Macquarie Foundation to award $50 million to community services

The Macquarie Group Foundation is marking its 50th anniversary by committing to award $50 million to five non-profit organisations over a five-year period to fund projects that will have a lasting community benefit.

The Foundation said that this new global award seeks to initiate or build on bold ideas that address an area of social need, and encourages applicants to be imaginative in their thinking about the enduring outcomes they can achieve with the funding.

 

https://twitter.com/Macquarie/status/1055715592081211392

 

The award will be shared by five organisations globally, each receiving $10 million, with funding to be delivered over a period of five years.

 

To be eligible for the award, organisations must:

 

• Be a registered non-profit within the applicable country and have audited financial statements and a board of directors
• Have a current annual operating budget of a minimum of $4 million
• Be able to provide evidence or data to support the expected outcomes of their proposed project (either the organisation’s own data if a project is already underway, or research done elsewhere if a new project is proposed)
• Deliver the proposed project within five years upon receipt of funds or demonstrate a strong ongoing sustainability model following the five-year funding period. Funds will be released according to an agreed project timeline.

 

The Macquarie Group Foundation is the philanthropic arm of Macquarie Group, a global diversified financial group. The Foundation provides support to hundreds of community organisations globally each year through financial support, volunteering and skills sharing.

 

In a statement on its website, the Foundation said “Supporting the communities in which we live and work has been an important part of Macquarie’s activities since our inception in 1969. In that time, our people have devoted thousands of hours to work with non-profit organisations around the world and contributed more than $330 million to drive social change at the local community level.”

 

“We are delighted to mark our 50th anniversary by extending this tradition with a further $50 million commitment,” the statement said.

 

Applications for the award are now open and will close at 5pm on Friday 16 November 2018. For more information, visit the Macquarie Group Foundation award website.