Page 1

THE ANNUAL REPORT 2011


01

This publication contains intellectual property belonging to the author of its images. Please do not reproduce any images without obtaining permission from the author. All rights are reserved. Copyright 40K Foundation 2012.

Published in 2012 by the 40K Foundation Suite 202, 90 Pitt Street Sydney NSW, 2000, Australia

CONTENTS

Pavitra

1.0

Bharath Babu

Report of Chairman &

02

Director

3.0

Our Board

Krupa

07

6.0

Financial Statements

Renuka

13

3.1 Governance

07

7.0 Acknowledgements

15

1.1

Message from Our CEO

02

3.2

The Board

07

8.0

16

1.2

Message from our

03

4.0

Where We Work

09

Board Chair

5.0

Our Activities

10

2.0

About the 40K Foundation 04

5.1

Our Focus on Education

10

2.1

Our Mission

04

5.2

Our Focus on Communities

10

2.2

Our History

04

5.3

Our Supporters

11

2.3

The Storm

05

5.4

Fundraising & Events

11

2.4

Our Core Values

06

Overveiw

Thank You & Call to Action

Nirmala

Monapa


02

1.0

REPORT of Chairman & Director

1.1 message from our CEO

place as unpredictable as India. We

the resource on the ground to deal

We were delighted to host the NSW

and Nicole Baldwin were fantastic!

really felt we could leverage both of

with it effectively, and we wrongly

Premier, Barry O’Farrell and his trade

I’d like to thank our board for keeping

these things.

expected

who

delegation as visitors to the Banyan

the helm steady through such a

already had enough on their plate,

in November. Seeing him read ‘The

tough year. I’d also like to thank

to take part in our experiment.

Pickled Possum” to the kids was

our key staff- Pip Steele-Wareham,

certainly a sight! It was fantastic to

Guy Williams, and Lexi Miller, and

40K has never claimed to know all

hear the Premier’s announcement

volunteers

the solutions: we’ve just never turned

that there would be a NSW vs

Burger, Sally Giblin, Amber Lewis and the whole research team.

We knew education held such intrinsic power in altering the course of a child’s life away from the quarry.

CLARY CASTRSSION

organisations

occur to us what would happen

Elyse

Trotter,

Jodie

after the school opened. It was a

But we also knew that building

our back on the real problems. In 2011,

Maharashtra Cricket Match which will

I’m not one to hold back: 2011 was

blunder in Strategy 101 but I do not

schools was not going to be the most

we were embedded in a complete

raise funds for us in 2012.

the year that had to happen, but

blame anyone but myself for this-

effective way to achieve it. There

reinvention but that transition had its toll.

hopefully a year that will not have to

the organization was founded on

were 110 million kids in need of a better

happen again.

the principles of building the school.

education in India, and rolling out a

A poorly communicated change of

with

saw

“You always have to keep pushing

Period. What 40K had become was

$500,000-per-school

direction caused anguish and offence

the firm raise a hefty $40,000 for us

to innovate. Dylan could have sung

beyond our wildest imagination.

going to cost $28 billion dollars.

to some of our key supporters and

through

Bollywood

protest songs forever and probably

some of our key volunteers. It also

event

engagement

made a lot of money. But he didn’t. He

Early in the year, we made the

solution

was

decision that we would not continue

To close, Steve Jobs once said: We worked through a partnership Deloitte a

Private

which

wonderful

and

staff

When the dust settled on the

So 2011 was about trying to learn

meant that we had a particularly poor

program. For this I’d particularly like to

had to move on … The Beatles were

After

opening, we had a critical decision

about where we could find our

fundraising year- our worst in 3 years.

thank Tharani Jegatheeswaran and

the same way. They kept evolving,

across

to make. Firstly, we could say that

biggest

completely

The fact that the Big Night Out was not

Mike Stibbard for making it happen.

