA Member
$5,000
Future2 Grant
$5,000 AFA
Foundation Grant
12
Recipient Project Supporting Financial Planner Grant Value
2011
Australian Children’s Music Foundation
North Sydney, NSW
Funding music teachers in the Frank Baxter and ACMENA centres in
NSW, enabling emotionally troubled young people to experience the
positive and creative impact of making music.
John Tutt
FPA Sydney Chapter member
$5,000
Baptist Union of Queensland Community
Services Group
Nikenbah, QLD
The Glendyne mentoring and youth development program builds
respect and trust between young people from dysfunctional and
disadvantaged backgrounds and their teachers and elders.
Shane Bradbury
AFA Member
$10,000
Blue Mountains Disability Services
NSW
The Mountain Gardens Landscape business was established to provide
training and employment to marginalised youth. A new project,
Stepping Stones, aimed to link volunteers with the young trainees and
enable up to four of them to enrol in Certificate III Horticulture.
Peter Rheinberger
AFA Member
$10,000
(Grant not
awarded due to
failed project)
Byron Community Association Inc
Byron Bay, NSW
The Byron Community Cafe offers mentoring and work experience to
young people seeking to get onto the employment ladder in a region
where youth employment is 10% above the national average.
Paul Murphy
FPA Member
$10,000
Family & Resource Network Support (FRANS)
Croydon, NSW
Financial literacy program offering up to 20 intellectually and
physically disabled 18-24 year olds the opportunity to develop money
skills essential to independent living.
Guy Thornycroft
FPA Sydney Chapter
$5,000
Live Free Tassie
Ellendale, TAS
A financial and life skills training and mentoring program delivered
by local financial planners to young addicts at a residential treatment
centre, aimed at breaking the cycle of welfare dependence.
Andrew Glover
FPA Member
$15,000
13
Total Grants:
$261,000
Recipient Project Supporting Financial Planner Grant Value
2012
BackTrack Youth Works
Armidale, NSW
BackTrack AgLads provides training and work experience in agriculture
to the most at-risk youths in the Armidale community.
Matthew Meehan
FPA Member
$10,000
Baptist Union of Queensland Community
Services Group
Nikenbah, QLD
The Glendyne mentoring and youth development program builds
respect and trust between young people from dysfunctional and
disadvantaged backgrounds and their teachers and elders.
Shane Bradbury
AFA Member
$5,000
Bridge Builders Ltd Youth Organisation
Lilydale, VIC
Bridging the Gap, a leadership and engagement program for Year 10
students.
David Dyson CFP®
FPA Member
$10,000
Byron Bay Community Association Inc
Byron Bay, NSW
The Byron Community Cafe off ers mentoring and work experience to
young people seeking to get onto the employment ladder in a region
where youth employment is 10% above the national average.
Paul Murphy
FPA Member
$5,000
Save the Children Australia
East Melbourne, VIC
Transition from Detention, a 12-moth diversionary youth justice
program seeking to break the destructive pattern of 15-18 year old
boys in detention at the Cobham Juvenile Justice Centre.
Anne Graham CFP®
FPA Member
$10,000
Southern Youth & Family Services Association
Wollongong, NSW
New Education, Training, Work Opportunities Resource (NETWORK),
and engagement program for 16-24 year olds who are homeless or
disadvantaged and unable to complete in the employment market.
Ray Griffi n
FPA Member
$10,000
Youth Opportunities Association
Somerton Park, SA
Personal Leadership Program, to encourage leadership and
engagement among disadvantaged young people in Year 10 who are
transitioning to adulthood.
Adrian Zoppa CFP®
FPA Member
$10,000
Telling storiesFuture2 was delighted to hear in mid 2013 of the inclusion of two Future2 grant recipients’ stories in the Australian Charity Storybook, due for launch in November 2013. The Byron Community Centre and FRANS - Family Resource and Network Support – both submitted entries at the suggestion of Future2. The book, published by the Not For Profi t Foundation is a collection of selected stories and achievements from 30 people, each assisted by a charity or not-for-profi t organisation. Find out more at www.nfpfoundation.org.au.
14
Future2 Wheel Classic 2012
It was another busy year of fundraising, crowned by a hugely successful third annual Future2 Wheel Classic, a 1250 km cycle ride from Sydney to Melbourne. The event accounted for over $141,000 of the year’s total fundraising of $274,000, including around $41,000 in corporate sponsorship from AMP Financial Planning (Gold Partner) and Matrix Planning Solutions (Silver Partner).
The big shift in fundraising during the year was towards sponsorship of individuals who
participated in challenge events – notably the Wheel Classic. Of the $141,000 raised by
the 2012 AMP Future2 Wheel Classic, $100,000 was through the eff orts of the cyclists. Each
one set up a personal fundraising page on Everyday Hero and sought support from friends,
family and colleagues; some created their own fundraising events to boost total donations.
