“We are delighted that together the Future Generation companies are on track to donate almost $7 million to charities working to better the lives of young Australians,” says Louise Walsh, CEO of Future Generation Investment Company Limited (FGX) and Future Generation Global Investment Company Limited (FGG).
Under the innovative model, the companies donate 1 per cent of net assets each year to Australian nonprofits in the two chosen cause areas: children at risk and youth mental health.
This year’s expected donation of $6.82 million will bring the companies’ donation tally to $13.18 million in the space of just three years.
“FGX is expected to invest $3.82 million in children and youth at risk, which would bring its total donations to $7.75 million since September 2014,” Walsh explains.
“FGG is currently on track to deliver a donation of more than $3 million, equating to a total of at least $5.43 million donated to charities focused on youth mental health since inception in September 2015.”
Aiming to inspire greater private and corporate philanthropy, FGX and FGG Founder and Director, Geoff Wilson, says the donations are made possible by the skill and generosity of the companies’ fund managers and service providers which have delivered savings of $3.65 million.
“Our fund managers forgo both management and performance fees, allowing the Future Generation companies to donate 1 per cent of assets each year. The combined donation would not be possible without their incredible generosity. We cannot thank them enough.”
Walsh says the companies are serious about tracking philanthropic impact and a customised social impact framework has just been completed for Future Generation Global that will be used to assess its impact in the area of youth mental health.
Hear more about Future Generation’s commitment to philanthropy and Geoff Wilson’s thoughts about leadership at the 2017 Generosity Forum: March 29, Melbourne.