Equity Trustees directs resources of 24 philanthropic trusts to a brand new Partnership Program.
Equity Trustees has directed the combined resources of 24 philanthropic trusts to a brand new Partnership Program which will inject more than $3m over three years to the Mater Foundation, Monash Partners and the National Foundation for Medical Research and Innovation (NFMRI).
“We have heard from the not for profit sector the challenges they face with ‘short termism’ in annual or small granting rounds, and how it compromises their ability to focus on doing the actual important work in medical research and health as resources are diverted to chasing funding,” said Jodi Kennedy, General Manager of Charitable Trusts and Philanthropy at Equity Trustees.
“We can play a part in resolving that challenge by taking a different approach to granting while still staying true to the wishes of our philanthropic clients past and present – in fact, we think it deeply honours their intention to empower change in this area of endeavour.
“We were looking for partners who could help us link researchers with healthcare professionals in meaningful two-way collaborations to generate and rapidly translate patient-focused research; leverage our funds; engage with us and our clients to deepen our knowledge and understanding; and were focused on empowering change across the sector.
The three partners were selected after an RFP process, off the back of a two year development process to create the Partner Program within the Medical Research and Health granting program. The 24 trusts are among those which Equity Trustees has sole discretionary responsibility as trustee.
Over the three years the partners will be funded* as follows:
- NFMRI: $1.29million to advance medical innovations in the area of Alzheimer’s disease and cancer.
- Mater Foundation: $946,000 for research into children’s diseases, cancer and diabetes.
- Monash Partners: $904,000 for research to improve health for children, those suffering with cancer, heart disease, and depression.
Ms Kennedy explained: “We wanted groups that could bring together universities, medical research institutes, healthcare providers and industry. These three partners are recognised as leaders in collaboration that excel in health and medical research, the translation of evidence into excellent patient care, and demonstrate a strong research and translation focus in the education of health professionals, at an international level.”
Equity Trustees distributes around $70m of philanthropic funding annually across a range of charitable and not for profit causes and organisations. For many trusts Equity Trustees has complete discretion on the granting program. This means the trustee is the sole decision maker around the grants within the scope of the founders’ wishes. In the case of this Partner Program, the funds are pooled from trusts which were set up with a commitment to medical research and health.
“Equity Trustees warmly congratulates the inaugural recipients of our Medical Research and Health Partner Program. We are excited about the possibilities of what this stable three years of funding might mean in terms of advancements in research and treatment programs,” Ms Kennedy concluded.
The 24 trusts making this Partner Program possible are:
- A Appel Estate
- A J Anderson Charitable Trust – The Dorothy Hill Memorial Trust Fund
- Beatrice Harris Charitable Trust
- Bill Long Charitable Trust
- ECF – Elizabeth Murray Charitable Gift
- George Weaber Foundation Trust
- H Bunting Estate
- L G McCallum Estate
- Lynne Quayle Charitable Trust
- Nicholas and Phyllis Pinter Trust
- Preston and Loui Geduld Trust Fund
- QCF – ANZ Bank Fund
- QCF – Thomas George Swallow Trust
- Qld Community Foundation
- The A E Hingeley Trust
- The H J Hinchey Charitable Trust
- The J & T Cox Memorial Foundation
- The Judith Jane Mason & Harold Stannett Williams Memorial Foundation (The Mason Foundation)
- The KC & BM Thomson Memorial Fund
- The Myra Stoicesco Charitable Trust
- The R D Hingeley Trust
- VCF – Dean William Winter Trust
- VCF – George Perry Fund
- William & Evelyn Beveridge Settlement
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