Philanthropy - Presbyterian Ladies' College, Perth...Mr Carlo Franchina (Treasurer) BComm, CA, FTIA Foundation Board member since 2015 Partner in charge of Corporate Tax, KPMG and

2018 PHILANTHROPY REPORT 1

Philanthropy REPORT 2018

Mr Ian Macliver (Chair) BComm, FCA, SF Fin, FAICD

Chair of Foundation since 2016 Foundation member since 2011

Managing Director, Grange Consulting Board member of Board Member of Western Areas Ltd (Chairman), Otto Energy Ltd, Cockatoo Iron NL.

Mrs Cathy Donaldson (Secretary) BJuris and LLB (UWA)

Secretary, Foundation Board Foundation member since 2013

Legal Officer, Legal Practice Board

Mr Carlo Franchina (Treasurer)BComm, CA, FTIA

Foundation Board member since 2015

Partner in charge of Corporate Tax, KPMG and member of the PLC Foundation Incorporated Board.

Mr Yasmin BroughtonBComm, PG Dip Law, GAICD


Non-executive Director Synergy Non-executive Director Resolute Mining Limited Non-executive Director Insurance Commission of Western Australia Non-executive Director Edge Employment Solutions Inc.

Mr Tony GristFoundation Board member since 2016

Founder and Principal, Albion Capital Partners Founding Partner, Vocus Upstart Director, The Minderoo Foundation Member of the Judging Panel, EY’s Entrepreneur of the Year

Mrs Kristin KestelBEng(Hons)


Brewing and Hospitality Business Owner

Mr James MactierBAgrEc, GradDipAppFin, GAICD


UWA Business School Ambassadorial Council (WA Chapter) Australian Prospectors and Miners Hall of Fame Foundation Member, PLC Council Chairman, Regis Resources Ltd Member, Resource Capital Funds Managing Partner’s Advisory Board

Mr Andrew McKenzieBEcon, FINSIA, FAICD


Executive Chairman of Euroz Limited and Euroz Securities, Executive Director of Westoz Funds Management, Entrust Private Wealth Management, Prodigy Investment Partners, Flinders Investment Partners, Dalton Street Capital and is a Board member of the Stockbrokers Association of Australia (SAA) and the PLC Foundation, as well as a PLC Council member.Member (Master Stockbroking) of the Stockbrokers Association of Australia and was previously an Associate of the Financial Services Institute of Australasia (FINSIA) and the Australian Institute of Company Directors (AICD).

PLC Foundation Board members


ContentsA lifelong enrichment ................................................. 04

Giving report ................................................................06

Summers Society .........................................................08

Bequests .......................................................................09

Dr Margaret Henderson OBE ...........................09

Scholarship students ................................................... 10

Mieka Garbutt Year 7 ........................................... 10

Olivia Elliot Year 7 .................................................. 10

Shelby Heidrich Year 8 ........................................ 10

Taleisha Hurford Year 8 ........................................ 11

Emma Wilkinson Year 8 ........................................ 11

Bryzlyn Sin Year 9 ................................................... 11

Sioni Zankharia Year 10 ........................................ 12

Cassidy Emmott Year 11 ........................................ 12

Claudia Tedjasaputra Year 11 ............................. 12

Halimah Zaini Year 12 .......................................... 13

Donors ......................................................................... 14

The PLC Foundation Inc. Financial Statements .........16

Statement of Comprehensive Income ............ 16

Statement of Financial Position ......................... 17

Statement of Cash Flows ..................................... 18

Statement of Changes in Equity ........................ 19

Notes to the Financial Statements ................... 20

Statement by Members of the Board ............ 26

Fund Movements (unaudited) .......................... 27

Old Collegian, Scholarship recipient and Foundation donor, Dr Sue-Anne Wallace reflects on the work of the PLC Foundation.

Established in 1985, the PLC Foundation aims to provide long-term support to the school and its students. In March 2011 the Summers Society, honouring the memory of Dr Vera Summers, Principal of PLC from 1934 to 1961, was established. Its purpose is to recognise donors who have given $100,000 or more and bequests, following the initiative taken by Dr Summers in leaving a gift in her will.

The members of this Society are generous philanthropists and we thank them warmly for their leading gifts. PLC’s other supportive donors include Old Girls, their families, and the current parent community. I turned to Philanthropy Australia for their definition: ‘Philanthropy is the planned and structured giving of time, information, goods and services, influence and voice as well as funds to improve the wellbeing of humanity and the community.’ Such planned giving may be through a Private Ancillary Fund, a family foundation or trust. Many individuals make significant donations without administration through a formal structure. And some just give spontaneously when asked.

The not-for-profit sector, which includes PLC, depends on philanthropy. Recent data shows that 80% of Australians or almost 15 million people gave $12.5 billion to charities and not-for-profits in 2015-2016 – an average donation of $764 (the median donation

was $200). Over the past ten years, fewer people are donating to various charitable and not-for-profit organisations but their gifts are larger.

Research has shown that those who give, whether through formal structures or informal more ad hoc processes, find the experience worthwhile, often described as providing a sense of joy, pleasure and achievement.

