Tabitha Lovett

A new report, funded by the Equity Trustees Company philanthropic Foundation, and produced by the Community Council of Australia (CCA) reveals disturbing data on how well Australia is performing against a number of values and goals prioritised by charity sector leaders.

The Australia We Want report is being launched at the National Press Club in Canberra today, and is confronting reading. It is the first report of its kind, benchmarking States and Territories against each other and national averages on key measures including incarceration and suicide rates, perceptions about safety and corruption, volunteering and giving levels, income inequality and educational attainment.
However, Equity Trustees, one of Australia’s leading independent trustee companies with a thriving Philanthropy division servicing more than 450 trusts and foundations, is committed to empowering change through philanthropy.

“This report presents stark and troubling data, but it is within our ability to improve on these results,” said Tabitha Lovett, General Manager, Philanthropy and Not-for-Profit Services.

“Equity Trustees distributes more than $70m of philanthropic funds each year to charities and not for profits, so we see firsthand the desire on the part of individual and corporate philanthropists to tackle the issues that result in inequality, disadvantage and fear. This Report helps us understand those issues better and target our response – and to help those who want to see change, direct their philanthropic funds in the right way for the most impact.

“Philanthropy made the funds available for this work to be done, and it will also be part of the solution.
“Our experience in working with hundreds of philanthropists during their lifetime and beyond, is that we must continually seek to understand what factors contribute to these troubling results, what works, what is broken and which interventions or initiatives will ultimately improve future findings.

“The great freedom of philanthropy is that it allows anyone to contribute to the community and look for ways to play a role and it shifts the conversation from problems to solutions and empowering change without having to wait for government, business and ‘the economy’ to act.

“This Report is only the first step. Equity Trustees looks forward to working with the CCA and the sector it represents, to continue to report against these indicators and seek to improve upon its current findings,” she concluded.

The post Philanthropy is the key to the Australia we want appeared first on AdviserVoice.

Tabitha Lovett

Equity Trustees has awarded its first grant under its new $10m Empowering change philanthropy granting program to the Centre for Excellence in Child and Family Welfare for a project to bring together information and stakeholders to plan better ways to support young people in state care, with a particular focus on supporting them to make the transition to adulthood.

The project supports recent calls from Anglicare Victoria to raise the age that young adults in out of home care remain supported, and responsibility of the state, from 18 to 21 years. Anglicare Victoria commissioned the report Raising our children: Guiding young Victorians in care to adulthood which showed there were clear social and economic benefits in ensuring young people remain supported in out of home care until age 21, and has launched The Home Stretch initiative to advocate for change.

“It is difficult to imagine what it might be like to be a child or young person without the anchor and safety of family. Those who grow to adulthood in out of home care are at an extraordinary disadvantage when they must exit the system and fend for themselves as adults,” said Mick O’Brien, Equity Trustees Managing Director.

Mr O’Brien said from his personal experience volunteering in this area in Victoria, which gave him the opportunity to see the problems first hand, it was heartening to see Anglicare addressing the issue.

“As an organisation able to channel the combined resources of around 450 charitable trusts, philanthropic families and individuals, we recognise that if we are to do better as a community in addressing these issues, we must collaborate. I congratulate the Centre for Excellence in Child and Family Welfare on this grant – our first under the ‘Place to call home’ section of this stream,” he said.

The grant of $60,000 is funded under the Children and Young People granting stream of Empowering change which has an allocation of $1.8m out of the total pool of $10m annually.*

The project will be overseen by a committee, which will include Victorian Government policy advisers, key researchers and leaders from community organisations which support young people at risk.

Equity Trustees General Manager of Philanthropy, Tabitha Lovett said: “This is a targetted strategy to work with a leading peak organisation with expertise, experience and connections in the field. We hope this financial contribution will help develop the blueprint for the state care system to better prepare and support young people in the government’s care as they transition to adulthood.”

“Most people reflecting on their own maturity and preparedness at age 18 to live independently without family networks and financial support would appreciate the vulnerability of this group and the need for a systemic response to ensure they don’t fall through the cracks,” Ms Lovett added.

