future2 foundation annual review 2013

the Foundation of the AustralianFinancial Planning Association

Helping to build a brighter future for those most in need

Annual Review 2013

Financial planners giving back to the communities from which they draw their livelihoods.

Why we are here

Future2 exists to make a lasting difference in the lives of those who need it most, giving disadvantaged young people a second chance

and hope for a better future.

What we do

Future2 reaches out to financial planning professionals who have the passion, commitment and social

conscience to help disadvantaged youth realise their potential. Individually and collectively, financial

planners raise funds, identify not-for-profits that are deserving of grants and give their time and

skills to help kids at risk into productive, secure and fulfilling lives.

How we do it

Each year Future2 Make the Difference! Grants are awarded to grassroots

not-for-profits and charities working to give a new start in life to young people who are

doing it tough. Every grant application has the support of a local financial planner.

Future2 is a charitable foundation with deductible gift recipient (DGR) status.

1

Chair’s report2013 was another year of solid progress.

• Fundraising was up on the previous year – though still a considerable challenge. The annual Future2 Wheel Classic attracted high participation from cyclists keen to take on a life challenge in a good cause and total fundraising from this single event was over $140,000;

• The total value of our grants rose to $60,000. As in every successive year, the number and quality of grant applications rose;

• Engagement with the fi nancial planning community continued to build, though we are conscious of a long road before we can claim to embody our vision to be the heart of the profession.

Underlying these achievements was a growing sense among trustees that our strategy to build

alignments with a range of professional and industry associations was not yielding the results we had

hoped for. In February 2013 trustees came to the conclusion that a stronger alignment exclusively

with the Financial Planning Association, the preeminent professional association for fi nancial planners

in Australia, would off er greater potential for engagement and growth.

In May, the boards of Future2 and the FPA signed a two year Memorandum of Understanding to “work together for the betterment of the

Australian community and the enhancement of professionalism among fi nancial planners in Australia”. The FPA played a very important role in

the establishment, administration and management of Future2 in its formative years and my fellow trustees and I look forward to building on that

sound foundation.

2

To express the renewed association and connection between Future2 and the FPA, Future2

changed its tagline to ‘the foundation of the Australian Financial Planning Association’.

Future2 is now the sole identifi ed charity for the FPA and its members. Three positions on

the Future2 board will be fi lled by nominees of the FPA.

Together, Future2 and the FPA have set a target to increase the annual grants to $100,000 by

2015, recognizing the need to build capital accumulation and increase fundraising to achieve this objective.

We welcomed three new Future2 ambassadors during the year, recognizing their commitment to furthering Future2’s vision to be the heart of the

fi nancial planning profession. They are David Haintz in Melbourne VIC, Fabian Ross in Perth WA and Andrew Zietara in Brisbane QLD. David retired

as a trustee in February 2013 and we salute his enormous contribution to Future2 from its earliest days. Our thanks go also to Dominic Alafaci and

Hazel Ruby for their contributions as Future2 ambassadors; both retired during the year.

Steven HelmichChair


3

Building a

Stronger CommunityFuture2 awarded seven grants totaling $60,000 in the 2012 Make

the Diff erence! Grant round. Five were grants of $10,000 to fi rst-time

Future2 grant recipients. Two further grants of $5,000 each were given

to enable the expansion of exceptional programs already part-funded

by Future2. By 30 June 2013, Future2 had made grants totaling

$261,000 to 26 community not-for-profi ts around Australia.

Each year the task facing the Grants Committee and, ultimately, the

trustees, gets more challenging as the number of applications increases

and they demonstrably fulfi ll Future2’s objective to give young people

a second chance for a better future. The fi nal selection of 2012 grants,

out of 42 applications, gave consideration both to the potential of the

project to touch positively the lives of disadvantaged young people

and of the impact that our grant might have on its development and

successful execution.

Recognising the value of sustained support for projects that are well-

managed and highly eff ective, in early 2013 trustees agreed to commit

$10,000 on top of the $50,000 awarded to new grant recipients in

November 2012.

4

BackTrack Youth Works

Armidale, NSW www.backtrack.org.au $10,000 grant for BackTrack AgLads, an education and employment program Supported by: Matthew Meehan, AGBIS Pty Ltd

BackTrack AgLads provides training and work experience in

agriculture to the most at-risk youths in the Armidale community.

Students between the ages of 13 and 24 are enrolled in a Cert II

qualifi cation in Rural Operations and work side by side with local

farmers, gaining experience in shearing, lamb marking, fencing and

hay making. As well as giving vital help to disadvantaged youth, the

program addresses the local skills shortage of rural workers.