moving,

January and February the two of us

we achieved what we intended

revised our partnership selection

held did not help this, but the event

could not reach on an agreement

to- building a school- and close the

criteria. We went and found three

needed a break in Sydney. One of our

We launched a new business called

Otherwise, as Dylan says, if you’re not

how the partnership would work. We

organization down. Secondly, we

new partners; Akshara Foundation,

donors told me that we were at risk of

40K Globe, which will see students

busy being born, you’re busy dying.”

agreed that we would help on an

could roll out more of the same. Or

Dream A Dream, and Hippocampus-

becoming ‘just another faceless charity,’

spending

ad hoc basis, through small projects

thirdly, we could figure out how to

organisations

and another that we had lost our way.

at our projects in Bangalore. We

I believe 2011 was about trying to

make our impact much bigger.

themselves over time to be the top

thank in particular the University of

‘move on.’ I fully believe that it was

the partnership with our first partner, The

Lovedale

extensive

Foundation.

negotiations

such as installing the computers and

We

that

have

proven

refining

their

art.

That’s

what I’ve tried to do- keep moving.

a

month

volunteering

educational NGOs in Bangalore. We

Looking back, I am so proud that

Technology, Sydney, the University

the year that was the taking the

2011 was the year that we had to

created partnerships that would

we stuck it out in the year that was

of

one step back before 2 were taken

figure that out.

see 40K fund the expansion of

‘the storm.’

Sydney

internet in the school, and installing the bore well.

impact.

was that we didn’t think too much

We didn’t want to close it all down-

about what we would do next. We

we’d built such a strong base of

threw every bit of energy into raising

supporters

we

the funds and getting the school opened in time that it didn’t even

literacy, numeracy and life skills.

Institute

and for

NSW

TAFE:

sponsoring

Despite this uncertainty, there were still a number of key highlights that

The Big Night Out moved interstate

We had a noble aim of trying to get

were enjoyed by all: The Big Night

for its first year to be held in its

had learnt so much about how to

them to collaborate more effectively,

Out moved interstate for the first time

inaugural year in Adelaide. The team

successfully get projects done in a

but it did not work. We didn’t have

to Adelaide.

led by Jodie Chetcuti, Leda Kalleske

in

Sydney,

and

forward.

students to participate.

their current projects that targeted

The critical mistake that we made

Wollongong

Bring on 2012.


03

“The launching of 40K Globe has been very exciting as it is symbolic of our new direction and has the potential impact of changing and improving the lives of thousands of families”

1.2 message from our Board Chair BOB THOMAS

were

all

offering

assistance

to

children worthy of emulation. Having joined the 40K Foundation very

of TAFE who have wholeheartedly

ensures

was also the year where clear

sponsored students for participation

excitement and the potential to

infrastructure

in the ‘40K Globe Project’.

make such a significant difference

was

created

to

establish an enormously exciting

partners,

future. From a Board perspective

The

the

repositioned

While

swept up in the euphoria surrounding

concert

the opening of the Banyan School,

the

it was also clearly obvious that a

was to ‘sell our message’ to the

representation ‘on the ground’ and

maximum advantage to severely

new direction was required as a

many 40K supporters who had

therefore the appointment of Rachel

underprivileged children who will

‘stepping stone’ for the Foundation.

most

embraced

Bennett as Country Manager was a

benefit greatly from our programme.

Was it to continue as the builder

construction of the Banyan School.

very exciting and positive initiative.

To that end I congratulate Clary

of another educational facility or

There was no Sydney ‘Big Night Out’

Immediately we became a charity

Castrission and Hamish Griffin for their

alternatively, was it to take our

to supplement our fundraising and

group with a vital footprint in the

tireless efforts, enormous workloads

message to potentially the masses

the creation of a new vision and

area where support was so critically

and wonderful inspiration that they

and provide literacy, numeracy and

direction always takes time to build

required and progress since then

have continued to provide for all

life skills to children who deserve a

up momentum. To that end the 40K

has been a revelation !

who support the 40K Foundation.