The project the Centre has been funded to complete will include the development of a white paper on how philanthropy can better support the out of home care sector, to be developed in consultation with the sector and Government.
“In Victoria, more than 8000 children and young people are in out of home care – usually because of very difficult and complex issues. Each year about 800 of those kids turn 18 and their care ends,” said Deb Tsorbaris, CEO of the Centre.
“They then have to make the transition to adulthood with little support, including finding accommodation and employment, and for some, continuing with their education,” she added.

“Children in the care of the state have experienced significant trauma in their young lives and as a community we need to ensure they have ongoing support so they get a decent start to adulthood. When you consider that more than half of 18 – 24 year olds in Australia still have the safety net of living at home, it’s crucial that we spend more time thinking about, planning and implementing better supports for young people in care so they can successfully transition to independent living,” Ms Tsorbaris said.

Click here for more information about Equity Trustees Philanthropy granting program, and here for more about the Centre for Excellence in Child and Family Welfare.

* Equity Trustees has restructured its granting program to direct more than $10m of annual discretionary charitable giving into five key areas: Children and Young People, Medical Research and Health, Ageing and Aged Care, Animals and Environment, and Partnerships Program. Discretionary distributions are possible where Equity Trustees has been appointed as the sole trustee of a charitable trust and given discretion to choose the charities and causes to receive funding. This is distinct from the other charitable trusts Equity Trustees manages which were established with specific instructions regarding how the income is to be granted or are managed in collaboration with co-trustees. An additional $60m of charitable distributions are made each year from those trusts that have specific directions and co-trustees.

The post Equity Trustees backs kids looking for a place to call home appeared first on AdviserVoice.

Tabitha Lovett

Equity Trustees has restructured its granting program to direct more than $10m of annual discretionary charitable giving into five key areas: Children and Young People, Medical Research and Health, Ageing and Aged Care, Animals and Environment, and Partnerships Program.

“We, like our partners in the not for profit sector and our philanthropic clients, are constantly learning and changing to find better ways to address community challenges and need,” said Mick O’Brien, Managing Director of Equity Trustees.

Discretionary distributions are possible where Equity Trustees has been appointed as the sole trustee of a charitable trust and given discretion to choose the charities and causes to receive funding. This is distinct from the other charitable trusts Equity Trustees manages which were established with specific instructions regarding how the income is to be granted or are managed in collaboration with co-trustees. An additional $60m of charitable distributions are made each year from those trusts that have specific directions and co-trustees.

“If we want to see change, we have to change too – to keep up with issues we face as a community, the demand for philanthropic investment, and also the energy of new generations of philanthropists who want to be confident they are achieving the most impact possible,” Mr O’Brien said.

General Manager of Philanthropy, Tabitha Lovett said the specialist philanthropy team at Equity Trustees consulted widely with the not-for-profit and charitable sector, with co-trustees and donors, analysed the direction of public policy, and reviewed the data from the charitable distributions made by Equity Trustees each year across discretionary and non-discretionary trusts before settling on the five key areas

“This restructuring of our discretionary granting program follows a purposeful search for a better way to direct charitable distributions that align with and realise the wishes of the trusts’ founders, as well as having the best chance of empowering change by bringing trusts with similar objectives into focused program areas,” she said.
The five areas are:

1. Children and Young People ($1.8m) – funds aimed at assisting children and young people to take their place in life
2. Medical Research and Health ($3.6m) – supporting innovation in medical and health research, services and clinical practice
3. Ageing and Aged Care ($2.2m) – supporting people to age well and die with dignity
4. Animals and Environment ($1m) – supporting conservation of Australian native fauna, addressing climate change and animal welfare
5. Partnerships Program ($1.7m) – supporting social inclusion and social innovation, including building capacity or organisations and communities to address emerging issues.

The appointment of a dedicated evaluation specialist within the philanthropy team has seen the Company commit to providing impact evaluation of individual program areas, as well as evaluating the more than $70 million distributed across the sector from more than 450 charitable trusts managed by Equity Trustees.

“Equity Trustees recognises the significant role of philanthropy to lead positive change. It is our responsibility as trustee to ensure that the legacy of our generous philanthropists, who entrusted their charitable trusts to our care, are honoured by ensuring that we apply our expertise to generate as much positive impact as possible,” said Ms Lovett.