Matt Meehan supported the BackTrack grant application. A local

fi nancial planner with AGBIS Financial Planning, he sees the benefi t

of BackTrack fi rsthand. “Many of our farmers fi nd it diffi cult to fi nd

skilled rural workers. We can see that BackTrack off ers a win-win in

addressing the needs of at-risk youth and farmers”, Matt says. The

Future2 grant will give access to the program to 20 more young

people in 2013, contributing to the cost of transporting the students

to farms and for protective clothing and footwear.

BackTrack Youth Works supports 55 young people; of these the

majority is indigenous or from single parent households; nearly half

have answered to a charge in court, and a signifi cant minority have

$10,000 grant for BackTrack AgLads, an education and employment program

agriculture to the most at-risk youths in the Armidale community.

Students between the ages of 13 and 24 are enrolled in a Cert II

qualifi cation in Rural Operations and work side by side with local

farmers, gaining experience in shearing, lamb marking, fencing and

hay making. As well as giving vital help to disadvantaged youth, the

Matt Meehan supported the BackTrack grant application. A local

fi nancial planner with AGBIS Financial Planning, he sees the benefi t

of BackTrack fi rsthand. “Many of our farmers fi nd it diffi cult to fi nd been incarcerated. Most are disengaged from mainstream educational

programs and have little connection to the community.

“The requests from young people and their families to be involved in BackTrack programs come from far and wide and at times there are simply not enough resources available to support every young person in need. … This year two indigenous young men – both AgLads - have been employed by CSIRO as full time trainees.” Bernie Shakeshaft, program manager

5

Bridge Builders Ltd Youth Organisation

Lilydale, VIC www.bridgebuilders.com.au $10,000 grant for Bridging the Gap, a leadership and engagement program Supported by: David Dyson CFP®, Financial Life Balance

Located in a low socio-economic area, Bridge Builders regularly

sees young people of 15-25 years disengaged from projects and

programs due to fi nancial barriers. The organisation bridges this

gap and empowers the young people through a 34-week leadership

program that is designed and delivered by young people. It is built

around the framework of 40 developmental assets necessary to the

development and healthy living of a young person. Weekly education

sessions, a leadership camp and day excursions combine to build

skills and confi dence.

Each participant creates and implements a community-based project

designed to give back to the local community. The young people see

fi rst-hand the value of being a contributor and grow both personally

and emotionally. Local business professionals share their expertise

and mentor the young leaders.

Local fi nancial planner David Dyson CFP, one of many dedicated

volunteers who are passionate about helping young people realise

their talents and capabilities, assists with fi nancial education within

the leadership program.

“Budgeting and goal setting are invaluable skills for young leaders and this is a natural and obvious way in which I can make a contribution to the lives of the these young people who are so vital to the community’s wellbeing”, David says.

6

Byron Bay Community Association

Byron Bay, NSW www.byroncentre.com.au$5,000 top-up grant for the Community Table Café: creating employment through mentoring Supported by Paul Murphy, AdvicePlus Financial Solutions

The additional grant was made for the continuation of a

pilot project set up in 2011. It involves the utilisation of the

Community Table Café to mentor disadvantaged youth in

presentation, punctuality, customer service and complaint

handling while also providing valuable work experience. The

Community Table Café in a busy hub for locals and also caters for

events at the theatre and workshops at the Byron Community

Centre. The grant will enable a nominated Community Table

Café staff member to gain a barista trainers’ certificate so that the

Café may issue barista certificates to young trainees.

Byron Bay Community Association general manager Paul

Spooner responded to the news of the $5,000 grant with the

message: “This is such awesome news! Thank you so much for

having faith in the project, it has been great to be involved with

the Foundation and look forward to continuing the relationship.”

Baptist Union of QLD Community Services Group

Nikenbah, QLD www.glendyne.qld.edu.au $5,000 for the Glendyne Learning Support Program Supported by Shane Bradbury, Professional Investment Services

The additional grant is for the development of the mentoring and learning

support program at Glendyne Education & Training Centre. Many of the

young people at the Centre are severely disengaged and have not attended

school for extended periods of time, sometimes years. As a result, low

levels of literacy and numeracy require an intensive program of individual

daily tutoring to equip them with the skills needed to complete any

meaningful education and/or VET qualifications by the end of Year 12. The

results achieved in the first four months confirmed the overwhelming need

for individual tutoring, showing increases in diagnostic testing of up to

40%. Specially selected learning-support tutors

are also mentors to encourage, guide and

provide the skills necessary for the

students to become actively

re-engaged in education.