Nearly 40 cyclists participated in the Wheel Classic, 16 of them for the whole 9-day route
and the rest for anything up to 8 days. It was a phenomenal eff ort of muscle and willpower,
from cyclists who covered the spectrum from daily commuters to work (with little training)
to elite amateur athletes.
16
Building the professional ethic at AMP Horizons
During the year four successive intakes of students at AMP Horizons
raised funds for Future2 that were matched by the AMP Foundation.
The creative energies of the provisional fi nancial planners at AMP
Horizons delivered a series of evening events that attracted good
crowds with generous wallets.
Total fundraising during the fi nancial year from these events was
over $32,000. Future2 is very grateful to the students, and to the AMP
executives who continue to manifest their belief in the importance
of professionals giving back to the community from which they draw
their livelihoods.
Countrywide fundraisers backed by financial planners
Around the country, fi nancial planners continued to support Future2
at professional development events and licensee conferences. Notable
among these were the fundraising and profi le building opportunities
at the Godfrey Pembroke annual conference in Queenstown NZ, the
Matrix Planning Solutions conference in Sydney, Pathways Licensee
professional development days in Brisbane, Sydney and Melbourne,
and the AMP Financial Planning conference in Brisbane.
Social gatherings within the fi nancial planning community also
provided fertile ground to tell the Future2 story and to raise funds.
The 2012 Bulls & Bears Ball in Adelaide, now a fi xture in the Rotary
Club and FPA SA Chapter calendar, resulted in a $6,000 donation. The
Future2 committee in WA organized another successful Melbourne
Cup Luncheon, raising $11,900.
17
awards2012 BEST PRACTICE
FPA members support their profession’s foundation
For a second year, FPA members were invited to make a $20 donation to Future2
when renewing their membership for the 2013 year, resulting in funds of over
$19,000. Trustees extend their warm thanks to those FPA members who chose to
support Future2 as their profession’s charitable foundation, making a diff erence to
young people in need around Australia.
Aside from ongoing support in kind with fi nancial management and member communications, the FPA made a generous $30,000 donation
arising from the FPA Leadership Series of lunches in state capitals during October and November 2012.
Future2 Community Service Best Practice Award
We were delighted to join the FPA in recognizing Mark O’Leary CFP® of Eluvia in Melbourne as national winner of the 2012 Future2
Community Service Best Practice Award. The state award winners in the category were:
• NSW: Anthony Tanti CFP®, Tanti Financial Services, Emu Plains
• QLD : Stephen Lowry CFP®, Alman Partners, Mackay
• VIC: Mark O’Leary CFP®, Eluvia, Melbourne
For more about the FPA Best Practice Awards. visit www.fpa.asn.au/awards.
18
Host Event Date Activity Funds Raised
Financial Planning Association
(FPA)
2013 membership renewal donations July 2012 - Donations $19,155
Godfrey Pembroke Annual conference in Queenstown, NZ 15-17 July 2012 Plenary presentation by Philip Basche $4,100
FPA FPA Leadership Series lunches, Melbourne,
Perth, Sydney, Brisbane, Adelaide
Aug-Sept 2012 Future2 presence $30,000
Future2 Peter Bobbin seminars in Canberra and
Bendigo
Sept 2012 Adviser and client seminars $6,000 sponsorship
$4,100 registrations
FPA Melbourne Chapter AFL Grand Final Lunch 24 Sept 2012 Raffle, auction, video of Future2 Wheel Classic $5,800
Pathway Licensee Services Professional development days in Brisbane,
Sydney and Melbourne
Nov 2012 Future2 presentations -
Future2 Western Australia WA Melbourne Cup Luncheon 2 Nov 2012 Fundraising Luncheon $11,900
FPA Advanced Technical Workshops and Award
presentations
28 Nov 2012 Presentation of Future2 grant cheques to VIC
recipients
-
FPA Advanced Technical Workshops and Award
presentations
12 Dec 2012 Presentation of Future2 grant cheques to NSW
recipients
-
AMP Financial Planning Annual Conference in Brisbane 17-19 Jan 2013 Future2 plenary; exhibition stand $1,600
AMP Horizons - intake 20 Future2 fundraising, Waverton Bowling Club 31 Jan 2013 Bowling, raffle -
FPA Ballarat Chapter Golf Day Feb 2013 Raffle $403
AMP Horizons - intake 21 Future2 fundraising - salsa night 18 April 2013 Raffle $3,100 plus matching funds
Matrix Planning Solutions Annual Conference in Sydney 22-23 April 2013 Future2 presentation $4,300
FPA - Rotary Club of Adelaide Bulls & Bears Ball June 2013 Social event and fundraising $6,000
2012-13 profile building and fundraising events
During the year, Future2 welcomed the opportunity to speak, exhibit and raise funds at industry and professional events. We warmly thank the
following for their valued support.