‘chance to be’ ? Indeed the answer

Foundation was enormously grateful

was a simple one to determine!

for the ongoing support of Deloitte

To that end, the launching of 40K

received outstanding support from

with

our

to new

aspect

enthusiastically

work

that

arose

40K

Foundation

required

40K

Foundation itself

has

now

to

offer

Bravo! Both gentlemen have also

Private and to the creation of a ‘Big

Globe has been very exciting as

a large number of staff, volunteers

Not so simple however was our

Night Out’ in Adelaide which is very

it is symbolic of our new direction

and support personnel who again

attempt

working

exciting in terms of expanding the

and

impact

combined to present a wonderfully

relationship with like-minded Indian

40K brand. There were also many

of changing and improving the

vibrant organisation throughout 2011.

based charity groups in Karnataka.

previous donors who continued to

lives

of

Fortunately, after due process, we

provide their most welcome and

The

Foundation

were able to establish meaningful

much appreciated support.

indebted for the ongoing support

extended to the Board for their

to

establish

a

has

the

potential

thousands is

of

children.

enormously

Finally

my

sincere

decision

thanks

of the University of Technology,

positive

While CEO Clary Castrission has

Sydney along with the University of

expertise

who, individually and collectively

indicated in his report that it was

Wollongong and Sydney Institute

Foundation into a position which

in

making

are

Dream a Dream and Hippocampus

contact with the Akshara Foundation,

a

future

abounding

in

in the lives of so many. Long may it

in

Board in August 2010 and being

difficult

happy

‘the year that had to happen’, it

guiding

the

and 40K

continue !


04

2.0

ABOUT The 40k Foundation

2.1 our mission EDUCATION CHANGES LIVES

Clary was advised by his law school mentor that he should “get his hands

Today, 40K maintains an office in

40K complements the facilities which

dirty,” rather than attempt to tackle

Sydney’s CBD, employing a full-

already exist in rural areas, ensuring

the problem from the corporate ivory

time CEO and COO, a part-time

equal access to quality education to

tower and, after seven years, remains

fundraising and events officer, and

all children, and a solid grounding in

our Chief Executive Officer. In so doing,

a variety of committed volunteers.

literacy, numeracy and life skills- the

Clary and Karyn returned to Sydney

These

basis for empowering them to take

with the idea to build a school outside

experienced Board, composed of

more control over the direction of their

Bangalore which they thought would

five senior and retired local business

lives and break the cycle of poverty.

cost $40,000- hence the name 40K.

leaders,

The name was kept because we

making a difference.

firmly believe that you need a touch of

2.2 our history

youthful idealism if you seriously want to tackle extreme poverty.

When Clary Castrission and Karyn Avery travelled to India during their

Our maiden project, the Banyan

university vacation in 2005, nothing

School, opened its doors in October

prepared them for the sight of

2010. Built in partnership with the

hungry,

for

Lovedale Foundation in India, this

abuse

school now has 180 children enrolled,

and alcoholism were harsh realities

and continues to grow from strength

of everyday life. Compelled to do

to strength. 40K’s partnership with

something about it, Clary and Karyn

Lovedale ended in 2011, as 40K

returned to Australia, determined

moved towards a different solution

to make a difference to the lives of

to the rural education problem in

these children, and do what it took

India, which is now the focus of 40K’s

to break the cycle of poverty.

operation.

whom

orphaned poverty,

children,

domestic

are

with

supported

a

by

commitment

an

to


05

“One of the principles of building businesses that we have learnt is the idea that you start small, test it, and if it works (and only if it works!) grow it.”