7

Save the Children Australia

East Melbourne, VIC www.savethechildren.org.au $10,000 grant for Transition from Detention at Cobham Juvenile Justice Centre NSW, a program for at-risk youth Supported by: Anne Graham CFP®, McPhail HLG Financial Planning

Transition from Detention is a 12-month diversionary youth justice

program that seeks to break the destructive pattern of reoff ending.

It is aimed at young boys aged 15 to 18 who are in detention at the

Cobham Juvenile Justice Centre west of Sydney, the largest juvenile

justice detention centre in the Southern hemisphere. Young people

who end up in detention have most often experienced signifi cant

disadvantage in their lives: 27% were placed in care as a child, only

38% attended school and 87% suff ered a mental illness.

While still in the Centre, vulnerable young men will be helped to get

their lives back on track so they can positively transition back into the

community following their release from detention. Two qualifi ed and

experienced youth workers provide essential life skills for up to 90

boys over 12 months. They learn how to solve problems, make better

decisions, manage anger and develop positive relationships, as well

as more practical issues such as nutrition, personal hygiene, eff ective

budgeting and paying bills. The Future2 funding contributed

to program activity costs, allowing the delivery of life skills and

mentoring sessions for 12 months.

Anne Graham, the fi nancial planner who supported the grant application,

believes in the potential to making a lasting impact in the lives of these

young people.

“An important part of the program is to keep them on track to achieve their release plans. Positive and supportive contact with adults is essential to this.”

8

Southern Youth & Family Services Association

Wollongong, NSW www.syfs.org.au $10,000 grant for New Education, Training, Work Opportunities Resource (NETWORK), an engagement program Supported by: Ray Griffi n, Baiocchi Griffi n Private Wealth Pty Ltd

SYFS’s program aims to support 16 to 24 year olds who are homeless

or similarly disadvantaged, have left school early and are ill equipped

to compete in the employment market. These young people often

need alternative pathways to education, help to re-engage with

mainstream education, support to stabilise their living situations, and

help to develop routines and social and living skills.

The NETWORK program engages the young participants with

mentors to help them overcome personal and structural barriers

to fi nding work. They are guided in developing career goals and a

learning plan and helped to access support systems. They have the

opportunity to explore their interests and establish goals through

exposure to diff erent types of employment.

Ray Griffi n of Baiocchi Griffi n Private Wealth and a trustee of Future2

Foundation, has endorsed this project and is committed to seeing its

success.

“SYFS recently won the 2012 National Homelessness Services Award for excellence in supporting pathways to employment or education. This area of their work is currently mostly self-funded by SYFS through fundraising activities and donations. The Future2 grant will provide invaluable support.”

9

Youth Opportunities Association

Somerton Park, SA www.youthopportunities.com.au $10,000 grant for Personal Leadership, a program to encourage leadership and engagement Supported by: Adrian Zoppa CFP, Hood Sweeney Pty Ltd

For many young people, even those with support systems in

place, the transition to adulthood is complex and diffi cult. They

can struggle to maintain focus and often fi nd themselves shut off

from positive relationships. The Personal Leadership Program (PLP)

facilitates this transition for young disadvantaged students in Year 10,

a critical time in their schooling.

Each program targets 18 students who want to develop themselves

and improve their futures. One day each week during term, the

students meet outside school for a series of activities that are crucial

for life, guided by positive thinking and personal responsibility.

Students are taught a new way of thinking and given the skills and

motivation to achieve their goals.

Adrian Zoppa CFP®, a fi nancial planner with Hood Sweeney, believes

the impact of the program reaches far beyond the young people

who take part, but indirectly benefi ts families, friends and the wider

community. “The result is improved relationships and a better

sense of family connection, less anti-social behaviour and greater

participation in the local community”, he said.

“Before the Youth Opportunities’ program… I wasn’t motivated to go to school or do my work…but after the program I haven’t wagged a day or even a lesson and I have improved so much at school. I now know anything is possible for me in the future and I can achieve anything I set my mind to.”

- A PLP graduate

10

Future2 Make the Difference!

Grants 2007-2012Recipient Project Supporting Financial Planner Grant Value

2007

Access Mildura

Mildura, VIC

New retail training facility to expand employment for disabled and

under-privileged youth in Sunraysia.