“That includes working collaboratively with the sector and the not-for-profits who work at the front line of human vulnerability, and with public policy, and research institutions. Of course, central to all of this is working with the growing numbers of families and individuals who through philanthropy, want to ‘be’ the change they want to see in the world, and who direct their giving towards that aim during their lifetime and beyond.”

More detail on each of the key areas will be released as grants in each of the categories become available, and applications open throughout the coming 12 months.

Click here for more information about Equity Trustees Philanthropy granting program.

The post $10m of philanthropy restructured to empower change appeared first on AdviserVoice.

Tabitha Lovett

Independent trustee companies are in a unique position to provide both a systemic protection against financial elder abuse, as well as having the ability to channel philanthropic funds into programs to address the broader issue, according to Mick O’Brien, Managing Director of leading Australian trustee company, Equity Trustees.

“Equity Trustees was established under an Act of Parliament more than 120 years ago with the purpose of providing impartial and independent support to protect the wealth of individuals no matter where they are, and what their capacity might be,” Mr O’Brien said.

“Our role has literally been to act as they would act, and to carry out their express wishes. We do this every day for people who have lost capacity through injury or the effects of ageing, and we do it for people who are no longer with us. Our first responsibility is to the client and in adherence to their instructions,” he explained.
In practice, this occurs through executor, power of attorney or trustee appointments, usually specified in estate planning or the establishment of trusts under specific terms.

“Particularly in a time when family structures are increasingly complex, many see the benefits of an independent financial power of attorney or the appointment of an independent executor in their will. Our clients largely want to avoid putting that burden on a friend or family member – and many simply want to feel secure that their affairs will be managed exactly as they intended, especially if they lose capacity or feel at risk of being pressured by family members,” Mr O’Brien explained.

“It’s clear to see how this approach can play a role in at least protecting the wealth of those that might be subject elder abuse for financial gain,” he said.

The Company is also trustee for more than 450 charitable trusts which distributes more than $70 million annually to charities and charitable causes.

Tabitha Lovett, Equity Trustees General Manager of Philanthropy said: “As a funder we look for programs which achieve the charitable objectives of the trusts which are often the protection of vulnerable members of the community and tackling issues that impact on the disadvantaged, disproportionately.

“We are conscious that our clients are in the fortunate position to be able to protect and grow their wealth through our financial planning and investment services and through our estate planning services to structure their affairs to protect against financial abuse.

“One way we can extend that protection to members of the community who may not be our direct clients and to make society more equitable is to fund programs that provide free advice to elders at risk of financial abuse in settings which they readily access such as health and community services,” Ms Lovett explained.

Equity Trustees recently provided a three year philanthropic grant of $265,000 to Justice Connect to extend the work of the Melbourne Seniors Law team and their focus on addressing elder abuse, into NSW. The initiative has also been funded by the Department of Family and Community Services.

“When people come to us to establish philanthropic trusts, they know we will ensure the income from their trusts will be distributed as they direct, to assist those in need or support the causes they are passionate about.
“Often those causes are to provide the same opportunities and protections that our clients have experienced in their lives, to those less secure or able. It is a legacy that can continue on through generations, making our world a fairer, safer place free from abuse, financial and otherwise,” Ms Lovett concluded.

The post Equity Trustees commited to preventing elder abuse appeared first on AdviserVoice.

Tabitha Lovett

The end of the financial year is a common time for people to think about charitable giving, and the associated tax advantages, but those who take an ad-hoc approach may not achieve the social impact they were hoping for, says Tabitha Lovett, General Manager – Philanthropy at Equity Trustees.

“Choosing a list of charities and making one-off donations in the lead up to 30 June may seem like an effective way to support worthy causes, and receive tax deductions, but a more structured and considered approach to philanthropy will have much greater impact without any decrease in the tax advantage.

“A measured and planned approach will help ensure that donations go towards preferred causes and, if an ongoing strategy is put in place, can create a significant level of financial support for chosen charities over a period of time,” Ms Lovett said.

She said that a long-term approach brings long-term benefits.

