Macquarie Group on the occasion of their 50th anniversary has announced $A50 million philanthropic commitment to initiate or build on bold ideas to address social need. The organisation is calling out to the non-profits and NGOs, to apply for the award.
Five of these applicants will get a chance to win support of $A10 million over a five-year period to fund projects globally that will have a lasting community benefit. The winners will be selected by the Macquarie Group Foundation who will also manage the program.
“Supporting the communities in which we live and work has been an important part of our activities since inception,” said Macquarie Group Chief Executive Officer Nicholas Moore. “In that time, our people have devoted thousands of hours to work with non-profit organisations around the world and contributed over $A330 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 $A50 million commitment to initiate or build on bold ideas which address areas of social need.”
To be eligible for the Award, applicants must be a registered non-profit within the applicable country, must have a current minimum annual revenue of $A4 million, and have audited financial statements and a board of directors. They should propose a project that promises lasting community benefit and with a defined approach to measuring its social impact. The project should either be deliverable within a five-year period, with funding to be released according to an agreed project timeline, or demonstrate a strong sustainability model post funding period.
Applications for the Award are open from 17 September 2018 and will close on 16 November 2018. Finalists and winners will be announced from May 2019.