Stephen Wait CFP®

FPA Sunraysia Chapter

$10,000

Anglicare at the Magdalen Centre

Adelaide, SA

Nile United Youth Group: project to assist young Sudanese refugees

to integrate into Australian life while retaining their cultural values

and links.

Kerrin Falconer CFP®

FPA SA Chapter

$10,000

SearchLight

Brisbane, QLD

Future2 Financial Success - project to develop the financial and life

skills of young mothers alienated from their families and mainstream

education.

Delma Newton CFP®

FPA Brisbane Chapter

$10,000

2008

Loddon Murray Community Leadership

VIC

Youth leadership development program for north central Victorian

rural communities.

John Daniel

FPA member and LMCLP Board Director

$10,000

Youth Information & Referral Service

Mackay, QLD

Young drivers support program to help socially excluded young people

in Mackay and district gain their drivers licenses and a better chance

of work.

Matthew Stevens & Josh Eisemann

FPA Mackay & District Chapter

$5,000

Anglicare at the Magdalene Centre

Adelaide, SA

Nile United Group and the Young Sudanese Women’s Network - follow

up grant to support development of NUYG and a new program for

young women.


FPA SA Chapter

$15,000

Whitelion

Melbourne, VIC

Mentoring program for young offenders and those at risk of custody. David Haintz CFP® $10,000

11

Recipient Project Supporting Financial Planner Grant Value

2009

Police and Community Youth Clubs

Orange, NSW

Music program to give disadvantaged young people their first hands-

on experience of playing a musical instrument and the opportunity of

a music scholarship.

Peter Roan CFP®

FPA Western Division Chapter

$10,000

Time for Kids

Adelaide, SA

Financial Wizards project, to help young parents (16-25 years) of

children in respite care and family support to set up household

budgets and develop financial goals.


FPA SA Chapter

$10,000

Youth Off the Streets

Mascot, NSW

Scholarship program to assist 14-21 year olds to reach their full

potential, achieve vocational goals and realise their capabilities.

Scot Andrews and Guy Thornycroft

FPA Sydney Chapter

$10,000

2010

Australian Children’s Music Foundation

North Sydney, NSW

Funding music teachers in the Frank Baxter and ACMENA centres in

NSW, enabling emotionally troubled young people to experience the

positive and creative impact of making music.

John Tutt

FPA Sydney Chapter member

$10,000

Family Resource & Network Support (FRANS)

Croydon, NSW

Financial literacy program offering up to 20 intellectually and

physically disabled 18-24 year olds the opportunity to develop money

skills essential to independent living.

Guy Thornycroft

FPA Sydney Chapter

$10,000

Mission Australia’s Charcoal Lane

Melbourne, VIC

A social enterprise offering work experience, training and support to

Aboriginal and disadvantaged young people in a top end restaurant.

Julian Place CFP®

FPA Melbourne Chapter

$15,000

Galilee

Canberra, ACT

Galilee’s LIFT program for young mothers living in refuges was

expanded to include a Young Woman’s Craft Group, providing

hands-on training in small business management, literacy and

numeracy skills.

Philip Basche

FPA ACT Chapter and Galilee Director

$6,000

Friedrich Ataxia Research Association

Gold Coast, QLD

A joint AFA Foundation - Future2 grant to fund the purchase of two

custom-built wheelchairs for young sisters with Friedrich Ataxia, an

incurable degenerative disease.

Tony Lindley

AFA Member

$5,000

Future2 Grant

$5,000 AFA

Foundation Grant

12


2011

Australian Children’s Music Foundation

North Sydney, NSW

Funding music teachers in the Frank Baxter and ACMENA centres in

NSW, enabling emotionally troubled young people to experience the

positive and creative impact of making music.

John Tutt

FPA Sydney Chapter member

$5,000

Baptist Union of Queensland Community

Services Group

Nikenbah, QLD

The Glendyne mentoring and youth development program builds

respect and trust between young people from dysfunctional and

disadvantaged backgrounds and their teachers and elders.

Shane Bradbury

AFA Member

$10,000

Blue Mountains Disability Services

NSW

The Mountain Gardens Landscape business was established to provide

training and employment to marginalised youth. A new project,

Stepping Stones, aimed to link volunteers with the young trainees and

enable up to four of them to enrol in Certificate III Horticulture.

Peter Rheinberger

AFA Member

$10,000

(Grant not

awarded due to

failed project)

Byron Community Association Inc

Byron Bay, NSW

The Byron Community Cafe offers mentoring and work experience to

young people seeking to get onto the employment ladder in a region

where youth employment is 10% above the national average.

