FYA 2013 Annual Report

The Foundation for
Young Australians
Annual
Report 2013
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THE FYA
WAY
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Introduction
Courage. Imagination. Will.
4.3 million young Australians have this.
The Foundation for Young Australians (FYA)
is relentlessly optimistic about young people
and their capacity and capability to envision
and create the nation and the world in which
they want to live and work.
Our mission is to create change with
generations of young Australians.
FYA is the only national independent nonprofit organisation dedicated to all young
people in Australia. Our role is to provide
the tools and connections that equip
them to tackle the world with courage,
imagination and will. This involves finding
and backing young learners, contributors
and changemakers and providing a platform
for engagement on a national scale.
In 2013 FYA did just that. Here’s how.
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Update from FYA Board Chairman,
Robert Milliner
Continuing our evolution
This year has seen another significant stage
in the evolution of FYA as we move to more
intensive implementation of the strategies
discussed in last year’s report.
Unlimited Potential represented the
culmination of our thinking and research
over the last few years of the challenges and
opportunities for developing Australia’s young
people. Our message and commitment was
clearly defined:
“Australia’s challenge is to create a society
in which we sustain our standard of living;
enhance our quality of life; protect and
nurture our fragile environment; actively and
generously contribute to the global family;
and become a lighthouse nation to the world.
It is a great tribute to our CEO, Jan Owen,
and her team that they have been able to
integrate such a comprehensive program
of actions into a complex environment as
we work with young people, not only to
develop their capabilities and capacities, but
to advocate for their inclusion in key social
debates.
We have also had the opportunity for the first
time this year to publicly celebrate, at the
Unleashed Summit and Awards, the many
initiatives and direct actions taken by young
people to advance themselves and their
communities. At a personal level I found it
enormously uplifting to see the sheer passion
and commitment by many young people to
step into situations where they were able
to use their initiative to better the lives of
others. We look forward to the continuing
development of Unleashed as an annual
opportunity both to recognise outstanding
efforts and to celebrate the many ways, big
and small, our younger generation can lead
new responses to our social needs.
To achieve these goals we must prepare
our young people for constant and rapid
economic, social, cultural and environmental
change in Australia and across the region.
We need young Australians to be confident,
connected, enterprising, innovative, optimistic,
On behalf of the Board, may I express
generous and happy.”
our sincere thanks to all of our partners,
supporters and collaborators from the
The focus on the three key attributes of
corporate, government and not-for-profit
young people as learners, changemakers
sectors. Their contributions, passion and
and global citizens now drives not only our
strategy, but the range of activities of the FYA dedication to collaboration reinforce the
team as they work together with our partners, shared commitment we have to developing
our young people and Australian society.
supporters and stakeholders on a more
holistic approach. The expansion of FYA’s
As will be clear from the long list of activities
approach has not only meant the addition of
in the annual report, 2013 has been one
important new partners from both the private
of incredible activity and excitement in
and public sectors, but the ability to engage
taking forward the Unlimited Potential
more broadly in other community actions and
commitments. The Board would like to thank
discussions.
Jan for her continued tremendous leadership
and are delighted that during the year Jan
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committed to another term as CEO of FYA.
At the same time we recognise the amazing
team of committed, determined, diverse and
passionate FYA’ers who, day by day, provide
the direction and support for the programs,
research, collaboration, advice and mentoring
that are critical to achieving the collective
results we have seen this year.
I would like to thank our Board of Directors
and the members of our Audit and
Investment Committees for their selfless
commitment, wisdom and passion for FYA
and our goals. During this year we started
the process of renewing our Board and
Committees, a process that recognises not
only the significant contribution of many of
our Board and Committee members over the
years, but the need to ensure we continue to
bring other perspectives and capabilities to
supporting the goals of FYA.
Ellen, on behalf of your Board colleagues,
our sincere thanks and appreciation for your
contributions and your willingness to share
your wisdom.
Much has been achieved this year, but the
real excitement lies in the opportunity to
continue to develop FYA’s goals and to build
further on the broad and deep collaborations
of this year.
Robert Milliner
FYA Board Chairman
We recognise the substantial contribution of
Ellen Koshland, who will retire from the Board
in 2014, not only to FYA, but as the founder of
the Education Foundation.