“There is a perception that establishing a perpetual charitable trust is expensive or complicated, and only for the very wealthy, but this isn’t the case. A sub fund with the Equity Trustees Charitable Foundation, for instance, can be established with a minimum seeding amount of $20,000 and can be set up within 48 hours with no establishment fees. What’s more, the tax deduction for the initial seed donation and any subsequent contributions can be spread over five years if that is your preference.

“Setting up such a trust means that people can take a much more targeted approach with their philanthropy, involve family and friends in their giving and ultimately have a much greater impact than the alternative of one-off or ad-hoc donations.

“One of the challenges facing charities is how to manage the uneven and inconsistent level of donations they receive. It is much easier for charities to plan ahead and achieve their missions and objectives if they know they will receive a project grant committed to the life of the project or a regular income stream from a charitable trust.”

“Further, establishing a charitable trust with a trustee company provides peace of mind that a philanthropist will be operating within a legally compliant framework, with a professional trustee ensuring the stated intention of supporting charity is not only financially effective but also compliant with the regulatory environment. This means philanthropists can focus their attention on the charities they want to support and causes they wish to further – rather than reporting to government bodies.

“Amongst the charitable trusts we manage on behalf of philanthropists we are seeing a move towards funding strategic projects and activities which assist charities to become sustainable and reduce their reliance on government funding. We are also seeing a rise in social enterprise initiatives with philanthropists providing critical early stage support to hospitality, consulting, manufacturing or skilled labour programs that provide employment opportunities for disadvantaged communities as well as a sustainable income revenue to charities.

“Philanthropy also has the opportunity to respond to issues and needs in the community as they arise or receive greater awareness, whether in relation to funding cures and vaccinations for better health outcomes, improving education curriculums or responding to long term societal issues such as unemployment and homelessness.

“With the recent emphasis the government and media have placed on domestic violence for instance, there is a renewed focus by the philanthropic sector on supporting new initiatives in this area. The launch of The Luke Batty Foundation and the Victorian government’s Royal Commission into Family Violence will provide further opportunities for philanthropists to work collaboratively with the sector to provide a response to this critical community issue.

Ms Lovett said that there are three main types of charitable trusts available to people: private ancillary funds; sub-funds with public ancillary funds; or testamentary charitable trusts.

“Generally speaking, a sub-fund with a public ancillary fund (PuAF) has significantly lower start-up costs than a private ancillary fund (PAF).

“These sub-funds are individual funds set up under the umbrella of a public ancillary fund, and are recommended for those who want to start small but nevertheless wish to have some direction over which charities, programs or causes they support. Sub-funds are a particularly good option for people who don’t want to be involved with investment decisions.

“Donations to sub-funds attract the same tax deductions and considerations as making a donation directly to a charity.

“PAFs on the other hand, are often used for family foundations and are suitable for those who can donate larger sums of at least $500,000 in investible assets.

“Testamentary charitable trusts are the traditional way of leaving a lasting legacy to take effect via a Will after the philanthropist has passed, and are a common vehicle for distributing funds to charitable organisations and causes. The difference between a testamentary trust and a PAF and PuAF, is that beneficiaries of a testamentary trust do not have to be a Deductible Gift Recipient. Although this makes the options for giving wider unlike PAFs and PuAFs the donor does not receive a tax deduction for the funds held in a testamentary trust.

“Income and capital growth produced within all trusts endorsed as charitable is tax free making them an effective way to support to the charity sector in a long-term manner.”

“Setting up such structures not only helps support worthwhile causes but does so in a way that gives them the kind of ongoing income that they most need,” Ms Lovett said.

The post Make the most of charitable giving this financial year appeared first on AdviserVoice.

Tabitha Lovett

Although often seen as the domain of wealthy patriarchs, women have historically taken a leading role in the establishment of philanthropic foundations, and women establish close to half of all the philanthropic trusts managed by Equity Trustees.

As International Women’s Day approaches (8 March), Tabitha Lovett, General Manager of Philanthropy, outlines the actions of women – both as donors and recipients – of funding.

