2011 2010 ($’000)
What Wyatt Earned
Interest 347 356
Dividends and Distributions 5408 3187
Profit on Sale of Assets 1709 440
Other Income 8 87
7472 4070
Administration Costs 887 808
Impairment to Market Value
of Investments 374 284
1261 1092
Net Income 6211 2978
Wyatt Grants Paid
Housing Assistance 2209 822
Financial Assistance Grants 786 724
Scholarships and Education Grants 942 925 3936 2471 Retained for ongoing intentions/
(Paid out of Reserves) 2275 507
Revaluation/(Devaluation)
of Investments (1137) 2358
What We Own
Cash and Short Term Deposits 4190 4734 Land, Buildings and Contents 3925 4010 Equities and Longer Term Deposits 54395 53382
Other Assets 1591 753
64101 62879
What We Owe 242 158
Our Combined Assets 63859 62721
C O N D E N S E D
F I N A N C I A L
R E P O R T
F O R T H E Y E A R E N D E D
To William Wyatt, Surgeon. In testimony of the esteem and gratitude of his fellow townsmen for his humane and unceasing attention to the poor during the awful visitation of malignant cholera at Plymouth. AD 1832.
These words are inscribed on a gift given to a young and courageous William Wyatt before he came to South Australia in 1837. After contributing much to society in the founding years of our colony, Wyatt established through his Will a benevolent institution for assisting South Australians who found themselves in poor or reduced circumstances.
Staying true to the character and intent of Wyatt in his humane and unceasing attention to the poor still motivates Governors and staff of the Institution 125 years later.
William Wyatt also helped create and maintain organisations essential for health, education and wellbeing that still serve us today. The Royal Adelaide Hospital, private and public schools, and the Royal Botanic Gardens are just a sample. In the last year, the Wyatt has challenged itself once more to be as relevant now and into the future as William Wyatt proved to be so long ago. We embarked on a major review of our grants and ways of operating, employing Social Ventures Australia to catalyse our thinking and planning, and consulting with community leaders and stakeholders. We asked hard questions on our effectiveness and efficiency, all in context of Dr Wyatt’s instructions.
Wyatt’s new Strategic Statement is included in this report. Steps have been taken to organise and align our actions with the new strategic plan.
2011 also represented a high water mark for grant giving by Wyatt. In 2008 Wyatt set up the Initiative Fund to provide large one-off grants over five years – taking advantage of the Fund’s significant growth in the favourable financial climate of 2003 – 2008. This year the Initiative Fund provided $1,920,405 for affordable housing with partners Junction Housing, Portway Housing, Unity Housing, HomeStart and 17 Preferred Support Provider organisations. Wyatt support helps partner
organisations to provide low cost accommodation to South Australians on very low incomes.
The Initiative Fund has coincided with federal and state governments’ initiatives to provide new affordable housing in 2010 and 2011 under the Nation Building Economic Stimulus Plan, and has given many South Australian families who were homeless new low cost accommodation. Wyatt’s contribution has extended to providing 244 packages of financial support to assist with household goods for the new tenants.
Wyatt is a significant supporter of the provision of financial counselling delivered by partner organisations to people experiencing financial crisis. 1105 individuals or families were funded to receive financial counselling in 2011 and this is a very effective intervention. We are convinced that the expansion of this service is necessary for the wellbeing of families and the community in SA, preventing ramifications that are much more costly to the community and government. Wyatt is pleased to join with 10 metropolitan and rural schools to provide the Bultawilta Scholarships to young Indigenous secondary students to promote their successful inclusion in their school, and their ability to stay at school to Year 12. We are extending this program, one of a range of education opportunities provided by Wyatt.
Including the Initiative Fund, a total of $3,936,301 was provided for grants in 2011.
Employment Opportunities $425,745
Education Retention and Re-engagement $515,958
Financial Wellbeing $785,595
Housing Options $288,598
Initiative Fund (housing) $1,920,405
We have valued and learnt from our engagement with our philanthropic colleagues in South Australia and nationally through Philanthropy Australia and are committed to continue these relationships to support local grant making.
We achieved a very good result with our investment and asset management strategies in 2011.
As Australia partially emerged from the global financial crisis, our investment income grew to support the intention to make the grants I referred to earlier. Administrative costs have been kept under control – the only spending increases being associated with our endeavour to make our grant program more effective.
I would like to acknowledge the efforts and skills of my colleagues, the Wyatt Governors and of the Wyatt staff in a year of heightened activity, intellectual challenge and change. There have been staff changes – new appointments and the departure of long serving persons Pauline Dundas and Hilary van der Wolff.