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A tribute to retiring FYA Board
Director, Ellen Koshland
Ellen is one of those rare people whose goal
in life is to empower and equip young people
to pursue their diverse dreams and fulfill their
aspirations. She considers this an entitlement
for everybody. And she hasn’t just talked
about it. Ellen has devoted her life to driving
the changes required for schools to meet the
needs of all young people - not just the select
few - to thrive and succeed in today’s world.
Ellen was well ahead of her time when she
established the Education Foundation in the
1980s, which later formed an alliance with
FYA. The Education Foundation set out to
develop school programs that would unleash
the potential of young Australians. Programs
like Cityscape, set up in a major shopping
centre; ruMAD?, the trailblazer for FYA’s
Change It Up; WOW, still flourishing at FYA,
and many other pioneering programs. Ellen
was a visionary in commissioning leading
research on education equity and on new
school funding models. Her work had a
major influence on the school funding model
adopted in Australia this year.
One thing that defines Ellen is her passion for
implementing new measures of education
success. To move beyond tests of basic
skills, to measuring the suite of capabilities
required by all young people to thrive in the
21st Century. Capabilities like collaboration,
creativity and intercultural and ethical
understanding. Her commitment to new
measures for learning success extends to all
young people – here in Australia and globally.
Her investment in the Global Education
Leaders Program brings together education
system leaders from Australia and across the
world to work on the transformation required
to equip young people for their future.
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Ellen has made an enormous contribution to
FYA. She brought to FYA the highly successful
and groundbreaking programs of the
Education Foundation, which reignited FYA’s
work and mission and provided a firm base of
innovation on which to build the FYA we see
today. During her time on the Board, Ellen has
relentlessly driven an agenda of the central
importance of education equity and success
for all. FYA’s establishment of the Centre
for New Public Education is a testament
to Ellen’s leadership, drive and personal
investment.
Ellen Koshland’s passion for young people,
her vision, integrity, drive and humility will
be sorely missed at FYA and we thank her
profoundly for her contribution.
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Update from CEO,
Jan Owen AM
Unlimited Potential
Unlimited Potential, FYA’s proposal for a
new commitment to young Australians, was
launched in Parliament House, Canberra in
March 2013. Unlimited Potential articulates
our collective challenge to build a generation
of young people who are future focused
learners, enterprising changemakers and
confident global citizens.
FYA’s development of, and investment in,
the youth changemaking community was
turbocharged through:
Our National Indigenous Youth Leadership
Academy, sparking 50 young Indigenous
changemakers and their campaigns for
social change to reach tens of thousands
of people
Graduates from IMPACT, our threeyear Indigenous leadership program
in the Northern Territory, successfully
transitioning to university and work
The fifth national cohort of Young Social
Pioneers and alumni coming together at
Unleashed to pitch new social innovations
Change It Up igniting young regional
changemakers from Broome to Horsham.
The year saw FYA, NAB and the Australian
Council for Educational Research wrap up
a hugely successful five-year partnership
on NAB Schools First. We are immensely
proud of the program’s legacy in elevating
the importance of school-community
partnerships – awarding 440 schools more
than $18 million over the life of the initiative.
FYA continues to work with NAB, along
with The Smith Family and the Federal
Government, to support new employer-
led work exposure programs and scale the
delivery and reach of FYA’s Worlds of Work
program. This has set us up for the transition
of all of FYA’s education to employment
programs into a universal careers learning
framework, Beyond the Classroom.
FYA’s Centre for New Public Education
helped convene the not-for-profit community,
principals, parents and organisations to
launch alliances advocating for fairer school
funding, and worked with 8,000 young
Australians to shape their education at a
classroom, school and system level. This
resulted in an Australian first where students
appeared as expert witnesses before the
Senate Inquiry into teaching and learning.
We hosted the inaugural Nexus Australian
Youth Summit, bringing next generation
philanthropists and social entrepreneurs
together to connect and collaborate, and
the national Unleashed Summit and Awards,
celebrating young changemakers at the
Sydney Opera House.
We are proud of substantive new
partnerships launched in 2013 with
organisations that share our vision and
mission with young people:
Samsung Electronics Australia, to bring to
life young people’s ideas for social change
through the co-design of Adappt and
Propeller
Baz Luhrmann and Charles Darwin
University supporting the expansion
of IMPACT to support more young
Indigenous leaders in the NT
Shell, supporting Change It Up and Worlds
of Work
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The Victorian Government, supporting
Change It Up
The Sidney Myer Fund, supporting Young
People Without Borders, FYA’s Asia
engagement strategy
Lottery West to expand FYA into WA.