“Women tend to outlive men and when they build and inherit wealth they often decide to use it to give back to the community. The clients who establish foundations with Equity Trustees often tell us they do not want to just sit on a fortune but rather see it as a responsibility of their wealth to help others less fortunate and contribute to the greater good” Ms Lovett said.

She added that, when deciding on where to direct philanthropic trust distributions in a way that will specifically support women, the focus is most often towards health and creating opportunity through education.

Over the 2015 calendar year, the 450 charitable trusts* managed by Equity Trustees (with more than $1.8 billion in funds under management) distributed close to $70 million to charitable causes following the directions and wishes of the trusts’ founders.

Health and medical research is the most common sector to receive philanthropic funds – with half of the money distributed going to this category. Next most popular was Children & Youth (13 per cent), followed by material aid and welfare in Australia (11 per cent) and Animals and Environment (8 per cent).

“While many of the programs funded benefit both men and women, when looking at the programs that have the specific intention of benefiting women, grants are often directed towards projects which seek to empower women through education and employment,” Ms Lovett said.

“The ways in which these trusts have distributed over decades often reflects cultural norms and priorities of the time”, Ms Lovett said.

For example, the Felton Bequest established in 1904, divides its income annually between Victorian charitable organisations that benefit women and children and the National Gallery of Victoria (NGV) to purchase works of art.

At the time of its establishment, it provided the NGV with access to funds greater than those of London’s National and Tate Galleries combined and is the most valuable bequest ever made to the arts in Australia with the current value of its gifts now exceeding $2 billion.

Lovett says “At the turn of the twentieth century the charitable organisations assisting women and children often had as their mission the welfare of unwed mothers, spinsters and widows.”

“In today’s environment with the serious consequences of domestic violence and child abuse attracting greater public attention – the Felton Bequest Committee and other trusts – are seeing an increase in requests to fund programs that seek to prevent violence and abuse, help victims escape and educate men to speak out against it.”

“The advancement of women through education has always been a popular area of focus for the charitable foundations we manage, and women philanthropists are often interested in funding education to further the prospects for other women,” Ms Lovett said.

“The Mary Jane Lewis Scholarship Foundation is a good example of this development. It provides scholarships of $10,000 a year for three years for young women to undertake an undergraduate degree at the University of Melbourne.”

The Dafydd Lewis Trust managed by Equity Trustees was established 70 years ago to support young men to attend university before female attendance was the norm.

In 2004, the trustees helped establish the Mary Jane Lewis Scholarship Foundation to enable young women to have this same opportunity and named it after the wife of Dafydd Lewis. Twenty-two young women have received scholarships since its establishment and the scholarships are more than just the financial assistance.

“During the program a scholar will also receive financial literacy training, a life and career skills workshop, a visit of interest to a significant and usually inaccessible iconic Melbourne location and she is connected with a mentor in her final year of study” Ms Lovett said.

When discretion regarding the decision on education funding is left to Equity Trustees, Ms Lovett says most often consideration is given to helping as many women as possible with the funds available.

“For instance, we increasingly have to make decisions around the best way to fund educational opportunities for women. It may involve funding a program designed to encourage young women to maintain attendance at their local high school and complete their secondary education rather than providing a scholarship for just one talented student to attend a private school.”

With the health system under continued pressure and ongoing cuts to funding, it doesn’t surprise Ms Lovett that bequests to Women’s Hospitals are another popular option for those wanting to advance the cause of women.

“There is increasing pressure on existing health services, and often government funding does not keep up with demand. A large number of the charitable trusts we manage were established to benefit hospitals and medical research institutions.”

Ms Lovett stresses it is not necessary to be a millionaire to be a philanthropist: “With a seed amount of $20,000, families and individuals can establish their own charitable fund through a public ancillary foundation, such as the Equity Trustees Charitable Foundation, – and join many others with the same desire to give back to the community and advance charitable causes. Collectively, they can grow philanthropy in Australia – incrementally, but powerfully,” she concludes.

* Includes private ancillary funds, Community Foundations (including the Equity Trustees Charitable Foundation) – and Testamentary trusts (those established in a Will).

The post Advancing women’s health and education a focus for female philanthropists appeared first on AdviserVoice.

