Role of the Foundation
When our Founding Sisters arrived in Perth, their vision was to build a school which provided an environment in which girls from both city and country Western Australia could flourish and take their place as significant contributors to the communities in which they resided. Whilst the Sisters delivered education in a variety of locations in the early part of the 20th century, they were eventually able to purchase the land in Mount Lawley on the site where Perth College now stands. This was enabled by generous donations from benefactors William Loton and Septimus Burt.
The modern Perth College remains inspired by the values of the Sisters and their holistic approach to education underpins the belief that education will empower our students to determine their own destinies. However, if the School is to continue delivering a first-class educational experience, it must be recognised that fees and existing government grants are able to fund only the School’s operational requirements, the majority of which is dedicated to staff salaries. The construction and refurbishment of facilities, the expansion of our Scholarship program and the rich cultural experiences provided by the
School depend on further financial support. In fact, the facilities which the current cohort of girls enjoy and the majority of scholarship opportunities offered, are largely the result of the generosity of generations past and have been made possible by the culture of giving which has always been a hallmark of the School.
Against this background, and in recognition that concerted efforts were required to ensure the School’s future financial security, the Perth College Foundation was launched in 2012. The Foundation is therefore the modern vehicle which continues to promote the Perth College “culture of giving” which has long sustained the School and is the entity through which financial support from our community is directed. It is the passion and commitment of our donors within the broad Perth College family that has built the School it is today, and it is hoped that, through the work of the Foundation, there will be continuing generations of supporters willing to invest in the School and its future generations of students.
GUIDING PRINCIPLES
The primary objective of the Foundation is to build long-term financial security for the School to ensure that Perth College will always be able to offer first-class educational facilities, a quality learning environment and the maintenance of its strong sense of community, thereby ensuring the continued provision of exceptional opportunities for all our students.
This will be achieved by judicious allocation of funds, over time, for:
• Capital works projects, land acquisitions and refurbishments in support of the School’s long-term Master Plan
• Expansion of our scholarship base to ensure the School maintains its richness and diversity by providing opportunities to deserving girls from all walks of life who might otherwise be unable to enjoy a Perth College education
Photo: ‘Sky is the Limit’ sculpture by Inbar Tolla in the Big Quad Front Cover: Junior School students
Reflections from the Principal
In 2021, our focus is on courage which is one of the School’s three key values of capable, courageous and caring. I spoke at the 2020 Presentation Night about how the heart of Perth College came alive last year, as we worked together to combat COVID-19 and keep our community safe. We are extremely grateful for the support of our community over the last 12 months, which has come in many forms including email, letters, conversations and financial donations.
While it has been a challenging year, it has also been fruitful. Our progress continued throughout 2020 and into 2021 as we strive to achieve our Strategic Intent.
Three of our strategic focus areas for 2021 are:
• Launching the sparc framework for Pre-Kindergarten to Year 10 students, and growing relevant partnerships
• Developing a whole-school Service Learning program
• Planning for some future building and renovation projects
Some of our recent achievements include:
• Adding an extra Year 5 class in 2021
• Appointing a Learning Analytics Timetabling Project Co-ordinator who has led the redesign of the School’s new timetable
• Ensuring the timetable supports our new sparc learning framework in the Junior and Senior Schools
• Redesigning our holiday and vacation care programs, resulting in a greater variety of courses on offer with several of them now having waitlists
What is sparc?
Last year, we started to develop our new framework, sparc, which is based on experiences that spark passions, grow attributes and build relationships to contribute to the world. Students from Pre-Kindergarten to Year 10 take part in a wide range of experiences to grow their skills in critical and creative thinking, entrepreneurship, STEaM, service, communication and global awareness.
It is envisaged that, alongside our Pastoral Care team and InsideOut program, sparc will help provide our girls with a powerhouse of life experiences and tools to prepare them for life after Perth College.
Our continued progress relies on community support, which we welcome through the Perth College Foundation, or through the School directly in conversations with me.
You are most welcome to meet with me if you would like to know more about any of the projects mentioned, or to simply chat about Perth College.
Sincere thanks from all the staff at Perth College for your continued support.
Helen Aguiar
PRINCIPAL OF PERTH COLLEGE
Message from the Chair
In my message for the 2019 Annual Report, we were reeling from the lockdowns across the country necessitated by COVID-19 and were quite unsure of how the future would unfold.
When we were required to suspend all activities, I was sure that we would suffer a material stalling in the growth of our funds which had steadily improved since the Foundation’s inception in 2012/13. However, just when the prevailing COVID-19 circumstances appeared to signal a seriously difficult year ahead for the Foundation, we were buoyed by the most amazing support from two incredibly generous members of our community. Each of these significant donations allowed the expansion of our scholarship base which is a core objective in the philanthropic vision of the Foundation and details are provided in the Scholarship section of this Report.