The Federal Government invested in the
establishment and national roll out of Safe
Schools Coalition Australia, building on the
highly successful Safe Schools Coalition
Victoria model (funded by the Victorian
Government) at Gay and Lesbian Health
Victoria. We are excited to launch this
program in 2014.
Our research team produced the 15th edition
of How Young People are Faring, with new
research partner the National Centre for
Vocational Education Research, which was
delivered to government and corporate
audiences in boardroom sessions across the
country in partnership with KPMG.
I would like to acknowledge and thank our
outstanding FYA Chair, Robert Milliner, and
Board of Directors, our sub-committee
members and the FYA team of staff,
volunteers and interns who all share a
relentless optimism and belief in the courage,
imagination and will of young people in
Australia to shape the communities in which
they live, create meaningful lives and work,
and contribute to our nation and the world in
ways we cannot yet imagine.
Ellen Koshland, who founded the Education
Foundation, will retire in 2014. Ellen has been
a significant contributor to new education
thinking, innovation and philanthropy in
Australia and a great personal supporter. She
will be sorely missed by the FYA Board and
organisation for her energy, creativity and
keen intellect.
Finally, I would like to honour and celebrate
the hundreds of thousands of young
Australians with whom we are privileged to
create change, in small and large ways,
every day.
Jan Owen AM
CEO, FYA
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OUR
WORK
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Learners
To enable young people to
be truly competitive in the job
market, careers learning needs
to start earlier, be embedded in
the curriculum and be actively
connected with business and
industry.
Our aim: to influence and shape the
education and learning experience of
young Australians.
Learners initiatives
Centre for New Public Education:
connecting people and building a fairer and
future-focused education system through
engagement, policy analysis and advocacy.
As part of this important work, we helped
convene the national Need to Succeed
Alliance, which works with education sector
representatives and other not-for-profits to
advocate for needs based funding in schools.
Student ShoutOut: empowering young
Australians to have a voice in their education,
as primary stakeholders.
Worlds of Work (WOW): a national initiative
that builds the skills and beliefs that young
people need to make successful transitions
into life beyond school. Over one intensive
week, WOW takes Year 10 students on a
journey that broadens their view on what
it means to be successful in a changing
job market. While schools offer a range of
career development activities, including
work experience, WOW’s uniqueness
lies in its delivery: young people learning
through experience and immersion, and
with their peers.
Work Inspiration: an Australia-wide,
employer-led campaign that transforms
work experience into Work Inspiration.
Work Inspiration teams up with business
to help young people make informed
and effective decisions about their future
career paths and support their transitions to
further education, training or work, inspiring
in offices, boardrooms and workplaces
across the country.
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Transitioning from school to work
It’s no secret, our working landscape is
changing. There’s a greater emphasis on
study, young people are encouraged to
explore their options and, as a result, full-time
work is entered into at a later age.
partners Social Ventures Australia and
Beacon Foundation to examine how to
integrate a program like WOW into the
curriculum of schools for different year
levels and bring WOW to a school near you.
FYA is changing the conversation on careers
learning. We want to work collaboratively to
help young people and workplaces navigate
the school-to-work transition effectively. We
want our young people to find meaningful,
fulfilling work.
Stay tuned next year for some exciting news!
Our long-running initiative Worlds of Work
(WOW) has proved itself to be a simple yet
powerful model that brings young people
and workplaces together to help young
people learn in ways they like to learn:
through experience and immersion, and
with their peers.
Together with Samsung, FYA extended the
reach of WOW through the development of
a web-based app. The app, to be rolled out
in 2014, will allow young people to engage
with WOW material in an interactive gamelike environment and curate information
they gather about careers. This will allow
participants to continue their career
development experience after the WOW
week. The app will also be made available
to schools so they can independently create
and deliver their own version of the program
without direct FYA involvement.
Facts
In the past three years, WOW has:
Provided 138 weeks of career education
to 3,000 students from more than 80
schools across Australia
Delivered 35 weeks to Indigenous and
refugee young people
Partnered with more than 50 Australian
workplaces and engaged more
than 4,000 workplace volunteers in
conversations with young people about
work, life and success
FYA is also working with education sector
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Changemakers
In our fast-paced, changing
world, who better to turn to
than young people – those on
the cutting edge of technology
and the inevitable driving
force behind a successful,
enterprising and innovating
Australia.
Our aim: to create leaders in the community,
equipping young Australians with innovative
responses to the social, environmental and
cultural issues they currently face.