It is estimated that 43% of adult Australians gave their time to various causes, volunteering for almost 1,000 million hours in 2016, that is 134 hours in a year or 2.5 hours per week. Half of those who do not give have said that knowing more about how their money is spent would encourage their giving.

When we make a donation to PLC we know where our money is going – to the tax deductible Building or Scholarship Funds or to other initiatives through Annual Giving programs. Not all of us are able to give $100,000. Yet our smaller gifts can also have a measurable impact for both the school and for the donor.

I recently was delighted to support the Scholarship Fund. The PLC Foundation ran a campaign to increase scholarship support in 2017. It was incredibly successful, raising $500,000 in three months. The Scholarship Fund provides opportunities for girls who would otherwise be unable to be part of the PLC community. How good is that? I’ve been sent reports about ‘my’ student and I am encouraged to read about her progress and her enjoyment of the opportunity to

A lifelong enrichment


attend ‘our School’. I live in Sydney so I have little opportunity to meet this student but for Perth residents, the relationship could become more personal.

When I was at PLC – from 1950 to 1963 – there were also scholarships available when girls reached secondary school, on the other side of View Street! I had two scholarships (perhaps more, given the passage of time it’s hard to remember) which were awarded on academic merit to cover part of the term’s fees. My memory may be incorrect but I think the scholarship provided a £10 reduction to term fees. How times have changed! It was possible to be awarded a scholarship in successive years, if one had studied hard and achieved the right results. I know that such

support was greatly appreciated by my parents and I was very honoured to be a scholarship recipient.

I’m sure that the recipients of our current PLC Foundation Scholarships, awarded with more of a social justice intent, are extraordinarily proud of their achievement in holding a scholarship. These girls enrich the PLC community and allow the school to support the educational opportunities for a much broader spectrum of students.

Dr Sue-Anne Wallace AM was a grant maker for visual arts and craft with the Australia Council (1996-1999), CEO of Fundraising Institute Australia (2004-2009) and Executive Officer of the Vincent Fairfax Family Foundation (2009-2012).

Dr Sue-Anne Wallace

Giving report2018 ANNUAL GIVING

The 2018 Annual Giving Programme raised $98,360, comprising $74,555 to The PLC Scholarship Fund and $23,805 to The Foundation Building Fund.

2017 SCHOLARSHIPS FUNDRAISING CAMPAIGN

At the end of 2017 the PLC Foundation launched the 2017 Scholarships Fundraising Campaign. The PLC community was asked to make a difference to students who for could otherwise not be able to afford the amazing experience of studying at PLC. The Campaign proposed that:

The response from the PLC community was amazing! In four months the Campaign raised $516,500! This allowed five students to commence studies at PLC in 2018.

DONATION TO THE PLC SCHOLARSHIP FUND

At the end of 2018, two extraordinary families from our PLC community contacted the Principal to advise that they wished to provide a scholarship to pay the tuition fees for a day girl from Year 7 through to graduation. They would like the scholarship to be given to a girl whose family, due to financial constraint, could not otherwise send their daughter to PLC. They would like the recipient to be academically sound and also have the temperament to benefit from everything the school has to offer.

Combined, these two families have had five daughters study at PLC; both of their youngest daughters will be graduating this year. They felt they would like to do something to signify their gratitude to the School. It has been their experience that girls get the best out of PLC if they (and their parents) try to participate in all of the academic and non-academic programmes on offer. For this reason they would like the recipient to be someone who would benefit from everything that PLC has to offer.

The families pledged $136,349 over the next five years.

A donation of $500 a year for six years, from just 100 families, can help us reach our goal.


ANNUAL GIVING 2013 - 2018

Scholarships Building Total Donors

The Summers Society has been established to encourage PLC alumni and supporters of the School to continue the tradition of philanthropy that began with a bequest from Dr Vera Summers. The Society provides an opportunity to recognise those who contribute to the long-term future of PLC. Members have opportunity to experience the difference their support makes to the students of the School and to witness life at PLC.

Members of the Summers Society receive a membership pin, are invited to attend School functions and cultural and musical events; and meet with the Principal and Chair of Council a couple of times a year to learn news of PLC.

MEMBERS 2018

Ms Robyn Ahern Mrs Margaret H Atkins OAM Lady Jean Brodie- Hall AM Mrs K Burton and Mr Craig Burton Hon June M Craig AM Barbara Finch Mrs Michelle Grist and Mr Tony Grist Wendy Hillman * Dr Patricia Kailis AM OBE Mrs Rosalind Lilley & Mr Richard Lilley Mrs Cate McKenzie and Mr Andrew McKenzie Mr Ian & Mrs Jayne Middlemas Mrs Denise and Mr Malcolm Murray Mrs Mimi Packer & Mr Willy Packer Mrs Jennifer H Rankin * Mr Peter Rose Mrs Helen Shilkin-Reinhold Mr Ian & Mrs Susan Trahar Dr Simon & Mrs Alison Turner Ms Angela R Vincent Ms Judith R Vincent Mr Glenn Whiddon & Mrs Jane Whiddon (2 families wish to remain anonymous)

* Wendy Hillman representative Verna Rowbotham Bequest.