On the investment front, it was not unexpected that the share market mirrored the uncertainties within the community and lost significant value in the first quarter of the year. Fortunately, with guidance from our Investment Manager, the Foundation’s Investment Committee was able to navigate a reasonable path through the market challenges.
I am therefore pleased to be in a position to report that, as a result of portfolio performance and donations received during the year, the assets of the Foundation were $18.6 million at the close of the 2020 Financial Year, an increase of $1.7 million from 2019 on a market value basis; a full explanation of the overall financial position is contained in this Report.
Having weathered the storm in 2020 however we recognise that 2021 will present its own very challenging investment environment which will require vigilance and constant interface with our advisers to ensure we optimise returns on the funds which we steward on behalf of our generous donor community.
Our board saw a number of changes during 2020 with the appointment of Old Girl Tracey Dembo (Independent Director) and Geoff Mather (Council Representative); and more recently Alex Hurst joined as a Council Representative. Whilst 2020 presented
challenges due to COVID restrictions, nonetheless the board was able to maintain is meetings schedule by way of video conferencing and I remain grateful to my fellow directors for their continuing commitment.
Having now put the challenges of 2020 behind us, the Foundation is looking forward to the coming year during which we will actively reconnect with our community upon whom we so heavily depend. We also remain focused on our long term strategy to grow the Foundation’s capital base to a critical mass which will then ensure that we can generate sufficient ongoing earnings to secure the long term financial security of the School. Whilst keeping this longer-term goal in mind, the Foundation remains committed to year-on-year support to the School and is proud that we have been able, since inception, to outlay direct assistance of $1.7 million to meet both Scholarship commitments and other priorities nominated by the School from time to time.
Clearly the success of the Foundation and the work we are able to do in the interest of the School’s long term financial security is totally dependent on the support of the broader Perth College family. We therefore extend our ongoing gratitude for your individual and collective support now and into the future and assure you the Foundation is driven by the enduring aim that Perth College will continue to inspire generations of girls through exposure to world class educational excellence.
With best wishes.
Karen Field
CHAIR OF PERTH COLLEGE FOUNDATION
Foundation Board
The composition of the Perth College Foundation Inc Board is governed by its Constitution. The Board's Charter is to ensure appropriate and accountable management of funds held by the Foundation and to provide the necessary oversight on all governance-related matters.
Board Members
Karen Field Chair, Independent Director
Tracey Dembo Independent Director
Ex-Officio
Jane Scott Council Representative
Angel Chen Old Girls’ Association Representative
Helen Aguiar Principal Ross Gilchrist Director – Finance And Commercial Services
Marketing And Community Relations Staff
Caroline Risah Alumni and Foundation Assistant
Natalie Swannell Alumni and Foundation Co-ordinator
Alex Hurst Council Representative
Bree Ludlow Independent Director
Impact
Living Generously –
Growing the Foundation’s Scholarships
One of the guiding principles of the Foundation has been to expand its scholarship base as we firmly believe the impact will be long lasting. The experience of the program over time truly enriches the diversity of the School by providing scholarships to girls who might otherwise be unable to enjoy a PC education. For those who have attended one of our scholarship breakfasts and heard the stories of some of our past recipients, it also provides a wonderful platform for recipients to optimise opportunities throughout their lives.
During 2020 when the impact of COVID-19 forced us to suspend all activities, including fundraising, the Foundation was both surprised and delighted to be approached by two members of our community who wished to remain anonymous but donated significant funds which has allowed us to expand our scholarship offering. This has resulted in the Foundation being able to award an additional scholarship in 2021 to a rural-based student as well as enabling four students to attend the School through the establishment of a Bursary Fund which subsidises Tuition Fees. Our grateful thanks are extended to these most recent Donors and to all who continue to support the Foundation’s important objective of growing our scholarship funding base.
Geoff Mather (Council Representative) served as Treasurer throughout 2020 and resigned March 2021. Geoff will be replaced by another Council Representative. Tracy Williams (Executive Assistant) has served as Board Minute Secretary for the duration of Natalie Swannell’s absence whilst on parental leave.
Margery MacGibbon Memorial Bursary 2021 recipients, from left to right, Ruby (Year 10), Ivana (Year 7), Lucia and Alexia (Year 9).
Christine Barnetson Scholarship recipient Zara (Year 7).