Changemakers initiatives
Young Social Pioneers: an Australian-first
initiative that uses peer-to-peer learning
to build the next generation of social
entrepreneurs aged 18–28 years.
National Indigenous Youth Leadership
Academy (NIYLA): a national network
inspiring young Indigenous Australians to
lead community-focused and communitydeveloped positive change.
IMPACT: developing the leadership skills of
young Indigenous students in the Northern
Territory, while supporting their academic
and personal development.
Change It Up: sparking the changemaking
potential of regional and rural young
Australians to make their views known
and to act on issues that are important
to them and their communities.
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A long-term engagement
While the rate of young Indigenous students
making transitions into positive future
pathways like employment, study or training
is on the rise, there is still a way to go.
IMPACT is a three-year initiative in the
Northern Territory that creates a community
of young Indigenous students dedicated
to leading change and pursuing future
pathways into work, study and social action.
The IMPACT program begins in Year 10 and
supports students as they complete Year
12 and embark on their transition into work,
study or volunteering, IMPACT develops
young leaders with a stronger connection to
community and cultural identity.
In 2013 Year 12 IMPACT student Chloe stood
on the stage of the Sydney Opera House and
in front of a crowd of 400 people, including
acclaimed director Baz Lurhmann, admitted
that she would not have completed high
school if it were not for IMPACT.
Now a University of New South Wales
student in social work and criminology, when
FYA met Chloe she never imagined that she
could achieve so much.
“I didn’t even think that university was an
option for me, but now I am doing my pre
university program where I love to learn…
Last year I was ready to drop out of school,
but with the support of IMPACT I have now
completed Year 12,” said Chloe.
Chloe’s speech stole the show at the launch
of ‘The Shoot’ a special screening night at
the Sydney Opera House which was hosted
by Baz and new FYA supporter Samsung,
encouraging young Australian filmmakers to
tell their stories.
Facts
100% of IMPACT students have
graduated from school and have
gone on to study, join the workforce or
volunteer overseas.
IMPACT is the only long-term, outof-school Indigenous development
program focusing on social action in
Australia.
IMPACT students maintain an average
school attendance rate of 90% – more
than 20% higher than the Northern
Territory average.
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Contributors
Our young people engage
globally on a daily basis;
building strong connections
with our neighbours in Asia and
the Pacific regions must be a
priority.
Our aim: to transform the worldview of
young Australians through engaging in
Asia and the Pacific.
Contributors initiatives
Young People Without Borders: a structured
journey into volunteering and global
citizenship, which embeds the notion of
contribution and giving back. A popular
aspect of the program is offering three to nine
month volunteering placements in Australia
and the Asia-Pacific region to recent schoolleavers, called a ‘Start Year’.
High Resolves: FYA supports high school
students to become effective citizens and
leaders who are armed with the confidence
and skills necessary to tackle the unique
challenges of the 21st century.
Facts
Volunteering is
changing
Young people are seeking flexible, episodic
volunteering related to an issue rather than a
single organisation. They are also turning to
volunteering to gain an edge in employment.
FYA’s Young People Without Borders offers all
of these things…
Prue Gurnick set out to change the world.
Joining FYA’s Young People Without Borders
program, Prue set out on a cross-cultural
journey to India that opened her eyes and
changed her career path forever.
During the three-month placement, Prue
taught drama, music and art for two months
in a school in Darjeeling, before spending
a month teaching intensive personal
development and spoken English to upper
high school students in Dumka. Through her
time abroad, she discovered the indomitable
spirit of the young people she encountered.
Although Prue set out expecting to ‘change
the world’, she returned to Australia
transformed by the inspiring will and
determination of the young people she met –
for the first time looking at education through
the eyes of the young people she taught.
Prue returned to Australia with an increased
appreciation of the opportunities that a
quality education can offer and is now
studying Social Sciences at Australian
Catholic University and taking a Hindi course
at the Centre for Adult Education.
Latest research shows young
Australians donate more than 16
million volunteer hours, worth $260
million, each month.
Almost 70% of young people
volunteered in 2013 and the large
majority say volunteering changed their
attitudes, outlook or life perspective.
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New to FYA in 2013
Adappt
Adappt is a joint initiative of FYA and Samsung that empowers young
Australians to channel their entrepreneurial spirits and creative talents
into ‘apps for good’, Adappt is a joint initiative of FYA and Samsung that
enables teams of young people to develop and pitch their concept for
an app that addresses a real-world social or environmental challenge.