* Jenny Rankin representative Barbara Beard Bequest

Summers Society members (intention of Bequest)

SUMMERS SOCIETY

Summers Society


BequestsDR MARGARET HENDERSON OBE

Margaret Henderson was our 1932 Head Prefect. She graduated from the University of Melbourne with a Bachelor of Medicine in 1938, then joined the staff of the Royal Melbourne Hospital (RMH). During the war Dr Henderson continued her work at RMH as Resident Medical Officer and served with the civilian forces, at the rank of Captain. Throughout, she continued her studies and graduated as a Doctor of Medicine in 1941.

At the end of the war Margaret joined the Red Cross as Senior Medical Officer in Malaya, carrying out vital work in fighting tropical diseases in outlying villages. She then worked in England and Europe, obtaining fellowship of the Royal College of Physicians for her work in respiratory and thoracic medicine. Dr Henderson returned to Melbourne where, in 1976, she was made an Officer of The Order of the British Empire (Civil, Imperial) for her services to medicine.

Dr Henderson was tremendously generous with her time, encyclopaedic knowledge and immense compassion. She was also unstintingly benevolent. PLC is fortunate to have shared that benevolence with Baptcare, Janet Clarke Hall (University of Melbourne), Royal District Nursing Service Foundation, Royal Melbourne Hospital Research Foundation, Medecins Sans Frontieres, and her family.

During PLC’s 2015 Centenary our Old Collegians’ Association recognised Dr Henderson’s extraordinary accomplishments. We are all proud of her accomplishments and she will always remain one of our truly Inspiring Women.


MIEKA GARBUTT YEAR 7

My first week at PLC was hectic, exciting, confusing and fun because I am in a brand new place, with different routines, a LOT of stairs. I have had to learn how to catch public transport on my own. I have made plenty of friends and I am now studying French, something I have always wanted to learn.

This semester I am lucky enough to learn the Oboe, my co-curricular activities for Term 1 are PaperBots, which includes coding, mechanics and 3-D printing and Art Club.

OLIVIA ELLIOTT YEAR 7

My start at PLC has been amazing! I have lost my way a lots of times, however, the older students were there to help me get to my classes. All the

teachers have been so nice and kind to me, giving me guidance and chatting to me.

The School has given me a flute to practice and I am learning how to blow into it. After school I am participating in Robotics Club where we are learning coding. I love drama and dance and hope I can do these next term. I love all my teachers.

SHELBY HEIDRICH YEAR 8

My start to the year has been amazing, I have adapted well and quickly to my new Year 8 classes and with all the new girls this year. My favourite teacher would possibly be Mr Cooper and Ms Plastow.

This year I am participating in Boxing and Fitness in the Lighthouse and outside of school I am doing Contemporary and Acro Dance at Silhouette and am continuing my horse riding at the Perth Royal Show grounds.

Scholarship students


TALEISHA HURFORD YEAR 8

My start to School this year has been better than last year. This year I am more organised. Last year I did not really enjoy Science and Visual Arts, but this year they are my favourite. This year I am enjoying school better; maybe it is because I know my way around and I have learnt a lot by my mistakes last year.

My Co-curricular activities this term are Scholars Cup and IGSSA Swimming.

JEMMA WARREN YEAR 8

Year 8 at PLC has got off to a good start with a great Humanities teacher (Ms Kelleher), and I am really looking forward to making a jumper in Textiles, as well as learning Jazz in Dance.

My Term 1 co-curricular activities are: Contemporary dance, Dance Collective (subject to audition) Art Club, Surf Lifesaving- Nippers, Viola Lessons and PLC String Orchestra.

EMMA WILKINSON YEAR 8

I thought that settling in to all of my classes would be difficult, but it was actually so much easier than I had an anticipated because there were so many supportive people including all the teachers.

I attend swimming training every morning over at Scotch from 6.30 am to 7.30 am; and I have recently joined the Storm netball team.

BRYZLYN SIN YEAR 9

I achieved my 2019 goal of obtaining my Service Leadership Silver Badge (including 60 hours of gift wrapping for the Leukaemia foundation, weeding with Conservation Volunteers and ushering at Woodman Point).

My co-curricular for 2019: Weekly commitment to: Environmental Committee, Duke of Edinburgh, Pastiche, Piano Trio Rehearsal and study session in the Library. Piano lessons Gifted and Talented training twice a week. Competing in the UN Voice Nationals Public Speaking Competition in April.

STUDENT NAME WITHHELD YEAR 10

2019 has been a great year so far. It is amazing to see my friends again! Although we have been introduced to many exams and tests already this year, all my subjects are so fun and it is impressive that the teachers are so talented that they can make lessons entertaining.

I enjoy having three electives instead of two each term. This term I am participating in running and swimming training. I am also a member of the IGSSA swimming and volleyball teams. In my spare time I enjoy playing the piano for fun.

SIONI ZANKHARIA YEAR 10

The start to my year has been really good. I am enjoying the subjects I am taking, in particular Science. Science hasn’t always been my favourite subject but I am really enjoying it so far.

