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Community and Philanthropy Partnerships Week.

Community and Philanthropy Partnerships Week.

Chris Morcom
Partner/Private Client Adviser
6 Dec 2016

This week is Community and Philanthropy Partnerships Week, an initiative that celebrates the ways in which partnerships between grassroots community groups and philanthropy build strong and vibrant places to live and work.

Hewison Private Wealth is a proud supporter of the philanthropic sector. Over the past two years, we have been a sponsor of the Annual National Forum of Australian Community Philanthropy (ACP). ACP is the peak organisation for Community Foundations in Australia, assisting them to establish, grow, and achieve their objectives.  

The Annual National Forum is an opportunity for community foundations from all around Australia to network, learn from each other, exchange ideas, and think strategically and collectively about the future of community philanthropy.

What are community foundations, and why are they important? 

Community foundations are place-based, independent, community-owned philanthropic vehicles.  They exist to create a financial asset and build social capital for public benefit in a specific geographic location, such as a town, city or region. They are managed or advised by voluntary boards made up of local people.
Many community foundations allow individuals to establish philanthropic sub-funds under the auspices of the foundation. This allows individuals and families to pursue their philanthropic endeavours in their local communities, and beyond.

Why is careful financial management crucial for community foundations?

Effective investment policies for foundations should be tailored to focus on the achievement of the individual Foundation’s objectives, both short and long term. Access to reliable income to fund grants and expenses is important, but equally important is growing the assets of the foundation to increase the grants available in the future.  

Another often overlooked aspect of managing the affairs of foundations is regular and tailored reporting back to the boards. It is important for community foundation boards to have clear vision of their investment strategy and how their investments are performing in relation to their objectives. Regular board reports form an important risk management tool for community foundation boards, also enhancing board member’s understanding of the strategies in place for their organisation.

What value does Hewison Private Wealth bring to community foundations? 

This year Hewison Private Wealth presented a session at the Annual National Forum, which focused on how community foundations can develop effective investment policies and strategies. The session also delved into effective investment management focused on the provision of reliable cash flow to meet the specific needs of foundations. The presentation drew on our years of practical experience in managing the affairs of a number of community foundations and not-for-profit organisations.

We work with boards to develop tailored policies and strategies, and also provide services to implement and administer investments for foundations.  If you think your not-for-profit organisation could benefit from our expertise, please contact us.

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.