The Buderim Foundation Fund, raised purely through donations and fund raising activities, reached the $2 million mark at the beginning of 2020. This money is invested and the interest gained provides community grants to the 4556 postcode area.
In early 2021, philanthropists Nola and Roy Thompson donated $5 million to the Foundation and the Buderim Foundation Thompson Fund was established. The interest gained from this Fund provides grants to people in necessitous circumstances throughout the wider Sunshine Coast region.
The money held in the two Funds is never spent thanks to three very committed sponsors, who cover the majority of the Foundation’s administration costs.
All funds are invested and the investment strategy is to adopt a conservative stance in order to maintain a stable, income-generating fund for future generations, and to maintain tax exempt status.
The Investment Committee, comprising Directors and experienced financial advisers, has been appointed to supervise the investment of monies entrusted to the Foundation. The Committee’s aim is to preserve and grow the capital held in the Funds through prudent investment, at this stage chiefly in term deposits and ASX listed shares.
The ultimate goal is to grow a diversified portfolio of assets which will generate a secure stream of income. This will then ensure an increase in the number and size of the grants made available.
The Annual Report for year ending June 2021, provides an overview of cash flow, fund growth and earnings available for grants.