19
Income 2013$
2012$
Donations 180,104 170,280
Activities income
- Auction bids 1,600 1,000
- Raffles 1,870 6,548
- Registrations 63,688 66,396
Sponsorship income 22,000 36,000
Other income 4,635 1,740
Total Income 273,897 281,964
Expenses 2013$
2012$
Administration fees 3,976 1,925
Catering/Venue hire 36,333 33,637
Commission/Fees 7,487 3,881
Equipment expense 0 1,541
Events & registrations 308 4,180
Insurance 4,230 4,435
Legal & accounting 1,432 1,287
Marketing & printing 16,469 34,328
Merchandise 4,960 1,794
Merchant fees 875 875
Other 1,175 159
Employment expenses 63,368 52,500
Stamp duty 196 369
Telephone 458 922
Travel & entertainment 7,687 7,666
Web design & management 13,324 9,022
Total expenses 162,278 158,521
Operating Profit 2013$
2012$
111,619 123,443
Other income 2013$
2012$
Interest income 12,267 7,750
Proceeds from bushfire appeal 0 0
Total other income 12,267 7,750
Other expenses 2013$
2012$
Interest expense 0 1,166
Grants 45,000 42,500
Total other expenses 45,000 43,666
Net surplus 2013$
2012$
78,886 87,527
Financial StatementsAnalysis of Income and Expenditure (for the year ended 30 June 2013) Future2 A.B.N. 43 090 835 227
20
Current Assets Notes 2013$
2012$
Cash and cash equivalents 3 418,701 320,149
Trade and other receivables 4 6,572 41,082
TOTAL CURRENT ASSETS 425,273 361,231
Balance Sheetfor the year ended 30 June 2013
Other Assets Notes 2013$
2012$
Prepayments 9,835 0
TOTAL OTHER ASSETS 9,835 0
TOTAL ASSETS 435,108 361,231
Current Liabilities Notes 2013$
2012$
Trade and other payables 5 0 4,010
TOTAL CURRENT LIABILITIES 0 4,010
TOTAL LIABILITIES 0 4,010
NET ASSETS 435,108 357,221
Equity Notes 2013$
2012$
Founder Commitment 0 1,000
Retained Earnings 435,108 356,221
TOTAL EQUITY 435,108 357,221
21
Notes to the Financial StatementsFor the year ended 30 June 2013
Note 1: Statement of Significant Accounting Policies
The directors of the trustee company have prepared the financial
statements of the trust on the basis that the trust is a non-reporting
entity because there are no users dependent on general purpose
financial statements. The financial statements are therefore special
purpose financial statements that have been prepared in order to meet
the needs of unit holders.
The financial statements have been prepared in accordance with the
significant accounting policies disclosed below, which the directors
have determined are appropriate to meet the needs of members. Such
accounting policies are consistent with the previous period unless
stated otherwise.
The financial statements have been prepared on an accruals basis and
are based on historical costs unless otherwise stated in the notes. The
accounting policies that have been adopted in the preparation of the
statements are as follows:
(a) Cash
Cash includes cash on hand and at banks including at call deposits with banks.
(b) Revenue
Donations and bequests are recognised as revenue when received
unless they are designated for a specific purpose, where they are
carried forward as prepaid income on the balance sheet.
Interest revenue is recognised on a proportional basis taking into
account the interest rates applicable to the financial assets.
Revenue from the rendering of services is recognised upon the delivery
of the service to the customers.
All revenue is stated net of the amount of goods and services tax (GST).
(c) Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount
of GST, except where the amount of GST incurred is not recoverable
from the Australian Taxation Office. In these circumstances the GST is
recognised as part of the cost of acquisition of the asset or as part of
an item of expense. Receivables and payables in the Balance Sheet are
shown inclusive of GST.
22
Notes to the Financial StatementsFor the year ended 30 June 2013
NOTE 2: REVENUE 2013$
2012$
- Donations and sponsorship received 273,897 281,964
- Interest income 12,267 7,750
286,164 289,714
NOTE 3: CASH AND CASH EQUIVALENTS 2013$
2012$
Cash at bank 192,481 104,647
Short term bank deposit 226,220 215,502
418,701 320,149
NOTE 4: TRADE AND OTHER RECEIVABLES 2013$
2012$
CURRENT
Sundry debtors and receivables 6,572 41,082
6,572 41,082
NOTE 6: RETAINED EARNINGS 2013$
2012$
Opening balance of retained earnings 356,221 268,694
Add: Current year surplus 78,887 87,527
Closing balance of Retained Earnings 435,108 356,221
NOTE 5: TRADE AND OTHER PAYABLES 2013$
2012$
CURRENT
Unsecured Liabilities
Total GST Liabilities 0 4,010
0 4,010
DIRECTORS’ DECLARATION OF TRUSTEE COMPANY
The directors of the trustee company declare that the trust is not a reporting
entity and that this special purpose financial report should be prepared in
accordance with the accounting policies outlined in Note 1 to the financial
statements.