Adappt is Australia’s first social purpose app development program
specifically for young people.
Immerse
Immerse is a bespoke learning experience for emerging philanthropists
and young corporate leaders who are already engaged in family
philanthropy or corporate social responsibility. FYA provides a tailored
real world development opportunity that helps grow their skills and
fuel their aspirations through contributing to our work.
Our very first Immerse participant, Hunter, started with FYA in 2013.
He has always had a strong interest in giving back to the community,
having grown up in a family that has supported numerous philanthropic
causes. After a six-month placement, Hunter loved it so much at FYA
that he stayed and is now a staff member in our Partnerships team.
“My time in the Immerse program has been a monumental, real world
educational experience and has provided an outstanding opportunity
to become a leader in the field of youth philanthropy,” said Hunter.
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Propeller
Propeller is a joint initiative of FYA and Samsung that provides support
and micro-grants to young people who want to make a difference.
FYA selects inspiring youth-led initiatives from across Australia that
can be easily replicated, showcasing them online via video at www.
propellerproject.com.au, and then encourages other young people
to take up the challenge and re-create these ideas in their own
communities.
Safe Schools Coalition Australia
Australian research shows that young people who identify as same
sex attracted, intersex and gender diverse are one of the most at-risk
groups of young people in relation to violence or abuse. In 2013 FYA
received support from the Australian Government to establish Safe
Schools Coalition Australia. In 2014 FYA will launch the program based
on the successful Victorian model, which has already begun stamping
out homophobia and transphobia in high schools.
Through the program, we will show how school communities across
the country can work together to do what it takes to make a positive
difference in the lives of young people and create the change we all
want to see – safe and inclusive learning environments for all students,
staff and families. Working closely with Safe Schools Coalition Victoria,
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Events
Unlimited Potential
Unlimited Potential is our proposal for a
national commitment to young Australians
and is founded in our relentless optimism and
belief in the courage, imagination and will of
all young people in Australia.
Unlimited Potential provides a strong
platform for ongoing conversation with the
governments of Australia on our thinking and
recommendations for how governments,
key institutions and communities can work
alongside young people to prepare them for
a rapidly changing world. As a result of these
briefings it is our hope that young people can
help shape the places where they live, learn
in ways which help them to succeed and
contribute to this nation and the world in ways
we cannot yet imagine.
Unlimited Potential launched in Canberra
this year and will continue its journey to other
states in 2014.
Unleashed
Giving young people the tools to create
the change they want to see in Australia
and beyond.
FYA hosted its inaugural national event for
young people – designed to ignite social
action and build and showcase Australia’s
young changemakers.
Our two-day event was launched at the
iconic Sydney Opera House, connecting
young people who are making a difference
on a local and national scale.
The exciting event featured the Unleashed
PitchUp, an opportunity for some of
Australia’s best young social entrepreneurs
to showcase their work, and the Unleashed
Awards, which recognise young people
who are driving change in new and
innovative ways.
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Nexus Australian Youth Summit
A global movement of young people working
to increase and improve philanthropy and
social impact in the community.
In 2013 FYA hosted the inaugural Nexus
Australian Youth Summit, which brings
together philanthropists, investors, social
entrepreneurs and allies under the age of 40
from across Australia.
Held in Sydney, Nexus offered participants
opportunities to learn, interrogate and
debate pertinent issues with their peers while
exploring innovative approaches to creating
change and opportunities to collaborate for
greater impact.
The summit aimed to inspire new leadership,
greater generosity and more strategic
investing in social and environmental projects.
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GOVERNANCE
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Our Governance
FYA is a company limited by guarantee,
incorporated under the Corporations
Act 2001. Ultimate responsibility for the
governance of the company rests with
the Board of Directors. This governance
statement outlines how the Board meets that
responsibility.
Specific responsibilities of the Board
The Board has specific responsibility for the
following areas:
Developing FYA’s strategic direction
in conjunction with management and
ensuring it is consistent with the vision for
the organisation
Approving the annual operational plans
and budget
Appointment and remuneration of
Chief Executive Officer and monitoring
performance of the Chief Executive Officer
Approving levels of delegations and
authorities within FYA, including authorities
to enter into legal agreements
Building the profile of FYA and developing
key relationships including supporting
fundraising strategies
Evaluating their own performance as
a Board each year using appropriate
evaluation mechanisms
Approving the appointments of
external auditors and fund managers
recommended by the Audit and Risk
Committee and Investment Committee
respectively
Reviewing and approving the strategy for
managing the corpus recommended by
the Investment Committee
Approving FYA’s audited annual accounts
Appointing appropriate people to the
Board, Committees and Chief Executive
Officer positions
Refining FYA’s governance structures and
processes as required
Annually reviewing, ratifying and reporting
on systems of risk management and
internal compliance and control, codes of
conduct and legal compliance.
