A Foundation for the future - 5 June 2007
South West businesses riding high on the economic boom are being asked to contribute to a community foundation fund designed to support the future well-being of the region.
The South West Community Foundation fund will help fund local projects and activities that make communities better.
The first of its kind in WA, the fund is expected to raise $500,000 by the end of the year and have around $2 million in the kitty by the end of 2008.
Earnings from the fund, which will remain invested in perpetuity, will be used to support community efforts. A South West advisory committee will make recommendations on what projects should be supported by the fund.
The South West Development Commission’s Jon Birch, who helped set up the project, said the foundation fund would give businesses and philanthropists a safe, efficient and effective way to invest back into the community.
“The concept is similar to the Bill and Melinda Gates Foundation, which aims to deal with global health issues in an effort to improve lives around the world,” he said.
“The point is this community fund can make a huge difference.
“A lot of funding is driven by economic rationalism – what is the return on investment.
“The community fund will support projects that cannot easily be measured using a standard return on investment calculation but will make a big difference to the community.
“The more contributors give to the foundation fund, the more we can do and the more robust our community will become. It will enable the South West to buffer against uncertainty and improve our quality of life.”
The fund was kicked off earlier this year with a $100,000 contribution from the State Government. Local businesses have already started chipping in, with Dale Alcock Homes South West contributing $70,000 and Alcoa donating $20,000.
SWDC board member and foundation committee member David Trench said there were other businesses and community members who would be able to contribute to the fund.
“There are a lot of people and businesses making a lot of money out of the South West boom,” Mr Trench said.
“Many of these people and businesses are happy to give back to the South West community. But in the past there has been a lack of opportunity to do that effectively.
“The foundation provides that mechanism.”
One of the first projects to kick off with the help of the foundation is a “mobile youth space”, a state-of-the-art caravan jam-packed with sport, musical and computer equipment that will provide and support youth activities for South West communities.
SWDC board member and foundation committee member Posy Barnes said the project showed how the foundation was a real community initiative.
“It is a great way for people who love the South West to give back to their community,” she said.
“The inaugural project, the mobile youth space, is an innovative opportunity for all young people in the entire South West to benefit from the foundation’s philanthropic philosophy.”
Mr Birch said the foundation would support community groups, businesses, local governments and individuals trying to get projects off the ground that contributed to the future of the region.
He said the foundation was accountable to the WA Community Foundation, which had the WA Governor as patron and Premier and State Opposition Leader as vice patrons.
“It is an assurance to those who contribute to the fund that the three most prominent men in the State are behind the concept,” Mr Birch said.
Patron of the South West Foundation, Leeuwin Estate managing director Tricia Horgan, hoped to host a John Butler Trio concert at the estate early next year to help raise awareness of and money for the fund.
Mr Birch said he hoped the generosity shown by businesses such as Dale Alcock and Alcoa would be mirrored by other businesses, big and small, that had reaped great rewards from the region in recent times.
He said individual donations and contributions from bequests could also be given back to the community via the fund.
For more information on the South West Community Foundation call Mr Birch on 9792 2023 or log on to www.swcf.org.au
Media contact:
Scott Maclean
Communications and Marketing