Finance The Foundation is pleased to report that it has experienced a successful year with its net assets increasing by $1.9 million from 2020 to $20.5 million at the end of the 2021 Financial Year. This is an important milestone for the Foundation as it is now positioned two thirds the way along its path to reach the target of $30 million by 2028. This was the highly ambitious target set by the Board in 2017 and at times seemed a little daunting; however, achievement of this position by the 120th Anniversary of the School’s founding is hugely encouraging and the Foundation remains committed to its guiding principle to build long-term financial security for Perth College. Stewardship of funds donated to the Foundation is a key responsibility of the Board. In order to do this in a highly professional manner the Board established an Investment Committee which operates in accordance with its Charter and the investment parameters established by the Board through its Investment Policy Statement. The Investment Committee continues to work closely with the appointed Investment Manager JB Were and, consistent with the requirement to continuously monitor and adapt to a changing investment environment, a comprehensive review of policy parameters was undertaken in 2021 to appropriately position the Foundation for the years ahead.
As has been our approach since inception, the Foundation continues to respond to shorter term priorities, most notably growing the Scholarship base, whilst remaining committed to growing the capital base such that since inception, the School has received contributions from the Foundation totally nearly $2 million which is a significant proportion of total funds raised over that timeframe. This is in addition to the inclusion in the Foundation’s portfolio of direct real estate investments which serve the School now and into the future. In keeping with the Foundation’s culture of transparency and responsibility to Donors, the following charts illustrate the growth of each of the Foundation funds from 2012 to the present. Given our focus on building the Foundation’s capital base, it is worth noting that as the capital grows, the impact of dividends and realised and unrealised capital gains represent increasing significance for overall returns for the Foundation (Reference Pie Chart of 2021 Income) and this is a consistent expectation of our longer term strategy. However, the Board is only too well aware of the challenges of investment markets, both international and domestic, and donations will continue to play a central role in ensuring that the Foundation is able to meet its long-term target. This will be particularly relevant as we face what will undoubtedly be a difficult investment environment in the next few years as the global economy is impacted by the ongoing conflict in Ukraine and rising inflation is tackled domestically. We therefore remain reliant on the continuing generosity of the extended School community to meet our commitment to secure long-term financial security for Perth College.
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Perth College Foundation Inc. 2021 Annual Report