These responsibilities are set out in detail
in FYA’s Board Terms of Reference which is
available at:
www.fya.org.au/about/board-andgovernance
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Management’s responsibility
The Board has formally delegated
responsibility for FYA’s day-to-day operations
to the Chief Executive Officer. FYA’s Senior
Leadership Team comprises the Chief
Executive Officer, Chief Operating Officer,
Chief Financial Officer and the Directors of
Research, Partnerships, Communications,
Learners, Contributors and Changemakers.
Board oversight
The Senior Leadership Team has specific
responsibility for the following areas:
The Board oversees and monitors
management’s performance by:
Preparation and implementation of a
strategic plan and an annual business plan
for approval by the Board
Preparation of an annual budget for
approval by the Board
Preparation and implementation of
a financial sustainability model for
three years, five years and longer term
projections for approval by the Board
Preparation of media and stakeholder
communications strategies
Implementation of effective fundraising
strategies to support expanded program
outcomes
Preparation of annual financial statements
and annual report
Report to the Board on delivery of
outcomes agreed in the strategic plan
Appointment of staff
Receiving detailed reports on progress of
operations at each Board meeting
Receiving detailed financial reports on a
monthly basis
Establishing a Finance Committee to
meet with the Chief Executive Officer,
Chief Operating Officer and Chief Financial
Officer monthly to monitor financial
performance and key compliance risks
Assigning responsibility to the audit and
Risk, Investment and Appointments and
Nominations Committees, as set out in
their terms of reference documents. These
Committees are made up of members
with relevant expertise.
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Board members
All Board members are non-executive
Directors and receive no remuneration for
their services. They may be reimbursed for
reasonable costs and expenses incurred in
connection with Board activities.
FYA’s constitution provides an indemnity to
Directors. Appropriate Director’s indemnity
insurance has been put in place.
The company’s constitution specifies:
Board and Committee members receive
written advice of the terms and conditions of
their appointment and complete a structured
induction program when first appointed.
Board and Committee members’ knowledge
of the business is maintained by regular
visits to FYA’s office, invitations to FYA events,
management presentations and access to
continuing education programs as necessary.
The performance of the Board and
Committees and individual members of
each is assessed annually.
There must be no less than seven and no
more than 21 Directors
Directors are appointed for a term of two
years and the maximum term of office is
stated in the Board Terms of Reference as
being six years
That a Chair and Honorary Treasurer will
be elected from among the Directors.
The Appointment and Nominations
Committee oversees the appointment
and induction process for Board and
Committee members. Recommendations for
appointment are made to ensure the Board
has the right mix of skills, experience and
expertise. The company’s members elect
Board members.
The Appointment and Nominations
Committee is also responsible for ensuring
the right mix of Board skills, experience and
expertise are continuously available to FYA
through appropriate succession planning.
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FYA’s Committees
Board of Directors
Investment Committee
Robert Milliner – Chair
Peter Williams – Chair
Peter Williams – Honorary Treasurer
Jon Buckeridge
Marita Cheng
Geoff Cohen
Tim Kenworthy
Andrew Goddard
Kathe Kirby
Ken Liow
Ellen Koshland
Peter Meurer
Danita Lowes
Robert Milliner
Anthony Mackay
Dr. Jenny Proimos
Appointments and Nominations
Committee
Ruchir Punjabi
Robert Milliner
Audit and Risk Committee
Kathe Kirby
David Colliver – Chair
Danita Lowes
Danita Lowes
Jenny Proimos
Robert Milliner
Ruchir Punjabi
Peter Williams
Jan Owen AM (Chief Executive Officer) and
Alecia Rathbone (Company Secretary) attend
Board and Committee meetings as nonvoting members.
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The Chair
Risk management
The Chair of the Board is a Director elected by The Board oversees the establishment,
the Board to hold this position. The duties of
implementation and annual review of FYA’s
the Chair include:
risk management system, which is designed
to protect the organisation’s reputation and
Taking a leading role in achieving FYA’s
mitigate and manage those risks that might
vision and mission
preclude it from achieving its goals.