Paul Murphy

FPA Member

$10,000

Family & Resource Network Support (FRANS)

Croydon, NSW

Financial literacy program offering up to 20 intellectually and

physically disabled 18-24 year olds the opportunity to develop money

skills essential to independent living.

Guy Thornycroft

FPA Sydney Chapter

$5,000

Live Free Tassie

Ellendale, TAS

A financial and life skills training and mentoring program delivered

by local financial planners to young addicts at a residential treatment

centre, aimed at breaking the cycle of welfare dependence.

Andrew Glover

FPA Member

$15,000

13

Total Grants:

$261,000


2012

BackTrack Youth Works

Armidale, NSW

BackTrack AgLads provides training and work experience in agriculture

to the most at-risk youths in the Armidale community.

Matthew Meehan

FPA Member

$10,000

Baptist Union of Queensland Community

Services Group

Nikenbah, QLD

The Glendyne mentoring and youth development program builds

respect and trust between young people from dysfunctional and

disadvantaged backgrounds and their teachers and elders.

Shane Bradbury

AFA Member

$5,000

Bridge Builders Ltd Youth Organisation

Lilydale, VIC

Bridging the Gap, a leadership and engagement program for Year 10

students.

David Dyson CFP®

FPA Member

$10,000

Byron Bay Community Association Inc

Byron Bay, NSW

The Byron Community Cafe off ers mentoring and work experience to

young people seeking to get onto the employment ladder in a region

where youth employment is 10% above the national average.

Paul Murphy

FPA Member

$5,000

Save the Children Australia

East Melbourne, VIC

Transition from Detention, a 12-moth diversionary youth justice

program seeking to break the destructive pattern of 15-18 year old

boys in detention at the Cobham Juvenile Justice Centre.

Anne Graham CFP®

FPA Member

$10,000

Southern Youth & Family Services Association

Wollongong, NSW

New Education, Training, Work Opportunities Resource (NETWORK),

and engagement program for 16-24 year olds who are homeless or

disadvantaged and unable to complete in the employment market.

Ray Griffi n

FPA Member

$10,000

Youth Opportunities Association

Somerton Park, SA

Personal Leadership Program, to encourage leadership and

engagement among disadvantaged young people in Year 10 who are

transitioning to adulthood.

Adrian Zoppa CFP®

FPA Member

$10,000

Telling storiesFuture2 was delighted to hear in mid 2013 of the inclusion of two Future2 grant recipients’ stories in the Australian Charity Storybook, due for launch in November 2013. The Byron Community Centre and FRANS - Family Resource and Network Support – both submitted entries at the suggestion of Future2. The book, published by the Not For Profi t Foundation is a collection of selected stories and achievements from 30 people, each assisted by a charity or not-for-profi t organisation. Find out more at www.nfpfoundation.org.au.

14

Individual effort and personal commitment

make the difference

15

Future2 Wheel Classic 2012

It was another busy year of fundraising, crowned by a hugely successful third annual Future2 Wheel Classic, a 1250 km cycle ride from Sydney to Melbourne. The event accounted for over $141,000 of the year’s total fundraising of $274,000, including around $41,000 in corporate sponsorship from AMP Financial Planning (Gold Partner) and Matrix Planning Solutions (Silver Partner).

The big shift in fundraising during the year was towards sponsorship of individuals who

participated in challenge events – notably the Wheel Classic. Of the $141,000 raised by

the 2012 AMP Future2 Wheel Classic, $100,000 was through the eff orts of the cyclists. Each

one set up a personal fundraising page on Everyday Hero and sought support from friends,

family and colleagues; some created their own fundraising events to boost total donations.

Nearly 40 cyclists participated in the Wheel Classic, 16 of them for the whole 9-day route

and the rest for anything up to 8 days. It was a phenomenal eff ort of muscle and willpower,

from cyclists who covered the spectrum from daily commuters to work (with little training)

to elite amateur athletes.

16

Building the professional ethic at AMP Horizons

During the year four successive intakes of students at AMP Horizons

raised funds for Future2 that were matched by the AMP Foundation.

The creative energies of the provisional fi nancial planners at AMP

Horizons delivered a series of evening events that attracted good

crowds with generous wallets.

Total fundraising during the fi nancial year from these events was

over $32,000. Future2 is very grateful to the students, and to the AMP

executives who continue to manifest their belief in the importance

of professionals giving back to the community from which they draw

their livelihoods.