Equity Trustees distributed more than $70 million in the 2015 financial year on behalf of the charitable trusts and foundations for which it is trustee, following the wishes and directions of their philanthropic founders.

Reporting to Equity Trustee’s general manager, philanthropy, Tabitha Lovett, Ms Pritchard will be responsible for developing and managing a strategy and framework to better understand and demonstrate the outcomes of grants awarded.

Ms Lovett said the grants evaluation function was of increasing importance in the business, with the increasing trend for larger, multi-year grants continuing to highlight the importance of evaluating the benefits of the grant making process.

“Emma has close to 20 years research and evaluation experience, including ten years in international development and four years in the community legal sector, which makes her a perfect fit for this role,” Ms Lovett said.

Prior to joining Equity Trustees, Ms Pritchard worked in evaluation in international development including nine years as the senior research and evaluation adviser – child protection, for World Vision Australia (WVA). She has also held various evaluation consultant roles in the community legal sector, including with Justice Connect (formerly PILCH), the Western Community Legal Centre in Melbourne and the Women’s Legal Service of Victoria. In 2015 she developed and conducted Justice Connect’s first impact reporting process and authored the inaugural report.

Her experience also includes research and evaluation in the health sector both in Australia and overseas. Ms Pritchard was a research fellow at Turning Point Alcohol and Drug Centre, Melbourne, for two years; a research consultant on an HIV/Aids prevention project for Population Services International in China and Laos; and worked for the National Centre for Health Promotion in Phnom Penh, Cambodia for a year and over six years held a variety of research roles with the Cancer Council Victoria.

“Emma’s experience across a wide range of community projects, community law and charitable organisations make her a valuable addition to the Equity Trustees philanthropy team.

“In this role Emma will be liaising with grant recipients, our expert panels and co-trustees to develop systems to effectively evaluate and demonstrate the outcomes and social impacts of the charitable trusts’ granting and distributions.

“She has demonstrated a proven capacity to design and manage complex evaluations which is an increasingly important part of meeting our donor reporting requirements.

“Her experience across a range of industries and sectors will allow her to actively participate in the development of strategies to grow the philanthropy business, and to collaborate with the philanthropy team to provide efficient and accurate client service,” Ms Lovett said.

Ms Pritchard holds a Bachelor of Laws from Monash University, a Graduate Diploma in Applied Psychology and a Bachelor of Arts from Monash University.

She is a member of the Australasian Evaluation Society (AES) as well as Committee member of the AES Victorian Branch and Coordinator of the AES Victorian seminar program.

The post Equity Trustees appoints research and evaluation manager appeared first on AdviserVoice.

Tabitha Lovett

Australia’s most prestigious mid-career medical research Fellowships has embedded gender equity in its awards – starting this year the national Sylvia and Charles Viertel Charitable Foundation Senior Medical Research Fellowships are being awarded to one male and one female outstanding mid-career scientist, making their mark with medical research that shows great promise for the future.

The winners of the 2016 Sylvia and Charles Viertel Charitable Foundation Senior Medical Research Fellowships are Dr Marie-Liesse Asselin-Labat – Group Leader, Stem Cells and Cancer division, Walter and Eliza Hall Institute of Medical Research; and Dr Thomas Gebhardt – Senior Research Fellow, Department of Microbiology & Immunology at the Peter Doherty Institute for Infection & Immunity (The University of Melbourne)

The Chairman of the Viertel Foundation’s Medical Advisory Board, Professor Peter Leedman said the Foundation’s Medical Advisory Board had made the recommendation to the Trustees for Fellowships to be awarded to one man and one woman each year in recognition that gender equity in science was a significant issue and that in recent years the Awards had seen a growing prevalence of male recipients.

Four years ago a little over half of all recipients of this Fellowship were women scientists, but over the past four years this had slipped to a little over a third.

“This decision, one focused on bringing gender equity to the Fellowship, was based on the observation that in the past several years no woman had been awarded a Fellowship,” said Prof Leedman.

“This seemed out of step with the high quality of science being conducted around Australia by top young female scientists. As a consequence, the Board changed the assessment process for 2015, and it was extremely impressed with the outstanding quality in both female and male applicant categories. With the support of the Viertel Foundation Trustees, the Medical Advisory Board will continue this approach going forward.”