2.3 the storm The lessons learnt in the course

there was not going to be scope for

of rolling out such expensive schools

One of our directors said that it was

of the Banyan project led us to

a longer term arrangement.

was just not going to achieve that.

like getting married without dating

Hence, 2011, was about finding the

first. Thus, what we learnt from the

re-evaluate

our

concentrate

on

strategy

and

providing

high-

As such, when we took on the task

organisations in Bangalore who

school was that in going forward,

impact, quality education in literacy,

in early 2011 in finding new partners

had the best reputation in finding

all partnerships and project ideas

numeracy and life skills, through

to work with, we were certain to

low-cost, scalable solutions to the

would go through extensive trialling

more efficient channels that are

perform much more extensive due

education problem in India. The

before we got serious about rolling

scalable across India and the rest of

diligence to ascertain whether the

organisations we found: Akshara,

them out to bigger proportions.

the developing world.

organisations were going to be ones

Dream-A-Dream and Hippocampus

that we would share a great sense

Learning Centres fit the bill. Whilst in

2011 was the year we weathered

The key lessons learnt through the

of joint purpose and chemistry with.

2011, the evolution was never going

the storm of restructuring, trying to

building of the school were:

The due diligence for the new set of

to be complete, we were able to

create tangibility within a refocused

organisations went well beyond the

put ourselves in a position where we

education

1. PARTNERSHIP CREATION AND

legal checks we did with Lovedale,

were able to learn so much about

by building physical schools. It has

DUE DILIGENCE

but meant spending a lot of time

scalable and effective solutions to

been a difficult year but the lessons

with a broad range of their staff from

the education problem.

we have taken on board have

Over the course of the five year

Chairman all the way through to their

relationship

cleaners, to test how well we’d be

with

Lovedale,

we

learnt so much about cross-cultural negotiation

and

the

course

however,

of there

the

relationship,

were

rather

than

strengthened both the foundation 3. STARTING SMALL

of our platform and our resolve.

able to work together. One of the principles of building

partnership

formation and maintenance. Over

strategy,

2. POVERTY: COST-EFFICIENCY

businesses that we have learnt is the

AND SCALE

idea that you start small, test it, and if it works (and only if it works!) grow

certain

elements that were not working

The school took 5 years and $400,000

it. Without having done anything

between the two organisations, and

to build. In a country where there are

previously with the Lovedale we took

in the end these differences meant

110 million children who need access

on a project that was massive and

that each party mutually felt that

to a better education. The solution

way beyond our initial capacities.

4

e


06

“As a young organisation we are very conscious of the need to reflect upon the outcomes of our activities and innovating where necessary to overcome obstacles and achieve our goals.�

2.4 our core values EXTRA-MILE COMMUNICATIONS

SOCIAL ENTREPRENEURSHIP

INNOVATION

Donor engagement and associated

We strive to be entrepreneurial

As a young organisation we are

marketing

in our approach, evaluating our

very conscious of the need to reflect

consistent communications between

performance

implementing

upon the outcomes of our activities

donors and the beneficiaries of our

change, as appropriate. We aim to

and innovating where necessary to

recent activities.

structure sustainable projects that

overcome obstacles and achieve

are socially-responsible in scope

our goals. Our management team

and which can be scaled efficiently,

is lean and responsive to change,

in order to maximise the benefits

allowing us to be adaptable in these

they are designed to achieve.

difficult economic times.

strategy,

ensuring

and


07

“Our Board of Directors continues to provide us with much-needed leadership and strategic direction, ensuring 40K is governed effectively and complies with the appropriate regulatory standards.” 3.2 the board Our

3.0

BOARD

3.1 governance Our Board of Directors continues to provide us with much-

CHAIRMAN: BOB THOMAS

FOUNDING DIRECTOR AND CEO:

needed leadership and strategic direction, ensuring 40K

Former headmaster Knox Grammar,

CLARY CASTRISSION

is governed effectively and complies with the appropriate

Preparatory School, Sydney

COO: HAMISH GRIFFIN Hamish went to school at Knox

regulatory standards.

Clary was accidentally turned into

Grammar

when

a

Bob Thomas is a widely experienced

a

he

degree in Aeronautical Engineering

the Board may appoint any individual as a director. They

educator, having worked at Knox

was studying law at the University

at the University of Sydney during

meet monthly and are responsible for setting the policies

Grammar Preparatory School for 34

of Technology, Sydney.