This year I am part of Chorale and am still learning the trumpet. I had put my name down for cricket but then realised that it runs on the same day as chorale so unfortunately I am unable to do IGSSA sports this term.

CASSIDY EMMOTT YEAR 11

The start of the year is always so busy, but I am so excited Boarding has begun and that I am studying six of my favourite subjects with such good teachers.

I have not signed up for any Co-curricular this term because I like the first term to settle back into Boarding, but I have been using the Lighthouse gym regularly with friends as my form of sport. Last term I was rowing, and I volunteered for Sportslink at the Lighthouse.

CLAUDIA TEDJASAPUTRA YEAR 11

I am so happy to have the opportunity to do IB and choose all the subjects I love studying.

I am involved in the following Co-curricular: Public speaking, PLC Strings Orchestra, Chamber Strings, Chorale, running and helping at homework help.


HALIMAH ZAINI YEAR 12

My start to the year has been as busy as I expected, I am an official Year 12 now and Academic Captain! I have found my rhythm and am excited to reap in the rewards of not only my effort but my teachers’ efforts in the coming terms.

My Co-curricular activities: Stage Band, Wind Ensemble, Trumpet Lessons, IGSSA Volleyball and Lions Youth of The Year Competition.

PLC Foundation Scholarship Class of 2018 student update

SONYA FROSSINE will be commencing a Bachelor of Arts ( Japanese and Creative Writing) at Curtin University. Sonya was awarded a Principal’s Recommendation Scholarship.

CLAIRE WRAY will be commencing Bachelor of Secondary Education (hoping to be a Media Teacher). Claire was also awarded a Principal’s Recommendation Scholarship.

ENYA ZANKHARIA will be commencing a Bachelor of Commerce at UWA.

DonorsRobyn Ahern (SS)

Albion Foundation Pty Ltd

Scott and Nicole Anderson (P)

John and Sandra Andrew (Phillips 1991) (FP)

Allyn and Rachel Argent (Dall 1995) (P)

Michael and Hilary Armstrong (P)

Margaret Atkins (Cusack 1947) (SS)

Adrian and Annie Atkins (P)

Tomas Baddeley and Catherine Wood (P)

Paul Bailey and Serena Sia (P)

Andrew and Rebecca Banks (P)

Matthew and Samantha Barnett (P)

Kieran and Michelle Barrett (Wandel 1994) (P)

Amy Beeck (P)

Charles and Liz Bolt (Pethick 1984) (P)

Esmé Bowen (Irving 1949) (FP)

Ric and Renee Bowers (P)

William and Kim Breidahl (FP)

Jean Brodie-Hall (Slatyer 1942) (SS)

Geoffrey and Janette Brown (FP)

Katrina and Craig Burton (Fairweather 1982) (SS)

Ben Campbell-Wilson and Sarah Rankin (1987) (P)

Gary and Candice Castledine (P)

Sophie Paul Chamberlain (P)

Craig and Jamie Chan (P)

Sam and Karen (P)

Jacqui Chellew (2002) (P)

Dong Chen and Shirley Wang (P)

Gao Chen and Wenny Zhou (P)

Antonio and Paula Cinanni (Holmes 1992) (P)

Ernest and Joanna Cooley (P)

Kempton Cowan (P)

June Craig (Lynn 1947) (SS)

Noreen Craig (Beatty 1939) (FP)

Joanne Cruickshank (1977) (FP)

Lare and Lizzy Daramola (P)

Jason and Ann Davies (P)

Robert and Louise Daw (Craig 1998) (P)

Elizabeth De Marte (P)

Christopher and Jenelle Dodds (P)

Dale and Alexandra Douglas (P)

Jerome Douziech and Emmanuelle Lacassagne (P)

Todd and Eliza Dowling (P)

Royce and Kylie Dowling (P)

Nicholas and Melinda Draper (P)

Beth Duncan (1946) (FP)

Graeme and Jacqui Dunn (P)

Paul and Stephanie Early (P)

Alexander and Prue Egan (P)

Toby and Peta Ellis (P)

Christopher and Tia Ellison (P)

Josef El-Raghy and Tracey Shepherd (P)

Michael and Katrina Evans (P)

Kenneth and Paula Everett (P)

Peter and Gillian Fairweather (P)

Leigh and Jackie Ferguson (P)

Beverley Fitzgerald (Bird 1954) (FP)

David and Sarah Flanagan (P)

Carlo Franchina (P)

Stuart and Melissa Fraser (P)

Bradley Fry and Lee Jasson(1989) (P)

Tianyu and Jun Gao (P)

Peter and Zana Gawan-Taylor (P)

Matthew and Ruth George (P)

Anthony and Rosemarie Gianotti (P)

Russell and Tamara Gibbs (P)

Melissa Gillett and Vicki Edwards (P)

Andrea Gillett (1980) (FP)

Geoffrey Gishubi and Jennifer Grove (1989) (P)

Angus and Justine Goody (P)

Helen Green (Novakov 1961) (FP)

Annie Gregg (Cooke 1953) (FP)

Philip and Catherine Grey (P)

John and Ami Grono (P)

Kate Hadwen (PLC staff)

Michael and Anne Hales (P)

