Geelong responds in kindness

Mbetts And Read The Play 2 Oct 2021 Smaller (3)

Geelong donors have responded with open hearts and open wallets to the difficulties that have occurred in our community over the last two years. The Geelong Community Foundation today announced it has received over $1.1m in donations last year, almost double the previous two years combined.

The Vice Chairperson, Michael Betts thanked all donors for their generosity. “In a time of great need, our donors, existing and new, responded in kind. Even though our income was initially affected by the pandemic and resultant economic downturn, thanks to our record level of donations and investment growth, we were still able to make community grants of over a million dollars.”

“We make grants based on our Foundation’s corpus and we continue to build our funds under management. This year we broke the $30 million mark. This enables us to keep giving forever. Even in times of great stress, it is a sustainable answer to philanthropy in the Geelong Region” Michael added.

“Our success has been built on the generosity of our donors, through their donations and gifts in wills. I personally wish to thank them on behalf of the entire Geelong region community.”

“In addition, we have been able to keep our administration expenses to just over 1% of funds under management. Returns on our investments have also averaged over 11.8% per year over the last five years. The Foundation is a Geelong community success story.”

The CEO, Gail Rodgers also thanked all those involved and invites Companies, families and individuals to become part of the Foundation. “We are building something special here, making a difference in our community. I invite you to join us and open a named fund with the Geelong Community Foundation and help build a lasting legacy. It’s smarter, collective giving at its most effective best.”