His Law

which he published articles in the

and strategic direction for the organisation, approving and

years. Bob was the Prep School’s

Professor told him to get over to the

American Institute of Aeronautics

monitoring the annual budget, and otherwise monitoring our

Headmaster for 20 years until he

developing world and get his hands

and Astronautics. During the final

performance and financial health.

retired from the position in 2009.

dirty. His life took a complete change

year of his undergraduate degree

Bob brings a wealth of knowledge

and he set up 40K and found himself

he

and

the

getting more and more immersed in

environmental and global issues

educational sector and is currently

making it work. For his work associated

and

involved in assisting other schools,

with 40K, he has been awarded

further study completing a Masters

both in Sydney and overseas to

the Commonwealth Day Award for

of Environmental Engineering with

improve their operations.

Citizenship (2009), the Australia-India

Honors in 2008.

from

entrepreneur

undertaking

The minimum number of directors is five. The members of

understanding

social

before

became

concerned

proceeded

to

with

undertake

Friendship Award (20011) and was one of 3 Young Australian of the Year State

Hamish has had a close association

Finalist (2011).

with the 40K Foundation since its inception in 2005 and became the

Outside 40K, Clary lectures in law at

systems consultant and financial

the University of Sydney and loves

operator for ISAREEP ‘08. He joins

trying to play the piano and the run

Clary as part of the executive team

the occasional ultra-marathon.

in the 40K Sydney office.


08

DIRECTOR: ANDREW HIPSLEY

Senior Vice President – Chief Brand

DIRECTOR: LES SZEKELY

Managing

Director,

Former

Grand

Officer APMEA, Asia, Pacific, Middle

Capital,

East and Africa

Director, Deloitte Private

Tax

DIRECTOR: PETER DUNNE

Prix

DIRECTOR: GORDON STALLEY

Senior Partner, Freehills

Managing Director, Premier Fire Group

Peter has specialised in mergers and

Gordon is a fire protection engineer

acquisitions, private equity and private

and owner and Managing Director of

Consulting

McDonald’s Corporation Les worked as a solicitor before

capital raisings for 15 years, including 2

the Premier Fire group of companies

Andrew spent 10 years in sales and

teaching commercial and revenue law

years in London working in the Private

which has offices in Sydney, Townsville,

marketing roles with CSR in Sydney

at UNSW and then at Sydney University.

Equity group at Ashurst.

Mackay and Brisbane. The group is

and

joining

Les became a Director of Taxation at

Melbourne

before

one of the largest privately owned fire protection companies in Australia.

which

Deloitte Private, where he specialised in

Peter

has spanned several areas of the

tax planning and transactional work for

range of industries, including financial

business and many areas of the

high wealth clients. Les has authored

services, IT, property and general

Gordon is NSW President of the National

world.

industrials.

Fire Industry Association and on a

McDonald’s

for

a

career

has

experience

across

a

In his current role, Andrew

numerous books and is widely quoted

oversees the marketing, menu and

in the media as an authoritative tax

communications functions in the 37

specialist. Since leaving Deloitte, Les has

Recently, Peter was recognised as

Jove Theatre Company, a not-for-

markets and 9,000 restaurants that

dedicated himself to angel investing

a ‘Leading Lawyer’ in Australiasian

profit company which specializes in

McDonald’s operates in Asia, Pacific,

and mentoring young entrepeneurs

Legal

and

presenting the classics in two annual

Middle East and Africa. .

and is actively involved in growing early

ranked as one of Australia’s 20

festivals and other venues in the

stage businesses.

‘Leading Experts’ in private equity

independent theatre sector.

different note, Chairman of Sport for

Business

Magazine

law on ExpertGuides.com. Since leaving Deloitte Les has started

Gordon

up http://www.grandprixcapital.com.

supporter of 40K and joined the board

au/ and dedicated himself full time to

in February 2012.

angel investing and mentoring young entrepreneurs. He holds a number of directorships and is actively involved in growing early stage businesses, especially web base businesses.

has

been

a

long-time


09

4.0

WHERE We Work

4.0 our map All of our current projects are within and around Karnataka, the southwestern state of India, in which the city of Bangalore is situated, and where we built the Banyan school.