Finance
Growth of Foundation Funds
The Foundation was established as a philanthropic entity to receive donations, the purpose of which is to secure the long-term sustainability of the School. As the Foundation was launched as recently as 2012, the Board has been very focused on building a strong capital base which, in the long term, will deliver a reliable and ongoing income stream for the benefit of the School.
Given the importance of judicious stewardship of these funds, the Investment Committee of the Board works closely with the appointed external Investment Manager, JB Were, to ensure that we remain responsive to the ever-changing investment environment. This was an imperative in 2020 as we navigated the impacts of COVID-19 on domestic and international markets and, as demonstrated in the charts, we are pleased to report that our three funds performed well during 2020, notwithstanding the significant market volatility.
Whilst the Board remains committed to its strategy of growing the capital base, this has not been at the expense of meeting shorter-term priorities of the School which has received contributions from the Foundation totalling $1.7 million since inception. This is in addition to the inclusion in the Foundation’s portfolio of two real estate investments which serve the School now and into the future.
The volatility of 2020 and the fact that a significant portion of the Foundation’s investments are dependent on share market performance, has highlighted the need to have financial reporting that reflects the underlying market value of the funds under management, rather than at cost. Investment Committee meetings review and make portfolio recommendations based on the market position of the Foundation’s portfolio. Accordingly, the Board of the Foundation resolved to change the accounting policy to report portfolio positions on a market value basis at reporting date rather than on a cost basis. This is reflected in the attached charts.
Prudent management of fund capital and earnings, together with the generous contribution from our community, has steered the Foundation over the eight years since its inception to a net asset position of just over $18.6 million at 2020 year-end, an increase of $1.7 million from 2019 ($16.9 million) on a market value basis.
As in earlier years, the graphs confirm that, notwithstanding pleasing investment performance through 2020, the single most significant element in growing our capital base is donations, whether they are through bequests or aggregated donations year-on-year.
The ongoing generosity of our Perth College family therefore remains critical if we are to grow our funds so that the long-term sustainability of the School and its ability to deliver world-class education in fit-forpurpose facilities, is to be maintained.
This bar chart illustrates the growth in value of each of the individual Funds. These pie charts show the make-up of income and donation revenue for 2020.
2020 Donor Honour Roll Perth College
...over a century providing boarding and educational excellence for girls...
1920’s
Sincere thanks to our community who consistently support the School through the auspices of the Perth College Foundation. Listed below are the names of Donors who gave gifts from 1 January 2020 to 31 December 2020; their generosity was especially appreciated during a year when all the Foundation’s activities were suspended due to COVID-19. Anonymous (2)
Mrs J Barnwell OAM
Mrs M Blechynden
Mrs B Butters
Ms A Chen
Mrs G D’Andrilli
Ms C Demasi (Cotilde)
Mrs J Drake-Brockman
Mrs K Field
Mrs S Fraser
Ms E Gamble
Miss E Gilchrist
Miss V Gmeiner
Mrs B Grieve (Berwyn)
Mrs G Hayden
Miss R Jonas
Mrs E Junk
Mrs L Keen and Mr B Keen
Mrs L Liwszyc
Mr J Lo and Ms N James
Ms V Mayger
Mrs M McCart (Betty)
Mrs T McDiven
Mrs E Merryweather
Dr J and Mrs J Neilson
Mrs Betty O’Reilly (Dec)
Mrs B O’Shannessy
Mrs L Purser (Lyn)
Mrs S Robinson
Mr P Rose
Mrs P Saunders
Dr J Scott
Mrs W Scudder
Miss M Selleck
Miss J Singh
Mrs D Slater
Mrs N Swannell and Mr M Swannell
Mr M and Mrs P Tam
Drs M and M Wertheim
JACARANDA SOCIETY
The Jacaranda Society was established to provide a sense of community amongst like-minded individuals who advised they would like to leave a gift to the Foundation from their estate.
Thank you to all our members whose generosity will have a lasting impact on the School.
2020’s
Perth College Foundation
...actively planning for the next 100 years...
Whilst holding on to our heritage, the Perth College Foundation recognises that the School must constantly change to ensure it continues to deliver first class education in fit-for-purpose facilities. The Foundation is committed to supporting these endeavours and is driven by its primary objective of securing the long-term sustainability of the School.
DONATIONS
If you would like to make a donation of any kind, please visit the Perth College website at www.perthcollege.wa.edu.au. Alternatively, should you wish to discuss options on a confidential basis, please contact the Perth College Foundation Office (Caroline Risah, Alumni and Foundation Assistant) on 9471 2196 or email foundation@pc.wa.edu.au.
Boarding House Dormitory Boarder’s Sitting Room
Individual Bedroom/Study Boarders relaxing after school