Managing Board meetings to ensure that
they function effectively, interact with
Management is responsible for establishing
management optimally and fulfil all their
and implementing the risk management
duties
system, which assesses and monitors
Annually ensure that the Board reviews
risks including operational, financial and
governance that relates to its own
compliance risks.
structure, role and relationship to
The Audit and Risk Committee is responsible
management
for monitoring the effectiveness of the
With the CEO, act as FYA spokesperson
risk management system between annual
to the media, government and other
reviews.
organisations.
Auspice policy
During 2013, the Board established an
auspice policy to support FYA in fulfilling
its purpose of assisting young Australians
to reach their full potential. FYA works
with many youth-led or youth-focused
organisations whose work is aligned to
FYA’s. In such cases, FYA may support these
organisations by accepting donations or
grants, or by providing expertise. The auspice
policy sets out how auspice arrangements
can be entered into and managed.
26
Independent advice
Patrons
The Board and Board Committees have
access to advice on legal, investment and
taxation matters. In particular, the Board has
engaged Mercer Investments to advise and
manage the investment portfolio. The Board
has approved risk and return parameters for
the portfolio. Mercer Investments presents a
report to the Investment Committee outlining
its performance each quarter.
There are four patrons of FYA:
Ethical standards and Code of
Conduct
All current Directors, as well as some
past Directors of FYA and its predecessor
organisations, are members and have the
right to vote on matters at the Annual General
Meeting.
Board members, and the whole FYA team, are
expected to comply with laws, and the codes
of conduct of relevant professional bodies,
and to act with integrity, compassion, fairness
and honesty at all times when dealing with
colleagues, young people and our partners.
Mr Brian Burdekin AO
Mr Bill Conn
Mr Brad Lancken
Mr John Ralph AC
Members
Board, Committee members and the whole
team are made aware of FYA’s values, code
of conduct and conflicts of interest policy
during their induction to the organisation and
are provided with a copy of these documents
at that time.
Board review
The Board invites an external consultant to
conduct a Board review from time to time.
The purpose of the review is to identify issues
relating to the skills, behaviour, relationships
or practices that may be inhibiting the Board
from being fully effective. The Board believes
that constructive feedback from an external
expert helps the Board address the nature of
the services and environment within which
FYA operates.
27
Our finances
This financial report is an extract from the audited financial statements
for FYA for the year ended 31 December 2013. The full audited financial
statements and directors’ report are available at www.fya.org.au
4%
3%
2%
Sources of Income
Corporate Sector
8%
32%
Investments
Government
Trusts & Foundations
25%
Program Fees
Donations
26%
3%
2%
Consulting Fees
1%
Areas of Expenditure
6%
7%
Personnel
Programs
57%
24%
Other
Scholarships & Grants
Research
Investments
Depreciation
28
The Foundation for Young Australians statement of financial position
As at 31 December 2013
In Australian Dollars
2013
2012
Cash and cash equivalents
1,544,832
183,894
Trade and other receivables
1,319,287
1,111,726
Term deposits
108,534
108,534
Other financial assets
1,500,000
1,000,000
Other assets
102,829
21,358
Total current assets
4,575,482
2,425,512
Other financial assets
49,534,660
44,695,422
Property, plant and equipment
2,654,027
2,711,074
Total non-current assets
52,188,687
47,406,496
Total assets
56,764,169
49,832,008
Trade and other payables
667,330
355,496
Deferred income
3,172,621
1,353,997
Provisions
243,284
196,167
Total current liabilities
4,083,235
1,905,660
Deferred income
115,323
658,633
Provisions
36,083
18,447
Total non-current liabilities
151,406
677,080
Total liabilities
4,234,641
2,582,740
Net assets
52,529,528
47,249,268
Retained earnings
52,529,528
47,249,268
Total accumulated funds
52,529,528
47,249,268
Assets
Liabilities
Accumulated funds
29
The Foundation for Young Australians statement of profit or loss and