INDIA

However, our ambitions are not restricted to this part of India. In India alone, over 110 million children receive an ineffective primary school education, and over the coming years, we intend to scale our offering efficiently and within a meaningful timeframe.

THE STATE OF KARNATAKA

BANGALORE


Our

5.0

ACTIVITIES

5.1 our focus on education

5.2 focus on our communities

Whilst education is no less valued in

it became clear that the focus

The

India than anywhere else in the world,

needs to be education, rather than

quarries depend on the demanding

challenging the heritage of poverty,

nevertheless some 110 million Indian

construction.

labour of mining granite in difficult

but it is the most vital in equipping

conditions, with rudimentary tools and

children

ambitions of a life beyond the quarries.

children still receive an inadequate

community

surrounding

the

a

The new 40K direction aims to

little protective clothing. As a result the

situation replicated throughout the

address this, focusing primarily on

workers suffer a range of medical

developing world. This perpetuates

complementary education in literacy,

conditions. Most families live in small leaf-

the cycle of poverty, discouraging

numeracy and life skills.

thatched huts with no electricity, and little

primary

school

education,

41% of boys and 51% of girls in India

nutritional value in their meagre meals.

from pursuing their education at

Since a consistent and comprehensive

secondary school (UNICEF 2012), in

education is impossible under these

favour of exploitative labour paying

circumstances, younger children can

them less than $1.50 per day.

be left idle throughout the day. As they get older they are sent to work in the

The opening of the Banyan School

quarries, thus continuing to just barely

project was a significant milestone

survive in impoverished conditions.

in our journey, towards ensuring each of these children enjoy the opportunities and benefits of what a quality education can bring. However,

Education

is

with

just

one

part

opportunities

of

and


5.3 our supporters

5.4 fundraising & events overview

BARRY O’FARRELL

jOE HOCKEY

DELOITTE PRIVATE PARTNERSHIP

The NSW Premier, Barry O’Farrell MP,

On 30th August 2011, Joe Hockey

We were excited to enter into a formal

and his trade delegation visited 40K’s

attended our new projects launch,

partnership

Private,

40K had the support of over 70

Jukebox continues as our regular

even bigger event in 2012. Thank

Banyan school in Bangalore, on Friday,

unequivocally

need

which was designed to engage

runners who raised over $40,000 by

donors program, supporters making

you Adelaide!

18th October 2011. He launched the 40K

to export the things that matter for

their staff in solving a number of our

running either 42, 21, 9 or 4 kilometres,

monthly donations on an ongoing

International Volunteer Program, which

people hoping to get themselves out

core business challenges. We had a

not to mention the support from 15

basis. We would like to extend

will see 100 NSW university and TAFE

of poverty. Exporting the goodwill of

number of Deloitte Private staff help

volunteers who helped out at water

our sincere gratitude to all of our

students travel to India each year to

the Australian people is a key part of

us with challenges around marketing

stations from 5am!

Jukeboxers,

support 40K education projects in

40K- the engagement of Australians

and communications, social media,

developing communities.

and

our

budget and actual recording, and

the National Wine Centre in Adelaide JUKEBOX

SYDNEY RUNNING FESTIVAL

the

stating:

“we

development

of

with

Deloitte

and it was a very promising startsolid foundations were laid for an

MAJOR DONORS

a

Our major donors were significant

regular and continuing basis is the

in 2011. During a time of restructuring,

Much of the event’s participants were

lifeblood of 40K and allows us to

we really needed our donor base

their

support

on

reputation as a caring, passionate,

representing financial information to

made up of corporate supporters

operate smoothly and effectively

to be patient whilst we tried to

He stated: “this is a great initiative by

democracy-loving

our board.

from various organisations including

day to day.

figure it all out, and to trust that we

UTS,

University,

tolerant of the diversity of cultures that

Wollongong University along with TAFE

most importantly wants to empower

Deloitte Private also organised a

Lazard Asset Management, Clayton

NSW to ensure that 100 volunteers a

the poorest of the poor with a good

massive Big Night Out-style “Bollywood

Utz and Brown Wright Stein. A special

year come from NSW to support 40K

education.”