Adam Hamersley (P)

Jill Hannink (Brownson 1958) (FP)

Jennifer Hassell (Mayrhofer 1955) (FP)

Andrew Hawley (P)

Troy and Kristy Hayden (P)

Bradley and Simone Haynes (P)

Mark and Jemma Hector (P)

Simon and Anna Hellings (P)

Michael Hender (P)

Jeffrey and Kay Holloway (P)

Tracey Horton (Chair, PLC Council)

Scott and Fiona Houston (P)

Peter and Henny Hung (P)

Mark and Carolyn Hyde (P)

Mary Igglesden (Cameron 1947) (FP)

International Purveyors Inc

Jonathon and Candie Italiano (P)

John and Jane Jenkins (P)

Roland and Kathy Johnston (P)

Susan Jones (P)

Patricia Kailis (SS)

Russell and Catherine Kane (P)

David and Sheree Kelly (P)

Lucinda Kerr (Webb 1992) (FP)

Damian and Kristin Kestel (P)

Tim and Naomi Kestell (P)

Jonathan and Helen Keys (Venerys 1983) (P)

Jane and Riaz Khan (P)

Bradley and Meg Kitcher (P)

Adalbert and Caroline Koth (P)

Christian and Malaika Kuhlmann (P)

Prasad and Priyanthi Kumarasinghe (P)

Anne Kyle ( Jago 1948) (FP)

Andrew and Annette Langdon (P)

Waimeng Lao amd Infan Ip (P)

Julie Larkin (Sedgman 1951) (FP)

Stephen and Janine Lauder (P)

Tibby (Baron-Hay 1949) (FP)


Geoffrey and Anne Marie Lewis (P)

Matt and Bonnie Liddelow (P)

Abbie Liew (Lim 1980) (FP)

Rosalind Lilley (McClelland 1961) (SS)

Gen Qiang Liu and Yang Cao (P)

Richard and Jo Lively (P)

Freda Livingston (Bunce 1949) (FP)

Douglas Love (1949) FP

Michael and Sarah Lovegrove (1989) (P)

Beverley Ludlow (Harrison 1956) (FP)

Owen and Megan Luxton (Terrell 1988) (P)

Ross and Kristen Lyon (P)

Cathryn Mackie (Budd 1963) (FP)

Ian and Chantal Macliver (FP)

Ann Macliver (Bird 1952) (FP)

James and Cate Mactier (P)

Charles and Rachel Malet (P)

Brenda Mazzucchelli (Sloane 1957) (FP)

David and Margie McAuliffe (Livingston 1985) (P)

Jane McGillvray (1994) (FP)

Douglas and Vanessa McGinniss (Stewart 1989) (P)

Scott and Sal McGregor (Legge 1985) (P)

Monica McInnes (2002) (FP)

Cameron and Alice McIntosh (P)

Andrew and Cate McKenzie (England 1986) (P)

Bruce and Sally McLarty (P)

Simon and Gillian Michael (P)

Luke and Jane Miels (Cox 1984) (P)

Adam and Kasia Miethke (P)

Peter and Alexis Miklavs (P)

Angus and Fiona Miller (Argyle 1986) (P)

Lindsay Mollison (FP)

David and Jody Morton (P)

Jill Mowson (Harrison 1949) (FP)

Jan Muggleton (Fuller 1968) (FP)

Geoffrey and Jacqueline Muir (P)

Trevor Nairn (FP)

Junhui Niu and Anna Zheng (P)

Gary and Fiona Norwood (P)

Kerry and Rowena Osling (Smith 1984) (P)

Paul and Fiona Ostergaard (P)

Willy and Mimi Packer (Clough 1982) (SS)

Alexii and Elena Paino (P)

Esme Park (Sutherland 1946) (FP)

James and Mary-Alice Paton (P)

Patrick amd Kellie Pearcey (P)

Suzanne Pelczar (PLC staff)

John and Felicity Petersen (P)

John Philpott (P)

Nicholas and Claire Poll (P)

Mark Popplewell and Rowan Maclean (1983) (P)

Michael and Alison Purves (P)

David and Liz Quinlivan (P)

Robert and Alison Quinlivan (P)

Jennifer Rankin (SS)

Graham and Margaret Reynolds (FP)

Peter and Tobey Robinson (P)

Ruth Roden (P)

Stephen and Michelle Rogers (P)

Paul and Sally Rossen (Field 1980) (FP)

Andrew and Shirley Ryan (P)

Hosi and Donna Sabavala (P)

Derek and Sue Sanderson (P)

Sarah Basden Foundation

Benjamin and Nina Scherini (Peake 1985) (P)

Bernard and Julia Schortinghuis (Osborne 1989) (P)

Robert and Liz Scott (P)

Matthew and Lisa Seaburne-May (P)

Glenice Shephard (FP)

Aris and Kristina Siafarikas (P)

Andrew and Helene Siegmund (P)

Timothy Silbert and Fiona Hogg (1984) (P)

Wilkie and Bel Sin (P)

Alison Sloper (Thomas 1960) (FP)

Peter Smith and Alexandrea Thompson (1988) (P)