The directors of the trustee company, Future2 Foundation Limited declare that:
1. the financial statements and notes, as set out on pages 1 – 4 present fairly
the trust’s financial position as at 30 June 2013 and of the performance for
the financial year ended on that date of the trust in accordance with the
accounting policies outlined in Note 1 to the financial statements;
2. in the directors’ opinion there are reasonable grounds to believe that
the trust will be able to pay its debts as and when they become due and
payable.
This declaration is made in accordance with a resolution of the Board of
Directors of the trustee company.
P. Bobbin, Director S. Helmich, Director
Sydney, 1 October 2013
23
Independent Audit Report to the Trustees of Future2Report on the Financial Report
We have audited the accompanying fi nancial report of Future2 Foundation Limited, which comprises the balance sheet as at 30 June 2013 and the income statement, statement of recognised income and expenditure and cash fl ow statement for the year ended on that date, a summary of signifi cant accounting policies and other explanatory notes and the directors’ declaration.
Directors’ Responsibility for the Financial ReportThe directors of the company are responsible for the preparation and fair presentation of the fi nancial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the fi nancial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditor’s ResponsibilityOur responsibility is to express an opinion on the fi nancial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the fi nancial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the fi nancial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the eff ectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the fi nancial report.
The fi nancial report has been prepared for distribution to members for the purpose of fulfi lling the directors’ fi nancial reporting requirements under the Corporations Act 2001. We disclaim any assumption of responsibility for any reliance on this report or on the fi nancial report to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.
We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.
IndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confi rm that the independence declaration required by the Corporations Act 2001, provided to the directors of Future2 Foundation Limited on 20 September, 2013 would be in the same terms if provided at the date of our audit opinion.
Audit OpinionIn our opinion, the fi nancial statements present fairly, in all material respects, the fi nancial position of Future2 Foundation Limited as at 30 June 2013 and its fi nancial performance and cash fl ows for the year ended in accordance with the Corporations Act 2001 and the Australian Accounting Standards (including Australian Accounting Interpretations) to the extent described in Note 1.
Basis of Accounting and Restriction on Distribution and UseWithout modifying our opinion, we draw attention to Note 1 to the fi nancial report, which describes the basis of accounting. The fi nancial report has been prepared for the purpose of fulfi lling the directors’ fi nancial reporting responsibilities under the Corporations Act 2001. As a result, the fi nancial report may not be suitable for another purpose.
MITCHELL & PARTNERS
Glenn MerchantPartner
Signed in Sydney this 11th day of October 2013.
24
Office Holders
Patron Mrs Gwen Fletcher AM
Gwen Fletcher was awarded the Member (AM) in the General Division of the Queen’s Birthday Honours in 2007 in recognition of her immense contribution to financial planning. She is Future2’s inaugural patron.
Ambassadors Vicky Ampoulos Commonwealth Financial Planning (NSW)
Kevin Bailey CFP® Shadforth Financial Group (VIC)
Philip Basche CFP® Godfrey Pembroke Ltd (ACT & NSW)
Paul Brady CFP® Brady & Associates Financial Services (NSW)
Sarah Brennan Brennan Partners (NSW)
Corinna Dieters Seaview Consulting; Chair of the Future2 Grants Committee (VIC)
Kerrin Falconer CFP® formerly PWM Advisor Services (SA)
David Haintz CFP® Shadforth Financial Group
Ian Heraud CFP® Shadforth Financial Group (VIC)
John Hewison CFP® Hewison Private Wealth (VIC)
Hari Maragos CFP® Victoria Wealth Management (VIC)
Fabian Ross BT Financial Group (WA)
Mark Spiers CFP® BT Financial Group (NSW)
Andrew Zierara AMP Financial Planning, Advice & Services
Future2 ambassadors are financial planning professionals and others closely aligned to the financial planning profession who have been invited to assist the foundation to raise its profile and create a pool of funds for grant-making. They give their time and network of contacts voluntarily to support Future2’s growth and to extend its work in the community.
Trustees Chair
Steven Helmich Director, Advice & Client Solutions, AMP Limited
Peter Bobbin Managing Principal, Rockwell Oliver (Sydney)
Ray Griffin Director, AdviserVoice; Director, Baiocchi Griffin Private Wealth
Michael Neary State Director, NSW Enterprise & Government Nextgen Group
Rob Pedersen CFP® Director, Matrix Planning Solutions
Matthew Rowe CFP® Group Managing Director, Hood Sweeney Pty Ltd
the Foundation of the AustralianFinancial Planning Association
25
top related