other comprehensive income
For the year ended 31 December 2013
In Australian Dollars
2013
2012
External income from operations
4,932,397
1,999,713
Total Revenue
4,932,397
1,999,713
Personnel expenses
(4,806,185)
(3,678,551)
Depreciation expenses
(117,591)
(101,564)
Scholarships and grants paid
(505,471)
(934,419)
Program expenses
(excluding personnel expenses)
(1,984,139)
(1,143,497)
Research expenses
(excluding personnel expenses)
(239,124)
(200,073)
Other expenses
(588,712)
(344,893)
Total expenditure
(8,241,222)
(6,402,997)
Results from operations
(3,308,825)
(4,403,284)
Finance income
8,763,855
6,801,855
Finance costs
(174,770)
(235,472)
Net finance income / (expenses)
8,589,085
6,566,383
Surplus / (Deficit) before income tax
5,280,260
2,163,099
Income tax expense
-
-
Surplus / (Deficit) for the year
5,280,260
2,163,099
Other comprehensive income
-
-
Other comprehensive income for the year
-
-
Total comprehensive income for the year
5,280,260
2,163,099
Revenue
Expenditure
30
The Foundation for Young Australians statement of changes in equity
For the year ended 31 December 2013
Accumulated
funds
Total funds
Total comprehensive income for the period
45,086,169
45,086,169
Surplus for the period
2,163,099
2,163,099
Total other comprehensive income
-
-
Total comprehensive income for the period
2,163,099
2,163,099
Transactions with owners, recorded directly in equity
-
-
Total transactions with owners of the Company
-
-
Balance at 31 December 2012
47,249,268
47,249,268
Total comprehensive income for the period
47,249,268
47,249,268
Surplus for the period
5,280,260
5,280,260
Total other comprehensive income
-
-
Total comprehensive income for the period
52,529,528
52,529,528
Transactions with owners, recorded directly in equity
-
-
Total transactions with owners of the Company
-
-
Balance at 31 December 2013
52,529,528
52,529,528
In Australian Dollars
Balance at 1 January 2012
Balance at 1 January 2013
31
The Foundation for Young Australians statement of cash flows
For the year ended 31 December 2013
In Australian Dollars
2013
2012
Cash flows from operating activities
Cash receipts in the course of
operations
6,223,309
2,292,814
Cash payments for scholarships &
grants
(505,471)
(934,419)
Cash payments in the course of
(7,370,786)
operations including to employees
(5,451,936)
Net cash (used in) operating
activities
(4,093,541)
(1,652,948)
Cash flows from investing activities
Interest received
38,878
44,918
Unit trust distributions received
1,033,119
1,562,752
Imputation credits received
516,569
-
Net proceeds from drawdown of
investments
1,500,000
1,150,000
Acquisition of property, plant and
equipment
(74,680)
(39,889)
Net cash from investing activities 3,013,886
2,717,781
Net cash flows from financing
activities
-
-
Net (decrease)/increase in cash
and cash equivalents
1,360,938
(1,375,760)
Cash and cash equivalents at 1
January
183,894
1,559,654
Cash and cash equivalents at 31
December
1,544,832
183,894
32
Thank you to our supporters
All our work, everything we do wouldn’t be possible without you –
our partners and friends. Thank you.
Major supporters
Supporters
Alcoa Foundation
Accenture
Australian Government Department of
Education
ACT Government
Lotterywest
Mastercard Worldwide
NAB
Ajilon Australia
Alfasi Steel Construction
Allens Linklaters
Austraining International
Northern Territory Government, The
Department of Education
Budget Rent a Car
Australian Government, Department of
Prime Minister and Cabinet
Cooper Foundation
Clayton Utz
Samsung Electronics Australia
Good Super
Sidney Myer Fund & The Myer Foundation
IAG
The Perpetual Foundation
IBM Australia
The Shell Company of Australia Limited
Impact Investment Group
The Victorian Government
JBWere
Trust Company Ltd
K&L Gates
UBS AG
Lander & Rogers Lawyers
Lord Mayor’s Charitable Foundation
In kind support
Ms Jan Owen AM and Mr David James
Shelmendine
PIMCO
The Consulate of the Republic of Malawi
QBE Australia
The US Consulate
Mrs Barbara and Mr John Ralph AC
Think HQ
Small Giants
Sydney Opera House
The Ian Potter Foundation
The R E ROSS TRUST
ThoughtWorks Australia Pty Ltd
Untitled LTD
Dr Catriona Wallace
Westpac
33
Contact details
fya.org.au
03 9670 5436
[email protected]
21-27 Somerset Place
Melbourne Victoria 3000
@fya_org
GPO Box 239 Melbourne
Victoria 3001
facebook.com/likeFYA
@fya_org
34