Jeffrey and Sarah Smith (P)

Margaret Stamper (Monger 1947) (P)

Tiffany Sutherland (Camac 1994) (P)

The Constantine Family Foundation

Katherine and Ken Tovich (P)

Sam and Merrilee van Dongen (P)

Richard and Elizabeth Vaughan (Overton 1962) (FP)

W. Fairweather & Son Pty Ltd

Ylva Wakefield (P)

Peter and Tanya Wall (P)

Sue-Anne Wallace (1963) (FP)

Gary and Karina Walter (P)

Neil and Rebecca Warburton (P)

Andrew and Vicki Weatherall (P)

Thelma Webster (Fisher 1947)

Andrew and Kathy Woolgar (P)

George Zalitis (FP)

Liang and Xiaohui Zhao (P)

3 Donors which to remain anonymous

P Current Parent

SS Summers Society

FP Friends of PLC

The PLC Foundation Incorporated Financial StatementsFOR THE YEAR ENDED 31 DECEMBER 2018

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2018

OPERATING ACTIVITIES 2018 2017INCOME Note $ $Donations 2(a) 1,207,583 1,077,428Other income 2(b) 599,922 601,142Total Operating Income 1,807,505 1,678,570

EXPENDITUREOther expenses 444,234 409,705Total Operating Expenditure 444,234 409,705TOTAL SURPLUS 1,363,271 1,268,865

OTHER COMPREHENSIVE INCOMENet increase/(decrease) in market value 7 (521,998) 423,060TOTAL OTHER COMPREHENSIVE INCOME (521,998) 423,060

Total Comprehensive Income for the period 841,273 1,691,925

The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes


STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018

ASSETS 2018 2017CURRENT ASSETS Note $ $Cash and cash equivalents 4 8,017,716 7,201,211Loan to PLC 5 1,300,000 1,300,000Trade and other receivables 6 122,498 84,133Total Current Assets 9,440,214 8,585,344

NON-CURRENT ASSETSFinancial instruments at fair value through other comprehensive income 7 5,510,554 5,524,151

Total Non-current Assets 5,510,554 5,524,151

TOTAL ASSETS 14,950,768 14,109,495

LIABILITIESCURRENT LIABILITIES - -NON-CURRENT LIABILITIES - -

TOTAL LIABILITIES - -NET ASSETS 14,950,768 14,109,495

EQUITYAccumulated funds 8 13,848,291 12,485,020Investment revaluation reserve 8 1,102,477 1,624,475

TOTAL EQUITY 14,950,768 14,109,495

The above Statement of Financial Position should be read in conjunction with the accompanying notes

STATEMENT OF CASH FLOWS AS AT 31 DECEMBER 2018

2018 2017CASH FLOWS FROM OPERATING ACTIVITIES Note $ $Donations and bequests 1,001,710 1,060,108Other receipts 362,434 409,488Payments to suppliers (444,234) (409,705)Interest received 222,203 195,500Net cash provided by operating activities 10 1,142,113 1,255,391

CASH FLOWS FROM INVESTING ACTIVITIESLoan to PLC (1,300,000) (1,300,000)Repayment of loans by PLC 1,300,000 -Payment for investments (325,608) (321,601)Net cash used in investing activities (325,608) (1,621,601)

Net increase/(decrease) in cash held 816,505 (366,210)Cash at the beginning of the financial year 7,201,211 7,567,421Cash at the end of the financial year 4 8,017,716 7,201,211

The above Statement of Cash Flows should be read in conjunction with the accompanying notes


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2018

ACCUMULATED FUNDS

ASSET REVALUATION

RESERVETOTAL

$ $ $BALANCE OF EQUITY AS AT 1 JANUARY 2018 12,485,020 1,624,475 14.109,495Surplus for the period 1,363,271 - 1,363,271Other comprehensive income/(loss) - (521,998) (521,998)BALANCE OF EQUITY AS AT 31 DECEMBER 2018 13,848,291 1,102,477 14,950,768

BALANCE OF EQUITY AS AT 1 JANUARY 2017 11,216,155 1,201,415 12,417,570Surplus for the period 1,268,865 - 1,268,865Other comprehensive income/(loss) - 423,060 423,060BALANCE OF EQUITY AS AT 31 DECEMBER 2017 12,485,020 1,624,475 14,109,495

The above Statement of Changes in Equity should be read in conjunction with the accompanying notes

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Preparation

This financial report is a special purpose financial report prepared for use by the Board and members of The PLC Foundation Incorporated. The accounting policies used in the preparation of this report as presented below are, in the opinion of the Board, appropriate.

This financial report has been prepared in accordance with the financial reporting requirement of the Associations Incorporation Act of Western Australia, the constitution of The PLC Foundation Incorporated and the Australian Charities and Not-for-profits Commission Act 2012. The requirements of Accounting Standards issued by the Australian Accounting Standards Board and other professional reporting requirements do not have mandatory applicability to The PLC Foundation Incorporated because it is not a reporting entity. However, the Board has determined that in order for the financial report to present fairly the Foundation’s financial position and performance, the requirements of Accounting Standards relating to the recognition, measurement and classification of assets, liabilities, revenues, expenses and equity should be complied with.