It has been a year where the Wyatt has offered valuable opportunities to many South Australians, and acted with intent to keep doing so.
Tony Scammell Chairman
C H A I R M A N ’ S R E P O R T
W Y A T T S T R A T E G I C S T A T E M E N T
2 0 1 1 - 2 0 1 6P A R T I C I P A T I O N
Wyatt offers opportunities for South Australians experiencing poverty so they can lead satisfying, productive lives and participate more actively in the community.
Established in 1886 through the will of Dr William Wyatt, the Wyatt Benevolent Institution Inc (Wyatt) has provided grants, scholarships, housing and other financial support to more than 30,000 South Australians experiencing financial hardship. Over the next five years Wyatt will:
• Continue to deliver an innovative grants program; • Focus support to achieve measurable outcomes; and • Be active in the South Australian philanthropic sector
to share knowledge, promote collaboration and leverage our impact.
Wyatt’s projects will focus on:
• Low income families struggling to manage household budgets, education and housing;
• People experiencing illness or disability which limits employment;
• Young people with limited opportunities for education and employment;
• Carers on low incomes experiencing financial hardship and social exclusion; and
• Older people with limited financial resources.
O U R F O U R T A R G E T A R E A S E M P L O Y M E N T O P P O R T U N I T I E S E D U C A T I O N R E T E N T I O N A N D R E - E N G A G E M E N T F I N A N C I A L W E L L B E I N G H O U S I N G O P T I O N S E M P L O Y M E N T
Wyatt will increase employment opportunities for people by • supporting transitional pathways into sustainable
employment through scholarships for training and work experience
• supporting the creation of employment opportunities through the development of innovative community and business partnerships
• providing material assistance to people engaged in seeking and maintaining employment.
By the end of 2016 we will have increased employment opportunities for 500 people.
E D U C A T I O N
Wyatt will increase retention in education for young people by
• supporting flexible and appropriate educational pathways through scholarships
• providing material assistance with the costs of education for young people and their families
• increasing positive engagement of families with their children's education.
By the end of 2016 we will have created increased retention in education for young people with a target of 1,000 young people having achieved schooling beyond year 10.
F I N A N C I A L W E L L B E I N G
Wyatt will increase the ability for individuals and families to meet their financial obligations by
• increasing access to free and confidential financial counselling and debt management services • advocating for appropriate micro credit options, no
interest loans and savings programs
• supporting financial literacy and education initiatives • providing appropriate financial assistance grants,
acknowledging the difficulty of managing on a fixed, low income.
By the end of 2016 we will have assisted 2000 people to confidently manage their household budgets.
H O U S I N G
Wyatt will improve housing options by
• increasing the supply of affordable and appropriate housing
• funding alternative and affordable finance options to gain and maintain appropriate housing
• providing financial support for people transitioning from homelessness to housing
• reducing homelessness via the provision of rental subsidies.
By the end of 2016 we will have provided housing support and housing options for people with a goal of 1000 people able to maintain appropriate and longer-term
O F F E R I N G O P P O R T U N I T I E S
W Y A T T O F F E R S O P P O R T U N I T I E S F O R S O U T H A U S T R A L I A N S E X P E R I E N C I N G P O V E R T Y S O T H E Y C A N L E A D S A T I S F Y I N G A N D P R O D U C T I V E L I V E S A N D P A R T I C I P A T E M O R E A C T I V E L Y I N T H E C O M M U N I T Y .O U R G R A N T S 2 0 1 0 - 2 0 1 1
Affordable Housing $289,000Affordable housing is a basic necessity for individuals and families. Grants for packages of household goods, removal costs, rental subsidy for individuals and families moving into affordable accommodation after homelessness or temporary accommodation. Low cost retirement housing for older people who are at risk of homelessness or living in unsustainable accommodation.
Initiative Fund $1,920,000
Support for new-build rental accommodation for 47 individuals or families through partner housing organisations. Grants for packages of household goods for people housed and supported through the Australian Government’s Nation Building Economic Stimulus Plan Social Housing Initiative. No interest loans for HomeStart approved home buyers.