Each Fellow will receive $1.225 million ($245,000 per year for five years) to undertake leading-edge research in their area of expertise, making it the most prestigious mid-career medical research award in Australia. The Foundation has now awarded 40 Senior Medical Research Fellowships since 1995.

Tabitha Lovett, Equity Trustees General Manager of Philanthropy, said the Trustees welcomed the progressive recommendation, which ensured the Foundation retained its focus on promoting the pursuit of excellence in scientific research – by supporting young researchers at a critical time in their careers.

“The Sylvia and Charles Viertel Charitable Foundation is one of Australia’s largest foundations and distributes more than $7.5 million per year to charitable organisations and for medical research purposes,” she said.

“Equity Trustees is proud to manage this Foundation in partnership with our fellow trustees – Mr George Curphey OAM, Mr Rex Freudenberg, Justice Debra Mullins – and its commitment to assisting the science industry to do better and to take action to make gender equality a part of what it stands for in science,” Ms Lovett said.

The post Prestigious medical research fellowship takes stand on gender equity in 2015 award announcement appeared first on AdviserVoice.

Tabitha Lovett

As International Women’s Day approaches, Equity Trustees is highlighting the role that women play in philanthropy as founders of philanthropic trusts as well as beneficiaries of their support.

Tabitha Lovett, General Manager of Philanthropy at Equity Trustees, says women have historically taken a significant role in the establishment of philanthropic foundations.

“Just under half of the philanthropic trusts managed by Equity Trustees were established by women, although often named in memory of their parents or husbands rather than their own name,” she says.

“This year, the 450 charitable trusts managed by Equity Trustees with more than $1.8 billion in funds under management, will distribute more than $80 million to charities following the directions and wishes of the trusts’ founders.”

That includes private ancillary funds (PAFs), public ancillary funds – also known as Community Foundations (including the Equity Trustees Charitable Foundation) – and Testamentary or ‘Will’ trusts.

“One of the larger trusts we manage, the Phyllis Connor Memorial Trust, which was established by long-standing Equity Trustees’ client, Miss Phyllis Connor, provides significant funding to charities supporting women and girls in Victoria,” Ms Lovett says.

“Established in 2010 through her Will, Miss Connor’s trust currently distributes over $1 million each year including funding scholarships at an independent girls’ school in Victoria.

“This year, the Connor Trust also awarded a $50,000 grant to the Australian Women Donors Network which advocates for greater investment in women and girls while promoting the use of gender sensitive principles in grant making.”

Education is a popular focus for many charitable foundations, Ms Lovett says.

“It is often the case that the causes and philanthropic objectives articulated by benefactors for their charitable trusts reflect community norms at the time which, as the years pass, can become outdated. An interesting example is the Dafydd Lewis Trust which was established by Mr Lewis through his Will in the 1940s to provide university scholarships for young men.

The Scholarship Trustees recognising the equal importance of giving talented female students the opportunity to attend university, established the Mary Jane Lewis Scholarship Foundation 10 years ago (named after Dafydd’s wife) with support from previous Dafydd Lewis scholars and a group of passionate philanthropists.

“The Mary Jane Lewis Scholarship Foundation provides scholarships of $10,000 a year for three years for young women to undertake an undergraduate degree. The recipients are selected by an inspiring group of Scholarship Trustees who share a passion for the education and advancement of exceptional young Victorian women.”

“Many bright young women have benefited from these scholarships which provide mentoring as well as financial support.  Due to family circumstances and financial hardship, achieving their goal to attend university would have been difficult, however with the support of the Mary Jane Lewis Foundation they have gone on to forge successful professional careers.”

Another significant trust managed by Equity Trustees was established by Lady Winifred MacKenzie in 1972, to honour her husband Sir Colin Mackenzie, a leading orthopedic surgeon and comparative anatomist, whose pioneering work in rehabilitation for polio survivors meant that nearly 70% of polio victims during the Melbourne epidemic of 1937-1939 fully recovered.

In 1920, Sir Colin also established what is now known as the Healesville Sanctuary, which has become one of Australia’s most important native animal conservation zoos.

