At Westpac Foundation, their vision is to open doors to a brighter future for more Australians.
They support not-for-profit organisations taking a fresh approach to addressing social problems, borrowing the best from business to create more opportunity for Australia's most disadvantaged.
The Foundation’s objectives are to:
- Increase effectiveness and sustainability of the organisations they support to achieve sustainable social impact
- Increase levels of awareness, engagement and fundraising through strategic partnerships so that they can increase their financial sustainability and grow their impact
- Be recognised in the social sector as taking a leadership role in building the capacity, capability and influence of organisations.
Westpac Foundation is comprised of 2 charitable funds:
- The Westpac Buckland Fund - a private charitable trust
- Westpac Community Trust - a public ancillary fund with deductible gift recipient status.
The unique characteristics of each trust means the Foundation can give to both individuals and not-for-profit organisations.
Westpac Foundation oversees the operation of The Westpac Buckland Fund and Westpac Community Trust. The Foundation's Board is a trustee of both trusts, and consists of 7 members, the majority of whom are independent of the Westpac Group.
They support not-for-profit organisations taking a fresh approach to addressing social problems, borrowing the best from business to create more opportunity for fellow Australians experiencing disadvantage.
The work and decisions of Westpac Foundation are entirely the responsibility of the Westpac Foundation Board and are undertaken without regard for the commercial interests of Westpac Group.
While being independent, the Foundation does consider Westpac Group to be its greatest supporter.
It's this close working relationship that allows the Foundation to leverage the skills, knowledge and experience of Westpac employees, which is applied to all aspects of the Foundation's grant-making philosophy and process.
In 1879, Thomas Buckland, then President of the Bank of New South Wales (which later became Westpac), donated his £1,000 annual bonus to establish the Buckland Fund, which became Westpac Foundation. The original aim of the Buckland Fund was to help families of deceased bank employees who found themselves in financial hardship.
Today, in addition to offering hardship assistance to Westpac Group retired officers, Westpac Foundation supports social enterprises and local grassroots organisations taking a fresh approach to addressing complex social problems, borrowing the best from business and the social sector to create more opportunities for Australia’s most disadvantaged.
While being independent, Westpac Foundation considers Westpac Group to be its greatest supporter.
Since 1999, Westpac Foundation has granted more than $30 million to over 450 not-for-profit organisations and remains steadfast in its goal to help open doors to social and financial inclusion for fellow Australians experiencing disadvantage.See more