Governance

Legal Status

The Foundation was established in 1965 and operated under a legal charter authorised by the Attorney General of New South Wales. It is now regulated by the Charitable Fund Raising Act 1991, the Associations Incorporation Act 1984 and the Income Tax Assessment Act 1997. The Foundation has income tax exemption and deductible gift recipient status.

Management

The Governor of New South Wales, currently Her Excellency Professor Marie Bashir AC, is the Patron of the Foundation.

The Foundation is managed by a Board of Directors drawn from business, legal, grazing, parliamentary and education sectors. All directors have links with rural or remote communities. The current directors are:

Clifford R. Cowdroy BA, CT, MACE, AAVAA – Chairman
Cliff has extensive experience in education as Teacher, Principal, Inspector and Director of Schools including Broken Hill & the Far West. He was team leader for restructuring of Distance Education using advanced communication technologies for isolated students. He has been allied to TAFE and community colleges, curriculum planning and performing arts. Cliff is an organist and chorister (RSCM affil.), a fine arts consultant and valuer. He received the inaugural Commonwealth Electorate Community Service Award in 2007. Cliff has been a director of the Foundation since 1995 and Chairman since 2000.

Peter W. Warne FCA, JP – Treasurer
Peter is a chartered accountant and registered tax agent, recently retired from practice on Sydney’s North Shore. He has received a Rotary Community Service Award for his extensive involvement with community organisations such as Old People’s Welfare, the Chamber of Commerce and Meals on Wheels. He joined the Board in 2006.

Malcolm Elmslie BSc, BBus, JP
Malcolm is a grazier on the South Coast of NSW. Previously he was employed in the sugar industry and the Department of Defence. He is a director of the local pre-school, show society and sports ground trust. Malcolm has been a director of the Foundation since 1989.

Hon. Duncan Gay MLC
Duncan is the NSW Leader of The Nationals & Deputy Opposition Leader in the New South Wales Legislative Council.  He is currently Shadow Minister for Roads, Ports and Waterways, having previously held that role for Rural Affairs, Forests, and Mineral Resources. Duncan has a family grazing property in Crookwell, NSW and has been a director of the Foundation since 2003.

Belinda M. Howell BA(Hons), MBA, GAICD
Belinda is a senior executive with Tower Australia and has worked for a number of major companies, including rural financier Rabobank. She owns a beef cattle property on the southern tablelands of NSW and is an active volunteer with LifeLine, among other community organisations. Belinda became a director of the Foundation in 2006.

Douglas C. Stewart LLB
Douglas was born and educated in Kempsey on the mid-north coast of New South Wales. He studied Law and has been a practising solicitor in Sydney for over 40 years. Doug was a Vice President of Rostrum Clubs of NSW for many years and has been a director of the Foundation since 2002.

Mary Whalley
Mary comes from a family of pioneers in the stock and meat industry in Queensland. Following a career in banking, she has had extensive commitment to charitable and church work and has been active in tutoring English to migrants. Mary has been a director of the Foundation since 1989.

Trevor G. Whalley MSc(Hons), MRACI
Trevor is a retired company executive having worked for many years in the sugar industry in North Queensland and then with ICI in Sydney. He has been active in community life as a treasurer of a number of church and charitable organisations. Trevor has been a director of the Foundation since 1987 and Chairman for the period 1989-2000.

Operation

The board meets quarterly to manage the affairs of the Foundation and to assess applications for bursaries.

Bursaries are funded by income from invested capital and donations. The number of students assisted each year is governed by the income available.

Standing sub-committees of the Board have responsibility for developing and implementing the investment strategy for the Foundation’s funds, for handling applications and for promotion.