Night” whereby 350 staff and friends

mention must be made to Freehills

In 2011, the Big Night Out moved for the

tested us and challenged us at

initiatives across this part of India”

of Deloitte Private got together in their

who also raised an additional $9,000

first year to Adelaide. We decided

every step of the way, we are so

Barry O’Farrell MP said.

saris and koorthas to raise funds for

through corporate matching. We

to give the Sydney event a break

thankful that they stood by us.

40K and the Deloitte Foundation. We

would also like to acknowledge all

after it had run five straight years. A

We continue to benefit from this

would especially like to thank Tharani

of the individuals who ran for 40K.

team in Adelaide was assembled

relationship, and 40K will be the

Jegatheeswaran, Mike Stibbard and

by Jodie O’Dea, Nicole Baldwin and

beneficiary

the whole engagement team.

Leda Kalleske who had all been

UNSW,

Macquarie

of

a

charity

cricket

nation

that

is

were working to find a better way.

Freehills, Colin Biggers & Paisley, BIG NIGHT OUT (ADELAIDE)

Our major donors really stuck with us through this time, and whilst they

match, organised by the Premier, in

volunteers with 40K in 2010. The first

October 2012.

Adelaide Big Night Out was held at


12

Source of Revenue 2011

Fincancial

6.0

STATEMENTS

Other Income Other Fundraising Events Big Night Out General Donations Online Fundraising Other Donations Grants

As already elaborated, 2011 was

This year we can report that the 40K

a year of restructuring, and this is

Foundation’s application for full DGR

mirrored in our financial statements.

status has now been approved

We

40K

and we await only publication in

Foundation Australia Fund and the

the Gazette before this becomes

40K Foundation Australia Limited

official. This status will vastly improve

entities in 2011, to produce the results

our

tabled on pages 13 and 14. Without

from Private Ancillary Funds (PAFs)

a Sydney BNO last year our sources

and High Net Worth Individuals, the

of fundraising became much more

most likely sponsors of our new

heavily weighted towards general

Connected Program.

consolidated

the

donations and JukeBox. These numbers have been audited by Peter Vickers & Associates, who have been our auditors since 2006, and who have been approved at our 2011 AGM to continue to do so.

ability

to

source

Jukebox

donations

Source of Revenue 2010 Other Income Other Fundraising Events General Donations Jukebox Grants Big Night Out Other Donations Online Donations


consolidated financial statements

13

Consolidated Entity 2011 2010

The 40K Foundation Australia Limited 2011 2010

The 40K Foundation Australia Fund 2011 2010

Fundraising Events Donations Online fundraising Recurring donations

42,951 97,843 47,581 28,905 3,000

153,363 108,467 66,575 13,810 9,482

27,997 10,858 0 0 3,000

145,753 44,884 0 0 9,482

14,954 86,985 47,581 28,905 0

7,610 63,583 66,575 13,810 0

Interest Other income Inter-entity transactions

867 1,421

393 2,500

136 1,421

217 2,500

732 0

177 0

222,569

354,590

110,413 153,825

5,500 208,335

179,157

151,754

0 24,600 11,875 15,096 27,262

2,736 108,000 0 0 88,133

0 0 11,875 15,096 25,940

2,736 0 0 0 73,215

0 24,600 0 0 1,323

0 108,000 0 0 14,918

152,321 3,032 2,436

72,454 1,787 20,059

152,321 3,032 974

72,454 1,787 18,438

0 0 1,462

0 0 1,621 5,500 130,039

21,715

Revenue Donation and gifts

Grants Other income

Total Revenue Expenditure International programs

Lovedale Foundation AIDA Akshara 40K Programs

Fundraising costs Accountability and administration Office Expenses Volunteer Expenses Other Inter-entity transactions Total expenses