Education $516,000
Lack of education for individuals is associated with greater social disadvantage and exclusion. Bultawilta Scholarships for Indigenous secondary students from northern and western metropolitan and rural schools. The Smith Family Learning for Life Scholarships for primary and secondary students. Yalari Secondary Boarding Scholarship for an Indigenous student. School re-engagement scholarships through schools in Adelaide and South Eastern South Australia. Colin Oliver Wyatt Music Scholarships (secondary and tertiary). Early Childhood Scholarships for attendance at Children’s Centres at Elizabeth Grove and Hackham West. Early Childhood One-off Grants to support engagement of families in early childhood education.
Employment $426,000
Capacity to participate in employment greatly contributes to quality of life. Scholarships for TAFE fees as a pathway to employment. University Scholarships for Country Students. University Scholarships for Indigenous Students.
Low Income Support $786,000
Surviving on fixed low incomes requires skill and understanding of financial management. Financial Assistance Grants for individuals and families
experiencing domestic financial crisis. Financial support for 6 partner organisations to extend financial counselling services for people experiencing financial crisis. Subsidies for people taking No Interest Loans (NILS®) through partner organisations. Grants and provision of accommodation at Wyatt Victor Harbor Holiday Units for respite for carers and those being cared for.
T H A N K Y O U
To the many social workers, financial counsellors, support workers, student services officers, health workers and other people who are referrers of people in need of financial assistance.
To our Grants Partners - 64 South Australian welfare service organisations, schools, community foundations, education foundations, health service organisations, community support
organisations, affordable housing providers.
Without their positive support and cooperation we would be unable to provide Wyatt programs of financial support. To our commercial colleagues and consultants:
ACH Group
Australian Insurance Brokers Bizology
Community Business Bureau Freehills
KPMG Mac Alert
Macquarie Private Wealth Mellor Olsson
Philanthropy Australia Shadia Design
Tony Scammell BEc, MBA -Chairman A member of the Board since October 2002. He is Asia Pacific Manager of Quality Development for Danone Baby Nutrition and a Director Norseld Pty Ltd and Con Ca Pty Ltd with business experience in manufacturing, research, marketing and finance. His community involvement includes being Treasurer of the State Library of South Australia Foundation and a Director of Mission World Aid.
Rosemary Osman BSc (Hons), Dip Ed, DFP - Deputy Chairperson A member of the Board since October 2002, and Chairperson of the Finance Committee. She was a founder and Director of Accumulus Ltd., a South Australian financial planning company. She has experience in human services in the SA Government, and the Board of the Women’s and Children's Hospital.
Bill Fowler LLB, Grad Cert Bus Admin
A member of the Board since July 2002 and Chairman 2007- 2009. He is currently Manager, Insurance and Secretary, Joint Ventures of Origin Energy Limited. He has served as a Board Member of Novita Children’s Services Inc and an office bearer with KESAB and the Archbishop’s Appeal Committee.
Andrew Davies B Arch (Hons), Grad Dip, FRAIA MAIPM A member of the Board since October 2004. He is a former Managing Director of the Brown Falconer Group Pty Ltd, and is Manager, Building and Property Services, Resthaven Inc. Jon Gregerson LLB A member of the Board since October 2007. He is currently a Consultant to Finlaysons Lawyers having been a partner and the Senior Partner. He has been a Director of the Aged Care Standards and Accreditation Agency Limited and a Council Member of the Neurosurgical Research Foundation Inc. Elizabeth Wilson BSW, AUA (Soc Stud) A member of the Board since October 2009. Over the past 35 years Liz has worked in a range of senior executive positions in the Departments of the Premier and Cabinet, Families and Communities and Education and Children’s Services in the South Australian Government. She is a member of the SA Advisory Committee of Red Cross Australia.
David Minns BEc, F Fin, FCA, FTIA
A member of the Board since December 2009. He is a partner in the Chartered Accounting firm Jaquillard Minns and a founder and Director of SuperGuardian Pty Ltd. He is actively involved in the structuring of his clients' philanthropic activities and is Chairman of the Fay Fuller Foundation, and a board member of the Pembroke Foundation as well as a number of private company boards.