Countrywide fundraisers backed by financial planners

Around the country, fi nancial planners continued to support Future2

at professional development events and licensee conferences. Notable

among these were the fundraising and profi le building opportunities

at the Godfrey Pembroke annual conference in Queenstown NZ, the

Matrix Planning Solutions conference in Sydney, Pathways Licensee

professional development days in Brisbane, Sydney and Melbourne,

and the AMP Financial Planning conference in Brisbane.

Social gatherings within the fi nancial planning community also

provided fertile ground to tell the Future2 story and to raise funds.

The 2012 Bulls & Bears Ball in Adelaide, now a fi xture in the Rotary

Club and FPA SA Chapter calendar, resulted in a $6,000 donation. The

Future2 committee in WA organized another successful Melbourne

Cup Luncheon, raising $11,900.

17

awards2012 BEST PRACTICE

FPA members support their profession’s foundation

For a second year, FPA members were invited to make a $20 donation to Future2

when renewing their membership for the 2013 year, resulting in funds of over

$19,000. Trustees extend their warm thanks to those FPA members who chose to

support Future2 as their profession’s charitable foundation, making a diff erence to

young people in need around Australia.

Aside from ongoing support in kind with fi nancial management and member communications, the FPA made a generous $30,000 donation

arising from the FPA Leadership Series of lunches in state capitals during October and November 2012.

Future2 Community Service Best Practice Award

We were delighted to join the FPA in recognizing Mark O’Leary CFP® of Eluvia in Melbourne as national winner of the 2012 Future2

Community Service Best Practice Award. The state award winners in the category were:

• NSW: Anthony Tanti CFP®, Tanti Financial Services, Emu Plains

• QLD : Stephen Lowry CFP®, Alman Partners, Mackay

• VIC: Mark O’Leary CFP®, Eluvia, Melbourne

For more about the FPA Best Practice Awards. visit www.fpa.asn.au/awards.

18

Host Event Date Activity Funds Raised

Financial Planning Association

(FPA)

2013 membership renewal donations July 2012 - Donations $19,155

Godfrey Pembroke Annual conference in Queenstown, NZ 15-17 July 2012 Plenary presentation by Philip Basche $4,100

FPA FPA Leadership Series lunches, Melbourne,

Perth, Sydney, Brisbane, Adelaide

Aug-Sept 2012 Future2 presence $30,000

Future2 Peter Bobbin seminars in Canberra and

Bendigo

Sept 2012 Adviser and client seminars $6,000 sponsorship

$4,100 registrations

FPA Melbourne Chapter AFL Grand Final Lunch 24 Sept 2012 Raffle, auction, video of Future2 Wheel Classic $5,800

Pathway Licensee Services Professional development days in Brisbane,

Sydney and Melbourne

Nov 2012 Future2 presentations -

Future2 Western Australia WA Melbourne Cup Luncheon 2 Nov 2012 Fundraising Luncheon $11,900

FPA Advanced Technical Workshops and Award

presentations

28 Nov 2012 Presentation of Future2 grant cheques to VIC

recipients

-

FPA Advanced Technical Workshops and Award

presentations

12 Dec 2012 Presentation of Future2 grant cheques to NSW

recipients

-

AMP Financial Planning Annual Conference in Brisbane 17-19 Jan 2013 Future2 plenary; exhibition stand $1,600

AMP Horizons - intake 20 Future2 fundraising, Waverton Bowling Club 31 Jan 2013 Bowling, raffle -

FPA Ballarat Chapter Golf Day Feb 2013 Raffle $403

AMP Horizons - intake 21 Future2 fundraising - salsa night 18 April 2013 Raffle $3,100 plus matching funds

Matrix Planning Solutions Annual Conference in Sydney 22-23 April 2013 Future2 presentation $4,300

FPA - Rotary Club of Adelaide Bulls & Bears Ball June 2013 Social event and fundraising $6,000

2012-13 profile building and fundraising events

During the year, Future2 welcomed the opportunity to speak, exhibit and raise funds at industry and professional events. We warmly thank the

following for their valued support.