Accordingly, the financial report has been prepared in accordance with the recognition, measurement and classification requirements of Australian Accounting Standards and the disclosure requirements of Accounting Standards AASB 101 “Presentation of Financial Statements”, AASB 107 “Cash Flow Statements”, AASB 108 “Accounting Policies, Changes in Accounting Estimates and Errors”, AASB 1031 “Materiality”, “AASB 1048 “Interpretation of Standards” and AASB 1054 “Australian Additional Disclosures”.

The financial report has been prepared on an accruals basis and is based on historical costs except for financial assets which are stated at fair value. The financial report is presented in Australian dollars.

Statement of Compliance

The financial report complies with the recognition, measurement and classification requirements of Australian Accounting Standard, which include Australian equivalents to International Financial Reporting Standards (AIFRS), and the disclosure requirements of Accounting Standards AASB 101 “Presentation of Financial Statements”, AASB 107 “Cash Flow Statements”, AASB 108 “Accounting Policies, Changes in Accounting Estimates and Errors”, AASB 1031 “Materiality”, “AASB 1048 “Interpretation of Standards” and AASB 1054 “Australian Additional Disclosures”.

Compliance with AIFRS to the extent required by non-reporting entities does not result in the special purpose financial report comprising the financial statements and notes thereto, complying with IFRS because IFRS do not exclude non-reporting entities from the scope of its standards. However, this special purpose financial report does comply with the measurement requirements of IFRS.


In the current year the Foundation has adopted all of the new and revised Standards and Interpretations

issued by the Australian Accounting Standards Board (the AASB), except those relating to disclosure, that are relevant to its operations and effective for annual reporting periods beginning 1 January 2018.

Certain Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet effective have not been adopted for the annual reporting period ended 31 December 2018. The Board has not yet fully assessed the impact of these new or amended standards and interpretations to the extent relevant to the Foundation.

The following significant policies have been adopted in preparation and presentation of the financial report.

Accounting Policies

a) Income Tax

The Foundation is exempt from income tax under subdivision 50-B of the Income Tax Assessment Act 1997 and payroll tax under s.40 of the Pay-roll Tax Assessment Act 2002.

b) Cash and Cash Equivalents

Cash and cash equivalents include deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.

c) Revenue

Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to financial assets.

Dividends are recognised when the Foundation’s right to receive the payment is established. All revenue is stated net of the amount for goods and services tax (GST). Donations are recognised upon receipt of funds.

d) Goods and Services Tax

Revenue, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expense

Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to, the ATO is included as a current asset or liability in the balance sheet.

Cash flows are included in the statement of cash flows on a gross basis. The GST components of

cash flows arising from investing and financing activities which are recoverable from, or payable to the ATO are classified as operating cash flows.

e) Financial assets designated at fair value through other comprehensive income (“OCI”)

Upon initial recognition, the Foundation may elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity under AASB 132 Financial Instruments: Presentation and are not held for trading. The classification is determined on an instrument-by-instrument basis.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognised as other income in the statement of comprehensive income when the right of payment has been established, except when the Foundation benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment.

The Foundation elected to classify irrevocably its listed equity investments under this category.

f) Trade and other Payables

Trade and other payables are carried at amortised costs and represent liabilities for goods and services provided to the Foundation prior to the end of the financial year that are unpaid and arise when the Foundation becomes obligated to make future payments in respect of the purchase of goods and services


2. INCOME 2018 2017$ $

(a) Donations and bequests- Building Fund 75,697 128,242- Scholarship Fund 295,513 348,968- Bequests 186,893 -- Acceptance fees– 649,480 600,218Total Donations 1,207,583 1,077,428

(b) Other income- Interest received and receivable 225,960 196,127- Distribution from investments 330,431 373,594- Investment income declared but not received 43,531 31,421Total Other Income 599,922 601,142

3. AUDITORS’ REMUNERATION

Auditing the financial report 1,500 2,871

4. CASH AND CASH EQUIVALENTS

Cash at bank 8,017,716 7,201,211

Cash at bank earns interest at floating rates based on daily bank deposit rates

5. LOAN RECEIVABLE

Loan to Presbyterian Ladies’ College 1,300,000 1,300,000

On 28 June 2018, The Foundation (Lender) provided an extension of the unsecured working capital loan facility of up to $3,500,000 to Presbyterian Ladies’ College which can be drawn down at a minimum of $25,000 to a maximum of the facility amount until 31 December 2019 (termination date). During the year, the College repaid the amount owing and subsequently re-drew $1,300,000 which is repayable at the election of the College, on any date up to and including the termination date. Interest is calculated using the Bank Bill Swap Bid Rate (BBSY) for the relevant drawdown period plus 1%. Any extension of the loan may be granted at the sole discretion of the Foundation.

6. TRADE AND OTHER RECEIVABLES 2018 2017

$ $Interest receivable 4,384 627Investment income declared not paid 43,531 31,421Other 74,583 52,085

122,498 84,133

7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

Financial instruments at fair value through other comprehensive income. 5,510,554 5,524,151

The above investments are stated at the closing market price at the balance date.