236,623

293,170

209,238

168,631

110,413 137,798

Excess/(Shortfall) of revenue over Expenditure

(14,054)

61,420

(55,413)

39,705

41,359

*These incomes or expenses are inter-entity within the group. Therefore they are not shown in the consolidated entity Note; There were no expenses for community education in 2011 or 2010 No Single appeal, grant or other form of fund raising for a designated purpose generated 10% or more of the organisation’s international aid and development revenue for the financial year. The full financial report which has been prepared by Peter Vickers (CA) is available on request by emailing info@40k.com.au or calling the 40K office on 02 9221 4030


Acknowledgements

Adelaide Amy Guy Williams Sally Giblin

7.0

FROM 40K

7.1 current volunteers

Amber Lewis Elyse Trotter Alex Moore Angela George Jodie Burger Danny Connery

7.2 key pro-bono supporters

Nicole Baldwin ONCE AGAIN, A BIG THANK YOU TO

It is because of our volunteers that

Marise Kalika

Corporate support continues to play

We would further like to include Lucy

OUR DEDICATED AND EXCEPTIONAL

40K has managed to weather the

Brad Baldwin

a crucial role in our ability to achieve

Squire of Foxtel, who has donated

VOLUNTEERS

Storm and resume our activities with

our ambitious goals, and our deepest

her time and expertise in assisting us

gratitude goes to those businesses

with public relations advice, whilst the

and staff who have demonstrated

strategic planning guidance we have

commitment to our cause.

received from Michael Downey has

renewed vigour, ever-motivated by We had 30 dedicated volunteers

the desire to change the lives of

who deserve to be acknowledged

underprivileged children.

for their hard work and commitment

Marieke Evers Nathan Hauser Celina Siriyos Kai-Lin Sze

proven invaluable in negotiating our Our sincerest thanks go to Freehills,

way out of the Storm.

in 2011. They are the lifeblood of our

Thank you first to Pip Steele-Wareham

organisation and we continue to be

who joined us in September as our

extremely grateful for their support and

Head of Fundraising and Events. Pip

Jodie O’Dea

pro-bono legal services, as they

Finally, the Sydney Running Festival

the donation of their time and skills.

came on board to really systemise

Jovana Vasilvejevic

have since 2006, ensuring we remain

saw over 60 people from companies

compliant with our legal obligations as

such as Freehills, Colin Biggers &

a Non-Profit organisation in Australia.

Paisley, Corrs Chambers Westgarth,

our fundraising, and her passion and

Matthew Clarke

Kate Leung

who continue to provide 40K with

In 2011, our office in Sydney’s CBD was

commitment was unwavering. We

the hub of all our activities and we

would also like to particularly thank our

strive to make it an open and inclusive

team leaders this year: Jodie Burger

Lucy Squire

Likewise, the continuing support of

Utz and Brown Wright Stein add

environment, in which both volunteers

(research), Guy Williams (fundraising),

Lucy West

Peter Vickers & Associates, through

substantially to our total amount raised.

and staff can interact with ease and,

Elyse Trotter (projects) and Lexi Miller

more importantly, have fun.

(admin). Thank you as well to the whole team:

Leda Kalleske

Paridhi Jain Stacey Packer Stephanie Rajalingam Wendy Glasgow

Lazard Asset Management, Clayton

the provision of their accounting expertise,

remains

vital

operational effectiveness.

to

our


16

Thank

8.0

YOU

2011 was a tough year, but one that was necessary for the organisation to take further strides forward in the future. We are grateful for your continued support and patience in this, our new direction towards empowering underprivileged children to aspire to things greater than the life into which they have been born. Together we can work to ensure every child has access to their fundamental right as human beings to a childhood and an education.


40K Foundation Annual Report 2011  
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