19

Income 2013$

2012$

Donations 180,104 170,280

Activities income

- Auction bids 1,600 1,000

- Raffles 1,870 6,548

- Registrations 63,688 66,396

Sponsorship income 22,000 36,000

Other income 4,635 1,740

Total Income 273,897 281,964

Expenses 2013$

2012$

Administration fees 3,976 1,925

Catering/Venue hire 36,333 33,637

Commission/Fees 7,487 3,881

Equipment expense 0 1,541

Events & registrations 308 4,180

Insurance 4,230 4,435

Legal & accounting 1,432 1,287

Marketing & printing 16,469 34,328

Merchandise 4,960 1,794

Merchant fees 875 875

Other 1,175 159

Employment expenses 63,368 52,500

Stamp duty 196 369

Telephone 458 922

Travel & entertainment 7,687 7,666

Web design & management 13,324 9,022

Total expenses 162,278 158,521

Operating Profit 2013$

2012$

111,619 123,443

Other income 2013$

2012$

Interest income 12,267 7,750

Proceeds from bushfire appeal 0 0

Total other income 12,267 7,750

Other expenses 2013$

2012$

Interest expense 0 1,166

Grants 45,000 42,500

Total other expenses 45,000 43,666

Net surplus 2013$

2012$

78,886 87,527

Financial StatementsAnalysis of Income and Expenditure (for the year ended 30 June 2013) Future2 A.B.N. 43 090 835 227

20

Current Assets Notes 2013$

2012$

Cash and cash equivalents 3 418,701 320,149

Trade and other receivables 4 6,572 41,082

TOTAL CURRENT ASSETS 425,273 361,231

Balance Sheetfor the year ended 30 June 2013

Other Assets Notes 2013$

2012$

Prepayments 9,835 0

TOTAL OTHER ASSETS 9,835 0

TOTAL ASSETS 435,108 361,231

Current Liabilities Notes 2013$

2012$

Trade and other payables 5 0 4,010

TOTAL CURRENT LIABILITIES 0 4,010

TOTAL LIABILITIES 0 4,010

NET ASSETS 435,108 357,221

Equity Notes 2013$

2012$

Founder Commitment 0 1,000

Retained Earnings 435,108 356,221

TOTAL EQUITY 435,108 357,221

21

Notes to the Financial StatementsFor the year ended 30 June 2013

Note 1: Statement of Significant Accounting Policies

The directors of the trustee company have prepared the financial

statements of the trust on the basis that the trust is a non-reporting

entity because there are no users dependent on general purpose

financial statements. The financial statements are therefore special

purpose financial statements that have been prepared in order to meet

the needs of unit holders.

The financial statements have been prepared in accordance with the

significant accounting policies disclosed below, which the directors

have determined are appropriate to meet the needs of members. Such

accounting policies are consistent with the previous period unless

stated otherwise.

The financial statements have been prepared on an accruals basis and

are based on historical costs unless otherwise stated in the notes. The

accounting policies that have been adopted in the preparation of the

statements are as follows:

(a) Cash

Cash includes cash on hand and at banks including at call deposits with banks.

(b) Revenue

Donations and bequests are recognised as revenue when received

unless they are designated for a specific purpose, where they are

carried forward as prepaid income on the balance sheet.

Interest revenue is recognised on a proportional basis taking into

account the interest rates applicable to the financial assets.

Revenue from the rendering of services is recognised upon the delivery

of the service to the customers.

All revenue is stated net of the amount of goods and services tax (GST).

(c) Goods and Services Tax (GST)

Revenues, 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. 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 in the Balance Sheet are

shown inclusive of GST.

22

Notes to the Financial StatementsFor the year ended 30 June 2013

NOTE 2: REVENUE 2013$

2012$

- Donations and sponsorship received 273,897 281,964

- Interest income 12,267 7,750

286,164 289,714

NOTE 3: CASH AND CASH EQUIVALENTS 2013$

2012$

Cash at bank 192,481 104,647

Short term bank deposit 226,220 215,502

418,701 320,149

NOTE 4: TRADE AND OTHER RECEIVABLES 2013$

2012$

CURRENT

Sundry debtors and receivables 6,572 41,082

6,572 41,082

NOTE 6: RETAINED EARNINGS 2013$

2012$

Opening balance of retained earnings 356,221 268,694

Add: Current year surplus 78,887 87,527

Closing balance of Retained Earnings 435,108 356,221

NOTE 5: TRADE AND OTHER PAYABLES 2013$

2012$

CURRENT

Unsecured Liabilities

Total GST Liabilities 0 4,010

0 4,010

DIRECTORS’ DECLARATION OF TRUSTEE COMPANY

The directors of the trustee company declare that the trust is not a reporting

entity and that this special purpose financial report should be prepared in

accordance with the accounting policies outlined in Note 1 to the financial

statements.