A reconciliation of movements in available-for-sale investments is as follows:

Value of investments at 1 January 5,524,151 4,779,490Investments purchased 325,608 321,601Shares bequeathed 182,793 -Net increase/(decrease) in market value (521,998) 423,060

5,510,554 5,524,151

8. EQUITY

Movements in equity were as follows:

ACCUMULATED FUNDSBalance at 1 January 12,485,020 11,216,155Surplus for the year 1,363,271 1,268,865Balance at 31 December 13,848,291 12,485,020

INVESTMENT REVALUATION RESERVEBalance at 1 January 1,624,475 1,201,415Gain/(loss) on revaluation (521,998) 423,060Investments disposed - - Balance at 31 December 1,102,477 1,624,475


9. CAPITAL COMMITMENTS 2018 2017$ $

There were no capital commitments at the end of the financial year. - -

10. CASH FLOW INFORMATION

Reconciliation of Cash Flow from Operations with Net Surplus from Ordinary Activities

Net surplus from ordinary activities 1,363,271 1,268,865Less: Bequeathed ordinary shares (182,793) -Changes in Assets and Liabilities(Increase)/Decrease in Trade and Other ReceivablesCash flows from operations 1,142,113 1,255,391

11. ECONOMIC DEPENDANCY

A significant portion of revenue is obtained from Presbyterian Ladies’ College which is a related party.

12. EMPLOYEE ENTITLEMENTS

There are no employee entitlements as at 31 December 2018.

13. EVENTS OCCURING AFTER BALANCE DATE

The loan to PLC was repaid in full by 22 January 2019.

The Board is not aware of any significant events occurring after balance date which may affect either the Foundation’s operations, the results of those operations or the Foundation’s state of affairs.

14. CONTINGENT LIABILITIES

The Board is not aware of any material contingent liabilities or any further obligations which may arise due to special circumstances or events.

STATEMENT BY MEMBERS OF THE BOARD

In accordance with a resolution of the Board of The PLC Foundation Incorporated, we state that in the opinion of the Board:

a) The Foundation is not a reporting entity as defined in the Australian Accounting Standards;

b) The financial statements and notes of the Foundation are in accordance with the Australian Charities and Not-for-Profits Commission Act 2012, including:

(i) Giving a true and fair view of the Foundation’s financial position as at 31 December 2018 and of its performance for the year ended on that date; and

(ii) Complying with Australian Accounting Standards to the extent described in Note 1 to the financial statements and complying with the Australian Charities and Not-for-Profits Commission Regulation 2013;

c) There are reasonable grounds to believe that the Foundation will be able to pay its debts as and when they become due and payable.

Signed at Peppermint Grove for and on behalf of the Board by:

Ian Mcliver, Chair PLC Foundation and Carlo Franchina, Treasurer PLC Foundation Signed 27th day of March 2019


FUND NAME BALANCE 31.12.2017

INCOME TOTAL RECEIPTS

2018

EXPENDITURE TOTAL EXPENDITURE

2018

BALANCE 31.12.2018

CAPITAL INTRODUCED

2018

INTEREST &

DIVIDENDS

BURSARIES/

SCHOLOSHIPS

APPROPRIATED

TO PLC

OTHER

EXPENSES

$ $ $ $ $ $ $ $

Estate of the late V A Summers 976,792 - 50,164 50,164 - - - - 1,026,956

Estate of the late J M Randall 292,474 - 15,020 15,020 - - - - 307,494

Estate of the late Verna Rowbotham 158,901 4,100 4,179 8,279 - - - - 167,180

Estate of the late JPB Summers 819,722 - 21,284 21,284 - - - - 841,006

T H Rose Scholarship Fund 257,163 - 6,677 6,677 - - - - 263,840

Estate of the late Hilary Skitch 208,838 - 10,725 10,725 (44) - - (44) 219,563

Cheam Scholarship Fund 6,946 - 181 181 - - - - 7,171

The PLC Foundation Building Fund 1,408,274 75,697 39,225 114,922 - - 5,338 5,338 1,517,858

The PLC Foundation Scholarship Fund 533,038 295,513 13,479 308,992 322,579 - 798 323,377 518,653

Estate of the late Margaret Henderson - 182,793 3,879 186,672 - - - - 186,672

Endowment Fund 7,822,872 649,480 435,108 1,084,588 - - 115,562 115,563 8,791,898

TOTAL ALL FUNDS 12,485,020 1,207,362 599,921 1,807,504 322,535 - 121,698 444,233 13,848,291

FUND MOVEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 (UNAUDITED)

PRESBYTERIAN LADIES’ COLLEGEA COLLEGE OF THE UNITING CHURCH IN AUSTRALIA

14 MCNEIL STREET, PEPPERMINT GROVE WESTERN AUSTRALIA 6011TEL (08) 9424 6444 | PLC.WA.EDU.AU

CRICOS Provider Code 00447B

Documents

Philanthropy - Presbyterian Ladies' College, Perth...Mr Carlo Franchina (Treasurer) BComm, CA, FTIA Foundation Board member since 2015 Partner in charge of Corporate Tax, KPMG and