“Income generated by Lady MacKenzie’s Trust is now made available for science fellowships and support for the Sanctuary to continue Sir Colin’s work and further scientific knowledge in the area of comparative anatomy and preservation of threatened species as part of the Sanctuary’s programs.”

Ms Lovett says it is easier to establish a perpetual charitable trust than people think and it does not need to be expensive or complicated.

“You don’t have to be wealthy to set up a charitable trust. It is possible through a public ancillary foundation such as the Equity Trustees Charitable Foundation to establish a perpetual charitable fund with $20,000, which you can contribute to over time.

“Misconceptions about establishment, operation and flexibility of such trusts often deter people. There is also a perception that charitable trusts are just for the very wealthy which isn’t the case.

“Ultimately, establishing a perpetual charitable fund during a philanthropist’s  life can better achieve their philanthropic objectives in a more engaged and lasting manner and will ensure a greater impact on their chosen charity or cause compared with one-off donations.”

The post Celebrating women philanthropists on International Women’s Day appeared first on AdviserVoice.

George Boubouras

Equity Trustees distributed more than $14.5 million last year to charities on behalf of the 206 charitable trusts it manages, following the directions and wishes of the trusts’ founders.

The charitable trusts managed by Equity Trustees total more than $490 million in value and are comprised of private ancillary funds, public ancillary funds (including the EQT Foundation) and testamentary or ‘will’ trusts, says Tabitha Lovett, head of philanthropy at Equity Trustees.

“The charitable trusts vary significantly in size and scope, and support a range of issues such as medical and scientific research, environmental protection, children’s charities, educational causes, animal welfare and disaster relief,” Ms Lovett says.

Of particular note in recent years is the increasing demand for funding from charities.

“The number of requests for grants from charities is on the rise, and the ratio of the funds requested against the income we have to distribute is around 8:1. This situation is increasing, not decreasing.

“While government and private sector funding for charities can ebb and flow, the proceeds from perpetual charitable trusts, such as those managed by Equity Trustees, continue to be distributed, regardless of the financial climate or government funding priorities.

“Equity Trustees’ focus is to ensure the trusts are properly administered and the income is distributed following directions and wishes of the benefactors, with prominence given to the trusts’ founders,” Ms Lovett says.

“Where the founders have left discretion with Equity Trustees to select the recipients to receive income each year, we strive to identify the strongest projects which will achieve genuine benefits for those in the community who are vulnerable and disadvantaged.”

Ms Lovett says the funds available for distribution each year depend upon the investment returns of the existing perpetual trusts and the number of new trusts that are set up.

“In the past 10 years many new philanthropic trusts have been established, as more and more people see the benefit of giving during their lifetime.

“This reflects people’s increasing interest in actively supporting the community sector and because of an increasing awareness of the various options available for establishing a perpetual foundation or legacy,” says Ms Lovett.

George Boubouras, Chief Investment Officer at Equity Trustees, says trusts’ assets are invested prudently with the objective of capital and income growth.

“These trusts are perpetual trusts, which means we can take a long term outlook with the investment decisions made. The aim is to return a consistent dividend yield that is greater than the broader equity market, to ensure funds are available for distribution each year.

“The aim is to deliver the best risk adjusted returns for investors with a focus on the dividend yield. The franking credit will continue to be an important component.

“The growth of dividend per share (DPS) was very strong over the past year and we continue to anticipate this trend in 2014.

“EQT is aiming for a sustainable dividend growth strategy which will provide greater income for distribution to charity,” Mr Boubouras says.

“Increasingly, we are finding clients want their financial planning considerations to include a structured and long-term approach to philanthropic giving, which will also provide tax advantages,” says Ms Lovett.

“It is not necessary to be wealthy to donate or to set up a charitable trust. Donations to the Equity Trustees Foundation can be made with as little as $1000.”

She says it is also possible to establish a perpetual charitable vehicle with a donation of around $20,000

“Establishing a perpetual charitable trust doesn’t need to be expensive or complicated and is a way to more meaningfully support a chosen charity, than ad hoc donations,” she says.

The post Equity Trustees distributes over $14.5 million as demand from charities soars appeared first on AdviserVoice.