B O A R D M E M B E R S
S T A F F
Chief Executive Elisabeth Gazard BA, B Soc Admin, MA, Grad Dip Mangt, GAICD Grants/Units Coordinator Cheryl Wells Administration Officer Julie Maguire Grants Portfolio Managers Megan Coupland BA (Hons) MA Robin Donaldson BSW Pauline Dundas BSW (retired 4/3/11) Kate Fox BSW Jessica Sutherland BA (Hons) Office Assistant Emma Pelle Accounting Officer Hilary van der Wolff (until 23/6/11) Finance and Administration Manager Lisa Grubb (from 9/6/11) Financial Consultant Brian Lilley B Com, FCA Auditor KPMG Chartered AccountantsDr William Wyatt and Mrs Julia Wyatt travelled from Plymouth, UK arriving in Holdfast Bay, South Australia in February 1837. During his life in Adelaide, Wyatt held a variety of official positions including Colonial Naturalist
1837-1856, JP, Visiting Magistrate and Coroner 1837, Secretary, Medical Board, Royal Adelaide Hospital 1838-1885, Director, Savings Bank of South Australia 1840-1846, Governor, St Peters College 1847-1886, Trustee, Holy Trinity Church 1847-1886, Chief Inspector of Schools 1851-1874, Governor, Botanic Gardens 1857-1878, Governor, Public Library 1862-1868 and Treasurer, RSPCA 1875-1885.
His son, William, the only one of his 5 children to survive childhood, died in 1872 aged 34. Wyatt wrote his Will, naming the first Governors in 1881. He died in June 1886 and the first meeting of the Wyatt Governors was held soon after.
The Wyatt Trust has been carefully managed over the 125 years of its existence, and is now a significant fund, the benefit of which is provided to improve opportunity and quality of life for South Australians who experience financial hardship.
“To create a legacy is to plant a tree under which you will never sit. It is to look past your interests, your homes and your lifetime… To put into motion changes that will be an indelible inspiration to those who follow. “
Christopher J Hegarty in “Cavett Robert: Leaving a Lasting Legacy” by
Cavett Robert and Lee E. Robert. Minneapolis Creative Training Techniques. 1998. “Keeping a Trust: South Australia’s Wyatt Benevolent Institution and its Founder” by Carol Fort (Wakefield Press, 2008) tells the story of the life of William Wyatt and The Wyatt Benevolent Institution Inc.
Y O U R D O N A T I O N W I L L H E L P
Bequests or donations can be accepted by The Wyatt Benevolent Institution Inc. and are tax deductible. Donations can be made direct to the Institution and will be immediately acknowledged. Arrangements for bequests can be made through any recognised Trustee Company or Solicitor.Alternatively, you may wish to contribute to The Wyatt Opportunity Trust, a named fund of The Community Foundation of South Australia. Funds derived from this Trust contribute to the work of Wyatt. The Wyatt Opportunity Trust
The Community Foundation of SA, GPO Box 1338 Adelaide SA 5001 Ph 8207 2074 Fax 8231 9518 www.communityfoundationsa.org.au
W I L L I A M W Y A T T
L S A , M R C S 1 8 0 4 - 1 8 8 6A P O T H E C A R Y A N D S U R G E O N
The Wyatt Benevolent Institution Inc
ABN 57 292 556 081
100 Pirie Street Adelaide SA 5000 Ph 08 8224 0074 Fax 08 8223 5990 [email protected] www.wyatt.org.au
Printed with sustainable forest fibre using a carbon neutral printing process. CCOO22 ssaavviinnggss 225577 kkggss
P A R T N E R S
Aboriginal Family Support Services ac.care
Adelaide Day Centre Anglicare
Brighton Secondary School Catherine House
Centacare Central Domestic Violence Service City of Salisbury
Common Ground Community Support Inc Cowandilla Children's Centre (via Cowandilla B-7) Elder Conservatorium of Music Elizabeth Grove Children’s Centre Eyre Peninsula Community Foundation Fleurieu Community Foundation Foundation Barossa
Foundation for Rural and Regional Renewal Fremont-Elizabeth City High School Hackham West Children’s Centre HomeStart
Independent Learning Centre (Mount Gambier) Independent Learning Centre (Naracoorte) Junction Housing
Ladder
LeFevre High School Life Without Barriers Lutheran Community Care Marryatville High School MIND
Mission Australia
Mount Barker Vocational College Nazareth College
NEAMI
Northern Domestic Violence Service Nunga Mi:Minar
Ocean View College Operation Flinders
Parafield Gardens High School ParaQuad Association ParaWest Vocational College Port Lincoln High School Portway Housing Salisbury High School Seaton High School Second Story
Southern Domestic Violence Service Southern Junction Community Services St Johns Youth Services
Stand Like Stone Foundation SYC
The Smith Family UnitingCare Adelaide East UnitingCareWesley Adelaide UnitingCareWesley Bowden UnitingCareWesley Pt Adelaide UnitingCareWesley Pt Pirie Unity Housing
Valley View Secondary School Windsor Gardens Vocational College Women's Housing Association Woodville High School Yalari