The directors of the trustee company, Future2 Foundation Limited declare that:

1. the financial statements and notes, as set out on pages 1 – 4 present fairly

the trust’s financial position as at 30 June 2013 and of the performance for

the financial year ended on that date of the trust in accordance with the

accounting policies outlined in Note 1 to the financial statements;

2. in the directors’ opinion there are reasonable grounds to believe that

the trust will be able to pay its debts as and when they become due and

payable.

This declaration is made in accordance with a resolution of the Board of

Directors of the trustee company.

P. Bobbin, Director S. Helmich, Director

Sydney, 1 October 2013

23

Independent Audit Report to the Trustees of Future2Report on the Financial Report

We have audited the accompanying fi nancial report of Future2 Foundation Limited, which comprises the balance sheet as at 30 June 2013 and the income statement, statement of recognised income and expenditure and cash fl ow statement for the year ended on that date, a summary of signifi cant accounting policies and other explanatory notes and the directors’ declaration.

Directors’ Responsibility for the Financial ReportThe directors of the company are responsible for the preparation and fair presentation of the fi nancial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the fi nancial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s ResponsibilityOur responsibility is to express an opinion on the fi nancial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the fi nancial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the fi nancial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the eff ectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the fi nancial report.

The fi nancial report has been prepared for distribution to members for the purpose of fulfi lling the directors’ fi nancial reporting requirements under the Corporations Act 2001. We disclaim any assumption of responsibility for any reliance on this report or on the fi nancial report to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.

We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.

IndependenceIn conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confi rm that the independence declaration required by the Corporations Act 2001, provided to the directors of Future2 Foundation Limited on 20 September, 2013 would be in the same terms if provided at the date of our audit opinion.

Audit OpinionIn our opinion, the fi nancial statements present fairly, in all material respects, the fi nancial position of Future2 Foundation Limited as at 30 June 2013 and its fi nancial performance and cash fl ows for the year ended in accordance with the Corporations Act 2001 and the Australian Accounting Standards (including Australian Accounting Interpretations) to the extent described in Note 1.

Basis of Accounting and Restriction on Distribution and UseWithout modifying our opinion, we draw attention to Note 1 to the fi nancial report, which describes the basis of accounting. The fi nancial report has been prepared for the purpose of fulfi lling the directors’ fi nancial reporting responsibilities under the Corporations Act 2001. As a result, the fi nancial report may not be suitable for another purpose.

MITCHELL & PARTNERS

Glenn MerchantPartner

Signed in Sydney this 11th day of October 2013.

24

Office Holders

Patron Mrs Gwen Fletcher AM

Gwen Fletcher was awarded the Member (AM) in the General Division of the Queen’s Birthday Honours in 2007 in recognition of her immense contribution to financial planning. She is Future2’s inaugural patron.

Ambassadors Vicky Ampoulos Commonwealth Financial Planning (NSW)

Kevin Bailey CFP® Shadforth Financial Group (VIC)

Philip Basche CFP® Godfrey Pembroke Ltd (ACT & NSW)

Paul Brady CFP® Brady & Associates Financial Services (NSW)

Sarah Brennan Brennan Partners (NSW)

Corinna Dieters Seaview Consulting; Chair of the Future2 Grants Committee (VIC)

Kerrin Falconer CFP® formerly PWM Advisor Services (SA)

David Haintz CFP® Shadforth Financial Group

Ian Heraud CFP® Shadforth Financial Group (VIC)

John Hewison CFP® Hewison Private Wealth (VIC)

Hari Maragos CFP® Victoria Wealth Management (VIC)

Fabian Ross BT Financial Group (WA)

Mark Spiers CFP® BT Financial Group (NSW)

Andrew Zierara AMP Financial Planning, Advice & Services

Future2 ambassadors are financial planning professionals and others closely aligned to the financial planning profession who have been invited to assist the foundation to raise its profile and create a pool of funds for grant-making. They give their time and network of contacts voluntarily to support Future2’s growth and to extend its work in the community.

Trustees Chair

Steven Helmich Director, Advice & Client Solutions, AMP Limited

Peter Bobbin Managing Principal, Rockwell Oliver (Sydney)

Ray Griffin Director, AdviserVoice; Director, Baiocchi Griffin Private Wealth

Michael Neary State Director, NSW Enterprise & Government Nextgen Group

Rob Pedersen CFP® Director, Matrix Planning Solutions

Matthew Rowe CFP® Group Managing Director, Hood Sweeney Pty Ltd


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future2 foundation annual review 2013

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